Page 3 - Dlf Realty

FIR filed against IREO Group, Oberoi Realty MDs for fraud in Gurugram

An FIR was registered against nine people, including IREO Group Managing Director Lalit Goyal and Oberoi Realty Limited Chairman and Managing Director Vikas Oberoi, under various sections of cheating, criminal breach of trust and forgery, police said on Sunday. The FIR was filed on the orders of the Chief Judicial Magistrate at the DLF phase 2 police station on Friday following a complaint lodged by Advance India Projects Limited (AIPL), citing allegations of cheating, criminal breach of trust and forgery against the accused, the police said. According to the FIR, IREO and Oberoi -- both realty groups -- are accused of conspiring to defraud allottees who had invested funds since 2013, thus not only deceiving investors but also defrauding the AIPL Group. In its complaint, AIPL claimed that IREO Group embezzled approximately Rs 1,777 crore and sent it out of the country, adding that about Rs 1,376 crore was recovered as advances from the allottees. AIPL alleged that IREO collected Rs

DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 cr in FY24

DLF's joint venture firm DCCDL's rental income from office buildings increased 7 per cent annually to Rs 3,460 crore in the last fiscal, driven by rent appreciation and expansion of the asset portfolio. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm. DCCDL has an operational rental portfolio of 41.9 million square feet, of which 37.9 million square feet area is office space and 4 million square feet retail real estate. According to an investor presentation of DLF, the DCCDL's rental income from office buildings increased to Rs 3,460 crore in 2023-24 from Rs 3,232 crore in the preceding year. The rental income from retail assets (malls and shopping centres) rose 18 per cent to Rs 865 crore last fiscal from Rs 735 crore in 2022-23. Service and other operating income grew 14 per cent last fiscal to Rs 1,489 crore from Rs 1,311 crore in the preceding year. "DLF's ren

DLF to enter Mumbai, Goa this year with luxury homes; All details here

Expects 22-25% of its total sales in 2024-25 to come from NRIs

DLF's FY24 sales down 2% to Rs 14,778 crore due to subdued March qtr

India's largest realty firm DLF's sales bookings declined 2 per cent annually to Rs 14,778 crore during the last fiscal year due to a subdued March quarter, which did not see any major project launch despite strong housing demand. Its sales bookings stood at record Rs 15,058 crore in the preceding year. According to an investors presentation, DLF's sales bookings in the fourth quarter of the 2023-24 fiscal fell to Rs 1,462 crore from Rs 8,458 crore in the year-ago period as it did not launch any big projects for sale. Giving details about sales in the last fiscal, DLF said that 82 per cent contribution came from new launches. Out of the total sales bookings, its luxury housing project 'DLF Privana South' at Sector 76/77, Gurugram contributed Rs 7,200 crore. The company achieved a sales bookings of around Rs 1,200 crore from Chandigarh Tri-city. It also sold commercial SCOs(Shop-com-office) for about Rs 1,240 crore. Independent floors in Gurugram were sold for Rs 1,215 ...

Stocks to watch on May 14: Shriram Finance, Zomato, DLF, TCS, Maruti Suzuki

Shriram Finance announced that board has approved the sale of its housing finance subsidiary Shriram Housing Finance to Warburg Pincus for Rs 4,630 crore

DLF sells all 795 flats for Rs 5.6K cr in Gurugram within 3 days of launch

Realty major DLF on Thursday said it has sold all 795 apartments for Rs 5,590 crore within three days of the launch of its new luxury housing project in Gurugram amid strong consumer demand. In a regulatory filing, the company informed the success of its latest luxury residential project 'DLF Privana West' "achieving a remarkable sellout valued at approximately Rs 5,590 crore, within 3 days." The new project is spread over 12.57-acre comprising 795 apartments. In January this year, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre. Both 'DLF Privana West' and 'DLF Privana South' are part of 116-acre 'DLF Privana' township located in Sector 76 and 77. Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, said, "After the overwhelming success of DLF Privana's inaugural project DLF Privana South, 'DLF Privana West' emerges as t

