Page 8 - Dlf

Rana Talwar, first Indian to head a global bank, passes away at 76

Veteran banker Rana Talwar, who was the first Indian to head a global bank -- Standard Chartered Plc, died at the age of 76 years. Talwar, son-in-law of DLF Group chairman emeritus K P Singh, breathed his last on Saturday, sources said. He is survived by his wife Renuka and son Rahul. Besides DLF, he served on the boards of various companies including Asahi India Glass Limited and Great Eastern Energy Corporation Limited. The company regrets to inform about the sad demise of Talwar, a non-executive director, on Saturday, January 27, 2024, which was intimated to the company by the family members, DLF said in a regulatory filing. Born in 1948, Talwar started his career as a banker in India with Citi Bank after passing out of the prestigious St Stephens College, Delhi. During his stint at Citi Bank, Gurvirendra Singh Talwar also known as Rana Talwar, was responsible for building the US-based bank's retail businesses across Asia Pacific and the Middle East. He was subsequently respon

DLF to buy 29 acres land in Gurugram for over Rs 825 cr for housing project

Realty major DLF Ltd will acquire 29 acres of land in Gurugram from IREO to build a housing project after taking over bad loans worth Rs 825 crore related to the land. A senior official of DLF said the total consideration for the 29 acres of land will exceed Rs 825 crore. The land has been mortgaged by realty firm IREO with some financial institutions. DLF plans to develop a group housing project on the land located on Golf Course Extension in Gurugram, Haryana. In a regulatory filing on Thursday, DLF said it has entered into an agreement with Standard Chartered Bank, Singapore Branch, DB International (Asia), Singapore and Deutsche Investments India (lender/bond holder). From these lenders, DLF has agreed to buy non-convertible, redeemable bonds issued by IREO (bond issuer). "We have been working with the two lenders and the developer for almost 12 months trying to structure this transaction. Today, we have signed the documents to acquire the debt from these two lenders," DLF MD

DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why

Most positive factors in terms of a pick-up in housing demand and office space absorption, CLSA said, are already priced in.

DLF sales bookings jump 2-fold to Rs 13,316 cr in Apr-Dec on high demand

Realty major DLF Ltd's sales bookings jumped two times annually to Rs 13,316 crore during the first nine months of this fiscal, mainly on high demand for its luxury housing properties in Gurugram. During the April-December period of the previous fiscal, the company's sales bookings stood at Rs 6,599 crore. In the 2022-23 fiscal, DLF's sales bookings stood at a little over Rs 15,000 crore, and it is likely to clock higher numbers in the current fiscal. On Wednesday, the company reported a more than three-time increase in its sales booking to Rs 9,047 crore in the December quarter as against Rs 2,507 crore in the year-ago period. This is the highest quarterly sales booking achieved by the company. The record sales bookings in the third quarter were mainly driven by sales of 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the pre-launch last month. In the third quarter of 2023-24, DLF launched three new projects --two in Gurugram and one in ...

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.

Realty reality: Will luxury housing in India lose its sheen in 2024?

Luxury housing in India witnessed a record-breaking year in 2023 as the sales of such homes touched an all-time high. Now, is the demand for these costlier homes likely to continue in 2024 as well?

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

Signature Global Q3 bookings up 47% to Rs 1,263 cr on better housing demand

Realty firm Signature Global on Monday reported 47 per cent increase in its sales booking to Rs 1,262.73 crore for the third quarter of this fiscal on strong housing demand. Its sale bookings stood at Rs 856.77 crore in the year-ago period. In a regulatory filing, Signature Global said the company sold 1,179 units in October-December period of this fiscal as against 1,089 units in the year-ago period. In terms of volumes, sale bookings rose to 1.31 million square feet in the third quarter of this fiscal from 1.10 million square feet in the year-ago period. During April-December 2023-24 , Signature Global achieved 41 per cent growth in sale bookings to Rs 3,124.12 crore from Rs 2,209.78 crore in the year-ago period. It sold 3,135 units in the first nine months of this fiscal, marginally up from 3,113 units in the corresponding period of the previous year. In volume terms, sale bookings grew 9 per cent to 3.2 million square feet during April-December of this fiscal from 2.94 millio

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

Stocks to Watch: Allcargo Logistics, Mazagon Dock, Cochin Ship, Inox India

Stocks to Watch on December 21, 2023: Inox India will make its debut on the bourses today; Ultratech Cement has entered into an agreement to acquire 26 per cent stake in Clean Max Terra

Amidst high demand, DLF sells properties worth Rs 1,400 cr in Haryana

Realty firm DLF Ltd on Wednesday said it has sold independent floors and commercial plots for around Rs 1,400 crore in Gurugram and Panchkula, in Haryana, amid strong property demand. DLF, the country's largest real estate developer in market cap, has launched two projects in Sector 67, Gurugram and Panchkula. "We have launched and completely sold out 75 shop-cum-office (SCO) plots in our new project 'Central 67' Gurugram," DLF Home Developers Joint Managing Director and Chief Business Officer Aakash Ohri told reporters here. These 75 units have been sold for Rs 700 crore, he said, the total land size of this project is 9 acres. The prices ranged between Rs 7 crore and Rs 25 crore. Ohri said the company has launched another project 'Valley Orchard' in Panchkula where it is developing 470 independent floors. "Out of 470 units, we have launched 400 units. All of them have been sold for Rs 700 crore," he said. The company has sold floors at Rs 9,000 per square feet. Ohri noted that

Realty index surges 108% from March low; DLF, Godrej Properties soar 100%

Since March 28, the market prices of DB Realty, Puravankara, and Prestige Estates Projects have zoomed over 200 per cent

Allure of offbeat towns: After DLF, M3M plans Rs 2,700 cr Panipat project

Key locations in North India that have caught the attention of buyers and developers alike include Panchkula, Sonipat, Panipat, Karnal, and Meerut

Stocks to Watch: Sun Pharma, Infosys, Dixon, DLF, Mankind Pharma, SpiceJet

Stocks to watch on December 12, 2023: Sun Pharma has increased its offer price for acquiring remaining shares of Taro Pharma to $43 per share in cash, compared to $38 before

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 mulls first bond issue in three years amid revival of real estate mkt

"It is difficult to pinpoint the exact timing (of the issue), as the talks are at a very basic stage," the banker said

ED searches realty major DLF in money laundering case against Supertech

The Enforcement Directorate has searched the premises of realty major DLF in Gurugram as part of a money laundering investigation against real estate firm Supertech and its promoters, official sources said Saturday. The central agency has recovered some documents during the action that was carried out over the past few days, they said. The action is linked to the ED investigation against Supertech, the sources said. An email sent by PTI to DLF did not elicit an immediate response. The ED had arrested Supertech promoter R K or Ram Kishor Arora in this case in June. It had then alleged that Arora was the main controlling person of the group who decided to "divert" crores of funds of investors and homebuyers to various shell companies. The money laundering case, filed under the criminal sections of the Prevention of Money Laundering Act (PMLA), stems from as many as 26 FIRs registered by the police departments of Delhi, Haryana and Uttar Pradesh against Supertech Limited and its gro

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

Samvat 2080: Stock picks from Anand Rathi, Nirmal Bang, Sharekhan, Axis Sec

Here's a list of stocks recommended by top brokerage and research firms that can help you build your portfolio this Diwali.

DLF, Oberoi Realty zoom up to 70% so far in 2023; will the rally last?

Charts suggest that the bias for the realty stocks is likely to remain favourable as long as they hold these key support levels.