Page 12 - Dlf

No plans to launch REIT public offer in next 12 months, says DLF CEO

Real estate major DLF has no plans to launch public offer of REIT in the next one year to monetise its rent-yielding commercial properties, its CEO Ashok Tyagi said. DLF holds bulk of its rental assets (offices and shopping malls) through joint venture firm DLF Cyber City Developers Ltd (DCCDL). DLF holds 66.67 per cent stake in DCCDL, while Singapore sovereign wealth fund GIC has 33.33 per cent shareholding. In the last two years, DCCDL has completed all homework to be ready to list its Real Estate Investment Trust (REIT) on stock exchanges by launching an Initial Public Offering (IPO). DLF's top management has been maintaining that the timing for REIT will be decided by the two joint venture partners. "We are not in a hurry. There is no plan to launch REIT in the next one year," Tyagi told PTI when asked about the company's strategy regarding proposed launch of REIT. The decision comes amid global uncertainties and high interest rates regime. In January 2021, DCCDL had appoint

Real estate shares weak; Godrej Properties, DLF, Mahindra Life shed 3% each

Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates fell 1-2 per cent

Adani row not to impact India story, says industry doyen K P Singh of DLF

The turmoil engulfing Gautam Adani's business empire following damning allegations by a US short seller, has not shaken the faith of global investors in India, real estate doyen K P Singh said rubbishing suggestions that banks would have lent to Adani group on instructions from higher-ups. The punishing stock market sell-off Adani group companies have seen following the January 24 report of Hindenburg Research is a temporary blip concerning just one corporate group and hasn't harmed faith in India as an investment opportunity, he told PTI in an interview. He, however, felt the Adani group needs to "beef up" capital and cut down debt to continue to remain on the high growth trajectory. Known for his plain speaking, Singh cited how a Canadian firm had threatened to bring out a report when his retail estate firm DLF was bringing out an IPO one-and-a-half-decade back. "We said push-off (to the Canadian firm)... do whatever you can ," he said, adding there are "blackmailers" who bring o

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

Realty index may slip up to 7 per cent if stays beneath 400 level

DLF plans to launch Rs 7,500 cr-worth premium housing project in Gurugram

Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. "We are planning to launch next month a premium residential project in Sector 63 Gurugram. The estimated sales realisation of this project will be around Rs 7,500 crore," he said. "Demand for real estate across various price points is very strong, especially for products offered by trusted developers," Ohri said. DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore. DLF's sales bookings stood at Rs 4,544 crore in the year-ago ..

DLF sales booking up 45% to Rs 6,599 cr in Apr-Dec; to meet Rs 8k cr target

Realty major DLF Ltd has achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December this fiscal on better demand and is on track to achieve its annual sales guidance of Rs 8,000 crore, a senior company official said. DLF's -- the country's largest realty firm in terms of market capitalisation -- sales bookings stood at Rs 4,544 crore in the year-ago period. "We have achieved robust growth in our sales bookings in the first nine months of this fiscal year. The sales are driven by demand for good quality products," DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. He said the company has launched apartments and independent floors at different price points, which helped in achieving better sales. DLF has launched residential projects in Delhi, Gurugram, Panchkula and Chennai. Asked about sales bookings for the entire fiscal, Ohri said the company has given a guidance of Rs 8,000 crore for the 2022-23 fiscal and is expected to achie

DLF's net profit up 35% in Q3, total revenue falls to Rs 1,560 crore

Exceptional expenses last year boost profit in Q3

DLF Q3 profit jumps 37% on account of reduced costs and stable demand

Indian real estate developer DLF Ltd reported a nearly 37% rise in quarterly profit on Wednesday, helped by a fall in expenses and rising demand for various housing projects.

Noida Authority issues Rs 235 cr notice to DLF over Mall of India issue

The Noida Authority has issued a notice to real estate developer DLF to pay Rs 235 crore as compensation to the previous owner of the land on which the Mall of India has been built, a senior official said Monday. The DLF, however, said it was yet to receive the communication. The development comes in the backdrop of a Supreme Court order on May 5 in which it had directed the Noida Authority to ensure payment of compensation for the land to its previous owner Veerana Redyy. "Yes," Noida Authority CEO Ritu Maheshwari told PTI, confirming that the notice has been issued. Another senior official told PTI that the notice was issued to DLF on December 23 and the amount has to be remitted in 15 days. When contacted, a DLF spokesperson said in a statement: "We have not received any notice. Once we get it, we will review it." The DLF Mall of India is located in Sector 18, Noida's commercial hub. The land where the mall has been built was acquired by the Noida Authority, which functions u

Stocks to Watch: Suven Pharma, Telecom, Restaurant, Travel, DLF, Tata Power

Stocks to Watch: Shares of restaurant and travel related firms are likely to be in foucs as government ups the ante to keep the new variant of Coivd-19 virus at bay.