Strong launch pipeline factored into realty major DLF's valuations

The rental income in DCCDL's commercial portfolio increased by 8 per cent YoY to Rs 1,100 crore with a 21 per cent rise in retail income

DLF's consolidated net profit rises 27% to Rs 656 cr in December quarter

Realty major DLF Ltd on Wednesday reported a 57 per cent increase in its consolidated net profit to Rs 463.66 crore in the third quarter of this fiscal year on the back of higher total income. Its net profit stood at Rs 294.86 crore in the year-ago period. Total income rose to Rs 1,117.40 crore in the latest December quarter from Rs 973.89 crore in the year-ago period, according to a regulatory filing. DLF is India's largest real estate in terms of market capitalisation.

DLF sells 1,113 luxury flats for Rs 7,200 cr within 3 days in Gurugram

Realty major DLF on Monday said it has sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of pre-launch amid strong demand for residential properties. In a regulatory filing, DLF announced "pre-formal launch sales of approximately Rs 7,200 crore for its latest luxury residential development, DLF Privana South in Gurugram." In March last year, DLF had sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days. Now, DLF has launched new project 'DLF Privana South' which is spread over 25 acre in Sectors 76 and 77, Gurugram. "This luxury residential offering by DLF was sold out within 72 hours, in its pre-launch phase," DLF said. The project will comprise 1,113 luxury residences across 7 towers, presenting 4 BHK apartments and penthouses. DLF Privana South will be part of a larger development, "DLF Privana" spread over 116 acre. Aakash Ohri, Joint Managing Director and Chief Business

MakeMyTrip CEO, Genpact CHRO each buy Rs 33 cr apartment in Gurgaon

Rajesh Magow and Piyush Mehta each secured 6,500 sq ft apartments at The Magnolias by DLF on Golf Course Road, showing the growing demand for luxury real estate

Realty firm DLF CFO Vivek Anand resigns, MD Tyagi given additional charge

Realty firm DLF on Monday said its Chief Financial Officer (CFO) Vivek Anand has resigned from the company. He will continue as CFO till February next year. DLF MD Ashok Kumar Tyagi, who has the overall responsibility for all corporate functions including Finance, will now have oversight of the Group Finance, IT, and secretarial functions in addition to his current responsibilities as Managing Director, the company said in a regulatory filing. "...after a stint of over 4 years, Vivek Anand, Group Chief Financial Officer, has decided to move on from the company, to pursue other career avenues." Anand has played an important role in strengthening the finance organization, systems and controls over the past 4 years, DLF said. "His resignation letter dated 11th December 2023 has been accepted by the Audit Committee in its meeting held on 11th December 2023 which placed on record their appreciation for his contributions to the company," DLF said. Anand will continue in his role until

DLF to buy residual stakes in entities owning land in Gurugram for Rs 40 cr

Realty major DLF will acquire residual stakes in certain entities that own 63 acres of land parcels in and around Gurugram for around Rs 40 crore. DLF acquired development rights of these land parcels during 200910. In a regulatory filing on Tuesday, DLF said the finance committee of its board has approved the acquisition of around 5.22 per cent shareholding in Invecon Pvt Ltd and 4.48 per cent and 3.24 per cent shareholding in its affiliates namely Vikram Electric Equipment and Uni International, respectively. These entities are collectively referred to as 'land owning companies'. The land-owning companies collectively hold around 63 acres of land parcels in and around Gurugram, for which the company already has existing agreements. DLF said it is executing definitive agreements with the sellers and the land-owning companies along with its six other affiliates. After execution, these land-owning companies and six affiliates would become subsidiaries of the company. The considera

Higher free float to stoke passive flows in Zomato, DLF and Jio Financial

The move follows an increase in free float in these stocks due to selling by promoters and large institutions such as Life Insurance Corporation and Softbank Vision Fund

Wealthy Indian diaspora wooed by DLF to buy luxury apartment for investment

Earlier this year, DLF had sold 1,137 apartments costing almost a million dollars each in just three days

