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DLF Limited

Public
Type (BSE: 532868)
(NSE: DLF)

Industry Real estate

Founded 1946

Headquarters New Delhi, India [1]

Key people Kushal Pal Singh (Chairman)

Offices
Apartments
Products Shopping Malls
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
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.[2] DLF
developed residential colonies in Delhi such as Shivaji Park ( which was actually its first one),
Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash, Kailash Colony and Hauz
Khas. In 1957, with the passage of Delhi Development Act, the local government assumed
control of real estate development in Delhi and banned private real estate developers.

As a result DLF began acquiring land at relatively low cost outside the area controlled by the
Delhi Development Authority, 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.[3]

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.[4] 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.

Contents
[hide]

 1 History
 2 Recent history
 3 Developments
 4 Joint Ventures
 5 Sponsorship
 6 Criticism
 7 Gallery
 8 External links
 9 References

[edit] History
In the early 40s-50s Raghuvendra Singh was bankrolled by the Dabra & the Sahanpur families to
procure real estate around Delhi. That money was multiplied over the decades through
investments like Punjabi Bagh, Rajouri Garden, Krishna Nagar, South Extension, Greater
Kailash 1 & 2, Kailash Colony, Hauz Khas and Panchsheel. In the 1970s and 1980s DLF
purchased 3,000 acres (1,214 ha) of land from farmers in Gurgaon for $2000 per acre.[5]

But at that time, the Haryana government did not allow private companies to develop the land.
Years later, when Rajiv became Prime Minister, he ensured that the Haryana Government
change the local law and allow private compaines to develop the land. The haryana government
relented and Gurgaon underwent a private real estate boom which is continuing to this day.[6]

In 1985, DLF started developing the 3000 acres it had acquired from farmers.[2]

In 1999, DLF developed its first A-grade office spaces for rent in Gurgaon.[2]

The boom includes world-class office buildings, apartments, golf courses, shopping malls, 5-star
hotels and a private expressway linking Gurgaon to Delhi Airport.

[edit] Recent history

A major office complex in Gurgaon

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,[7] a multi-billion dollar business park in Bangalore,[8]
a US$ 1.7 billion investment in Madhya Pradesh's real estate and infrastructure sector,[9] and a
INR 10 billion investment plan for developing special economic zones in Orissa.[10]

[edit] Developments
DLF builds residential, office and retail properties.

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.

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.
[11]

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.[12] Even though the project has long been completed.
Gallery

External links