Page 10 - Dlf

DLF eyes Rs 400 cr revenue from new 92 independent floors in Gurugram

Realty major DLF expects a revenue of around Rs 400 crore from sales of 92 luxury independent floors which it will develop on corner plots in Gurugram, its Executive Director Aakash Ohri said. The company has many corner plots in Gurugram and is launching 92 independent floors. These floors will be sold in a price range of Rs 4-5.5 crore each with size between 2,400 square feet and 3,100 square feet. "We are launching more independent floors in Gurugram as demand is huge for this premium product," DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. He said the company is expecting a sales revenue of Rs 400 crore from these 92 independent floors. "We have launched and sold independent floors worth Rs 7,650 crore in Gurugram and Chandigarh tri-city (Chandigarh, Mohali and Panchkula)," Ohri said. Recently, DLF Managing Director Ashok Kumar Tyagi had said the company would launch two luxury housing projects worth Rs 15,000 crore in Gurugram during the second

DLF to launch 2 luxury housing projects in Gurugram: MD Ashok Tyagi

Realty major DLF Ltd will launch two luxury housing projects worth Rs 15,000 crore in Gurugram during the second half of this financial year to expand its business amid strong demand for premium homes, its Managing Director Ashok Kumar Tyagi said. Buoyed by sales of Rs 8,000 crore worth of flats within three days in February in its new project 'The Arbour' at Gurugram, Tyagi said the company has set a target to achieve sales bookings of Rs 13,000 crore in this fiscal year and hopes to exceed the number. During the 2022-23 financial year, DLF posted sales bookings of Rs 15,058 crore, a more than two-fold increase from Rs 7,273 crore in the previous year. In an interview with PTI, Tyagi talked about the overall housing market and noted that the demand for ultra-luxury, luxury and mid-income residential properties is very strong. However, he mentioned that there is some stress in the affordable housing segment because of the rise in interest rates on home loans and an increase in hous

Avg rent in Gururgram increases by 28% annually in Jan-Jun: Savilis

The average monthly rental for premium housing rose 28 per cent year-on-year in Gurugram during the January-June period of this year on higher demand, limited supply and appreciation in capital values, according to Savills India. In Gurugram, the "average rentals witnessed an increase of 28 per cent YOY (year-on-year) across all markets. GCER (Golf Course Extension Road & SPR (southern peripheral road) and Golf Course Road saw the highest rise in rentals with 33 per cent and 31 per cent YOY growth, respectively," real estate consultant Savills said in its report. As per the report, the average quoted rentals are for 3BHK and 4BHK apartments on Golf Course Road and 3-BHK apartments in other micro markets. As per the Savills data of the first half of 2023, Golf Course Road commands a monthly average rental of Rs 1,95,941, while the average rent at Golf Course Extension Road and Southern Peripheral Road is Rs 1,01,000 a month. The data showed that average rent in New Gurugram is Rs ..

DLF, Medanta to develop 400-bed multi-specialty hospital in Delhi

Realty major DLF on Thursday announced that it has tied up with Global Health Ltd (Medanta) to set up a 400-bed multi-speciality hospital in the national capital. The two companies will have an equal partnership in the new joint venture. DLF and Global Health Ltd -- a leading private multi-specialty tertiary care provider -- have "entered into an understanding for forming a company to launch a 400-bed multi-super specialty hospital to provide the highest quality of healthcare in the heart of Delhi in Greater Kailash-I." Both DLF and Medanta will own 50-50 equity in the new company. DLF will be a strategic investor and Medanta will run the hospital and have operational control. DLF Chairman Rajiv Singh said, We are excited to participate in setting up a world class hospital in South Delhi at a location which is closely associated with the origins of our company." The new hospital will strengthen the medical infrastructure in Delhi and further strengthen its deep commitment to impr

DLF's net debt falls 92% to record low Rs 57 cr at end of June quarter

Realty firm DLF's net debt has come down by 92 per cent to Rs 57 crore -- the lowest level -- at the end of the first quarter of this fiscal on better cash flow driven by strong housing sales. According to an investors' presentation, DLF's net debt stood at Rs 57 crore as on June 30, 2023 as compare to Rs 721 crore at the end of 2022-23 fiscal. During the period under review, the company's gross debt also fell to Rs 3,068 crore from Rs 3,840 crore. "We continue to focus on strengthening our balance sheet and cash generation. Strong collections led to a further reduction in net debt during the quarter. Consequently, our net debt now stands reduced to the lowest ever at Rs 57 crore," DLF's Group Chief Financial Officer Vivek Anand told investors. As per the transcript of the investors' call, Anand said, "With these low levels of debt, we have almost achieved our commitment of being net zero and hopefully should end the year with a surplus cash position." Recently, DLF reported a 12 p

Stocks to Watch on Aug 2: HeroMoto, Campus Activewear, Adani Wilmar, Titan

Stocks to Watch today, August 2, 2023: According to reports, Campus Activewear is expected to see a block deal for eight million shares at a price of Rs 295-300 apiece.