Realty major DLF to invest Rs 1,700 cr for new shopping mall in Gurugram

Realty major DLF is likely to start construction of its new 25 lakh square feet shopping mall in Gurugram this quarter at a cost of around Rs 1,700 crore to expand business amid surge in demand for quality real estate space from retailers. At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet retail portfolio is under DLF Ltd and rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC. In an interview with PTI, DLF's Vice Chairman and MD (Rental Business) Sriram Khattar highlighted that the retail sector has bounced back sharply post-COVID pandemic and there has been a strong growth in footfalls and sales in shopping malls. "We are likely to start construction of Mall of India, Gurugram in the third quarter of this fiscal year," said Khattar, who has recently been elevated to this new .

DLF, Lodha: Realty stocks enter next leg of upside post hitting new peaks

Nifty Realty index to rise up to 5 per cent in the coming weeks, post delivering bullish breakout on the charts.

DLF sells properties worth Rs 2,040 cr in Apr-Jun; sales bookings flat

Realty major DLF sold properties worth Rs 2,040 crore during the first quarter of this fiscal, mainly driven by demand for its luxury properties in Delhi and Gurugram. The company's sales bookings remained flat on an annual basis. Its sales stood at the same Rs 2,040 crore in the year-ago period. When contacted, DLF Group Executive Director Aakash Ohri said the sales bookings remained strong during the June quarter. "We did not launch any new housing project in the first quarter. The entire sales bookings are from ongoing projects. We will bring new projects in markets in Q2 and the second half of this fiscal," Ohri told PTI. According to an investor's presentation, DLF sold 13 units in 'The Camelias' housing project in Gurugram for Rs 564 crore. The company sold properties worth Rs 659 crore in the 'One Midtown' project in the national capital. On Friday, DLF reported a 12 per cent rise in consolidated net profit to Rs 527 crore in the first quarter of this fiscal. The company

DLF awards Rs 369 cr contract to B L Kashyap in Gurugram housing project

Realty firm DLF has awarded Rs 369 crore contract to construction firm B L Kashyap in its luxury housing project at Gurugram, Haryana. In a regulatory filing, B L Kashyap and Sons Ltd informed that it has secured new order aggregating to about Rs 369 crore from DLF Home Developers Ltd, which is a subsidiary of DLF Ltd. The nature of contract is civil structure and waterproofing works for 'DLF The Arbour' housing project in Sector 63, Gurugram. The contract is to be executed within the next 33 months. B L Kashyap said its total order book as on date stands at Rs 3,086 crore (excluding GST till date). In March, DLF had said it would invest around Rs 3,500 crore over the next four years to construct this project, which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17).

Five of India's ten richest realty barons saw wealth erosion last year

Among the top 10, Mangal Prabhat Lodha and family of Macrotech Developers saw the steepest wealth erosion of 20 per cent in 2022-23: Grohe-Hurun India Real Estate Rich List 2023

DLF Cyber City Developers net profit climbs 43% to Rs 1,429 crore in FY23

Realty major DLF's rental arm DCCDL's net profit increased 43 per cent to Rs 1,429 crore in the last fiscal on better income from office and retail properties. Its net profit stood at Rs 1,002 crore in 2021-22. According to an investors' presentation, DCCDL's total income increased 19 per cent to Rs 5,419 crore during 2022-23 from Rs 4,533 crore a year ago. DLF Cyber City Developers Ltd (DCCDL) is a joint venture firm between DLF and Singapore sovereign wealth fund GIC. DLF has a nearly 67 per cent stake in the JV firm, while GIC has the remaining. As per the presentation, DCCDL's rental asset portfolio, comprising office complexes and shopping malls, is currently at 39.6 million square feet, and out of that 90 per cent area is already leased to tenants (corporates and retailers). The rental income of DCCDL from office space rose 13 per cent to Rs 3,232 crore during the last fiscal from Rs 2,869 crore in the year-ago period. Rentals from retail space increased 59 per cent to Rs