DLF Limited : the Real Estate Giant

DLF Limited or DLF (Delhi Land and Finance) is the India's biggest real estate developer based in New Delhi, India. The DLF Group was founded by Raghuvendra Singh in 1946. DLF developed residential colonies in Delhi such as Krishna Nagar, South Extension, Greater Kailash, Kailash Colony and Hauz Khas. In 1957, with the passage of Delhi Development Act, the government assumed the control of real estate development activities in Delhi and the role of private real estate developers was restricted. As a result DLF began acquiring land at relatively low cost outside the area controlled by the Delhi Development Authority, particularly in the district of Gurgaon in the adjacent state of Haryana. In the mid-1970s, the company started developing DLF City project at Gurgaon. Its upcoming plans include hotels, infrastructure and special economic zones-related development projects.

The company is currently headed by Indian billionaire Kushal Pal Singh. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2009, now stands as the 98th richest man in the world and the world's richest property developer. The company's US$ 2 billion IPO in July, 2007 created India's biggest IPO in history. In July 2007, DLF announced its first quarter results ending 30 June 2007. The company reported a turnover of Rs. 3,120.98 Crore and PAT at Rs. 1,515.48 Crore.

DLF Signature

Recent History
Until the mid-1990s, most of DLF's (Delhi Land and Finance) operations were in Gurgaon and Delhi metropolitan area. However, with increased assets, DLF has been trying to ramp up its operations all over India. A major investment made by DLF was a INR 700 Crore (INR 7 billion) buyout of NTC Mill Land in Mumbai. Some of DLF's other development initiatives include a US$ 2.1 Billion investment in Tamil Nadu, a multi-billion dollar business park in Bangalore, a US$ 1.7 billion investment in Madhya Pradesh's real estate and infrastructure sector, and a INR 10 billion investment plan for developing special economic zones in Orissa.

Developments
DLF builds residential, office and retail properties.

DLF Office Complex at Gurgaon

Joint Ventures
Laing O'Rourke- UK based construction company credited with construction of Dubai International Airport, London's Millennium Tower, etc, will construct all DLF's landmark projects. Together DLF-Laing O' Rourke shall build the expressways, ports and other megastructures of India's new economy.

Nakheel of Dubai are partnering with DLF for developing townships in India.

WSP Group Plc is also partnering DLF, providing Management and consultancy to the built and natural environment.

Feedback ventures, is providing consultancy for faster project execution to DLF.

DLF has also tied up with Hilton Hotels to jointly develop hotels in India.

New Delhi Skyline

Sponsorship
DLF is currently sponsoring Indian Premier League (IPL), a Twenty20 format cricket league in India. DLF Group has paid US $40 million to be the title sponsor of the tournament for 5 years.



Criticism
DLF doesn't show pictures of a lot of its completed projects on its website. Which makes it difficult to see the quality of its construction. For example, its Royalton Towers in Gurgaon only shows a computer generated graphic. Even though the project has long been completed.


Basic Details

Type: Public
BSE: 532868
NSE: DLF
Industry: Real estate
Founded: As Raisina Cold Storage and Ice
16 March 1946
As Delhi Land and Finance
18 Sep 1946
by Chaudhury Raghuvendra Singh
Headquarters: New Delhi, India
Key people: Kushal Pal Singh (Chairman)
Products: Offices
Houses
Hotels
Golf courses
Revenue: ▼ $3.50 billion (FY 2009)
Net income: ▼ $1.97 billion (FY 2009)
Total assets: ▼ $9.87 billion (FY 2009)
Owner(s): KP Singh & family (78%)
Website: www.dlf.in