NCLAT sets aside CCI order on DLF, remanded back directing to examine

The NCLAT has set aside an order passed by fair trade regulator Competition Commission of India (CCI) with respect to DLF and directed it to examine the matter. The case pertains to CCI rejecting a complaint against DLF and its subsidiary for alleged abuse of the dominant position on the basis of a second/supplementary report from DG. The appellate tribunal said CCI was "not authorised to pass an order for further investigation" if once its probe unit - the DG (Director General) has already "noticed the violation" in its first report and "the same cannot be justified". Based on the second/supplementary DG report, CCI passed the order concluding that the contravention of the provisions" of the Competition Act was not established against DLF and its wholly-owned subsidiary DLF Home Developers. A two-member NCLAT bench said it was "of the opinion that without going into further detail or delving into the merit of the case the order impugned is liable to be set aside since the order

CCI likely to appeal against NCLAT order in DLF matter: Sources

The Commission in 2018 had found DLF in contravention of the Competition Act for abusing its dominant position and discriminatory practices

Capacit'e Infraprojects bags Rs 117 cr order from DLF to build Mall in Goa

Construction firm Capacit'e Infraprojects Ltd on Tuesday said it has bagged an order worth Rs 117.20 crore from DLF Ltd for the construction of a mall in Goa. The contract amount of Rs 117.20 crore excludes GST and labour cess. "Capacit'e Infraprojects Ltd has been a preferred construction company for leading corporates in India. In line with this thought, DLF entrusted responsibility for their mall project, company's managing director Rahul Katyal said. Further, the company said that the order inflow for the current fiscal, along with the existing order book, gives it confidence to deliver good growth in the coming quarters.

RBI Policy: Time to be selective in rate sensitives; keep DLF, SBI on radar

As per the charts, SBI and DLF need to conquer the near resistances at Rs 620 and Rs 420, respectively, for fresh gains to emerge.

Mehul Kothari expects NLC India, DLF to gain in the near term; check why

According to the technical analyst from Anand Rathi, NLC India can rally to Rs 100, while DLF can jump to Rs 435.

Chris Wood rejigs India portfolio; adds Macrotech Developers, Adani Ports

In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore

Brand ambassadors: An illusory fascination

Byju's appointment of Messi is a good example of the illusory fascination that companies harbour for celebrity endorsements

DCCDL office rent income up 14% to Rs 801 cr; retail assets revenue up 54%

Realty major DLF's rental arm DCCDL has reported a 14 per cent increase in office rental income to Rs 801 crore and 54 per cent rise in revenue from retail properties to Rs 184 crore during the quarter ended September 30. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore's sovereign wealth fund GIC. DLF has nearly 67 per cent stake in the JV firm, while GIC has the remaining. In an investors presentation for the July-September quarter, DLF has also informed about the operational and financial performance of its JV firm DCCDL, which holds the bulk of its rent-yielding office and retail real estate portfolio. Some commercial properties are still being held by the parent company DLF. DCCDL's office rental income grew 14 per cent to Rs 801 crore during the second quarter of this fiscal, from Rs 701 crore in the year-ago period. Its retail revenue rose 54 per cent to Rs 184 crore from Rs 120 crore. Total rental income rose 20 per cent to Rs 986 crore

DLF sells housing units worth Rs 4,092 cr in Apr-Sep, up 62% Y-o-Y

Realty major DLF Ltd's sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore on better demand for its housing properties. Its sales bookings stood at Rs 2,526 crore in the first half of the previous financial year, according to an investors presentation by the firm. DLF Ltd has given guidance of sales bookings at Rs 8,000 crore for the current 2022-23 financial year, a 10 per cent increase from the previous fiscal. Its sales bookings rose to Rs 7,273 crore in 2021-22 fiscal from Rs 3,084 crore in the previous year. When contacted, DLF Group Executive Director and Chief Business Officer Aakash Ohri attributed the growth in sales bookings to strong end-user demand for its residential properties. "We are maintaining the sales bookings guidance for this fiscal year," he said, adding that the company would prefer being cautious in the rising interest rate regime. Ohri said the company has worked hard in the last two years to attract end user

DLF Q2 net profit up 26% to Rs 477 crore, total income fall to Rs 1,360 cr

Realty major DLF Ltd on Friday reported a 26 per cent increase in its consolidated net profit at Rs 477.20 crore for the quarter ended September. Its profit stood at Rs 378.12 crore in the year-ago period. Total income fell to Rs 1,360.50 crore in the second quarter of this fiscal from Rs 1,556.53 crore in the corresponding period of the previous year, DLF said in a regulatory filing. DLF is India's largest real estate company in terms of market capitalisation. It has developed more than 153 real estate projects covering 330 million square feet. The company has 215 million square feet of development potential across the residential and commercial segments. The DLF Group has an annuity portfolio of over 40 million square feet. DLF is primarily engaged in the business of development and sale of residential properties (development business), and the development and leasing of commercial and retail properties (annuity business).