DLF's KP Singh sells entire 0.59% stake for Rs 731 crore; stock down 3.7%

In June 2020, Singh retired as the realty firm's chairman after nearly six decades

DLF's KP Singh sells entire 0.59% stake for Rs 731 cr: Stock exchange data

Billionaire KP Singh has sold his entire remaining stake in real estate firm DLF for around Rs 731 crore, according to the stock exchange data. It wasn't clear why Singh, who in June 2020 was named the chairman emeritus, sold the shares in the company that is now headed by his son Rajiv. According to bulk deal data on BSE, Kushal Pal Singh, one of the promoters, sold 1,44,95,360 shares on the stock exchange at Rs 504.21 each, totalling Rs 731 crore. DLF's share opened at Rs 510 per share on BSE but closed 3.65 per cent down at Rs 499.70 apiece from the Monday closing price following the sale of a large number of shares by one of the promoters. Its market cap stood at Rs 1,23,691 crore on Tuesday's closing price. As per the DLF's shareholding pattern as on June 30, 2023, 93-year-old Singh held 1,44,95,360 shares, which is equivalent to 0.59 per cent shareholding in the company. Promoters group held a 74.95 per cent stake in the company at the end of the June quarter. In June 2020

DLF down 4% after over 20 mn shares change hands via block deal on BSE

Thus far in the current calendar year 2023, DLF has rallied 33 per cent, as compared to 8.7 per cent rise in the S&P BSE Sensex.

Despite lower Q1 bookings, DLF on course to hit FY24 sales target

The company maintained its pre-sales guidance of Rs 12,000 crore to Rs 13,000 crore, riding on 11.2 million square feet of launches

DLF to invest Rs 400 cr as equity to develop Mumbai project with Trident

Realty major DLF on Monday said it will invest Rs 400 crore as equity to develop a real estate project, comprising 35 lakh sq ft of estimated saleable area, in Mumbai in partnership with NCR-based builder Trident group. The company plans to launch the first phase of the Mumbai project, comprising 9 lakh square feet of residential space, by the end of this fiscal year. On Friday, DLF, which clocked record sales bookings of Rs 15,058 crore in the last fiscal year, announced its entry into the Mumbai property market. "We reflected for a long before re-entering Mumbai real estate market...We are investing Rs 400 crore as equity for the entire project that has a potential saleable area of 3-3.5 million square feet," DLF CEO Ashok Tyagi told analysts. He said the DLF will hold a 51 per cent stake in the special purpose vehicle (SPV) which will develop this project. The remaining 49 per cent will be with Trident Group. This is a Slum Rehabilitation Authority (SRA) project. Tyagi said thi

Swiss watches import jump 21% in India first six months of 2023

Imports touched 98.5 million Swiss francs (nearly Rs 933 crore) in the January to June period this year period from 81.2 million francs a year earlier

DLF Q1 results: Consolidated net profit rises 12.2% to Rs 527 crore

Total income rose marginally to Rs 1,521.71 crore in the April-June period of 2023-24 financial year from Rs 1,516.28 crore in the year-ago period

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).

Housing demand outlook remains positive, says DLF chairman Rajiv Singh

DLF Chairman Rajiv Singh remains bullish on India's housing sector and expects strong sales momentum to sustain on the back of rapid urbanisation, improved affordability and aspirational need. Singh also noted that the sector is witnessing a consolidation in demand towards credible and organised real estate developers. In a message to DLF's shareholders in annual report for 2022-23, Singh said the housing sector continues to experience strong demand. "The outlook for housing demand remains positive, with sustained momentum expected due to factors such as urbanization, improved affordability, favourable consumer sentiments and increasing aspirational need," he said. Singh observed that the housing sector is witnessing a trend of consolidation, which is skewed towards the more organized and credible developers. "This trend is primarily influenced by heightened consumer confidence in these brands, substantial improvements in their financial positions and their ability to deliver ...

Home sales in NCR touch 10-yr high, flats upwards of Rs 1 cr most in demand

In NCR, Gurugram accounted for a mammoth 82% of the total half yearly launches.

India tops globally in LEED Zero certifications of green building projects

India ranks first globally in LEED Zero certified green building projects surpassing the US and China, according to USGBC and GBCI. LEED Zero recognises projects that have reached net zero or net positive status in the categories of carbon, energy, water, or waste. In India, realty firm DLF and FMCG player ITC are leading in the LEED Zero green certification initiative. The LEED Zero projects, including office spaces, hospitality facilities, retail malls, industrial manufacturing projects, and data centres, serve a mix of sectors. US Green Building Council (USGBC) and Green Business Certification Inc (GBCI) on Thursday said in a statement that India has emerged as a top country with LEED Zero green building projects. India has become a global leader in LEED Zero certifications, outperforming both the US and China, it added. India has 73 LEED Zero certified projects, comprising 45 per cent of the more than 150 total LEED Zero certifications. Haryana and Tamil Nadu are leading the

Rs 6 cr to 45 cr for a flat: NCR's Golf Course Road sees 42% price hike

Golf Course Road is a well-developed luxury micro market in Gurgaon which has been in high demand from the HNIs and luxury buyers alike

DLF hits highest level since September 2008; zooms 40% thus far in FY24

The Group's strong operating performance in FY2023, which is expected to sustain in FY2024, is supported by continued end-user demand and good affordability

DLF, Sobha: Realty index can hit life-time peak if it conquers 484 level

When Nifty Realty index hits a new 52-week high, the next positive rally shall aim at setting a new all-time high