DLF Universal Limited
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| DLF Limited | |
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| Type | Public (BSE) |
| Founded | 18 September 1946 as Delhi Land and Finance by Chaudhury Raghuvendra Singh |
| Headquarters |  Delhi, India |
| Key people | Kushal Pal Singh Chairman |
| Industry | Real estate |
| Revenue |  रू. 33.3 billion (FY 2006) |
| Net income | रू. 18.3 billion (FY 2006) |
| Website | www.dlf.in |
DLF Limited, or DLF, is India's largest real estate developer based in New Delhi, India. The DLF Group was founded by Chaudhury Raghuvendra Singh in 1946. DLF developed some of the first 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 its ambitious DLF City project which helped transform Gurgaon from a farming village to a commercial and real estate hub. DLF has been instrumental in putting Gurgaon on the urban landscape of India. Its upcoming plans include hotels, infrastructure and special economic zones-related development projects.[1]
The company is currently headed by Indian billionaire Kushal Pal Singh, who inherited the company from Chaudhury. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2008, now stands as the 8th richest man in the world. The company's US$ 2 billion IPO in July, 2007 created India's biggest IPO in history.[2] In July 2007, DLF announced its first quarter results ending 30th June 2007. The company reported a turnover of Rs. 3,120.98 Crore and PAT at Rs. 1,515.48 Crore.
[edit] Recent history
Until the mid-1990s, most of DLF's operations were in Gurgaon and Delhi metropolitan area. However, with increased assets, DLF has been trying to ramp up it's 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[3], a multi-billion dollar business park in Bangalore[4], a US$ 1.7 billion investment in Madhya Pradesh's real estate and infrastructure sector[5], and a INR 10 billion investment plan for developing special economic zones in Orissa.[6]
The DLF Group has charted it next growth steps to retain its leadership position in India. Already a major player in locations across the country, including metro and key urban centres, DLF, with over six decades of experience, is focusing on strengthening its lateral and vertical business drivers. These include development of innovative business strategies, strengthening its professional resources and driving market penetration with an ear-to-the-ground approach that is adaptive to local market needs.
The group is capitalizing on emerging market opportunities to deliver high-end facilities and projects to its wide base of customers by constantly upgrading its internal skills and resource capabilities. A roster of world-reputed businesses chooses DLF to jointly venture with, to seek growth in India. Among them, Laing O'Rourke- famous UK based construction company credited with construction of Dubai International Airport, London's Millenium 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 townships of pathbreaking concepts in India. WSP Group Plc is also partnering DLF, providing Management and consultancy to the built and natural environment. Feedback ventures the leading practitioners in project management, is providing its expertise in terms of faster project execution. DLF has also tied up with Hilton Hotels to jointly develop world class hotels in India.
All the intensified growth underlines DLF's commitment to quality, trust and customer sensitivity and, delivering on its promise with agility and financial prudence. This, in turn, has earned DLF the coveted 'Superbrand' ranking. DLF is the only company in India in the Consumer validated category from the real estate sector to have been awarded this distinction.
With the growth of the Indian economy and the resulting increase in corporate and consumer incomes, as well as foreign investment, DLF sees significant opportunities for growth in its three primary businesses. DLF's mission is to build a world-class real estate development company with the highest standards of professionalism, ethics and customer service and to thereby contribute to and benefit from the growth of the Indian economy.
DLF is currently sponsoring the Indian Premier League
[edit] External links
[edit] References
- ^ [1]
- ^ IndianExpress.com :: Is India’s largest IPO going to change the Sensex stakes?
- ^ INRnews - Indian Real Estate News: DLF to invest $2.1 Billion in Tamil Nadu real estate and infrastructure
- ^ INRnews - Indian Real Estate News: DLF plans hi-tech IT park in Bangalore
- ^ INRnews - Indian Real Estate News: DLF to invest $1.7 Billion in Madhya Pradesh real estate and infrastructure
- ^ INRnews - Indian Real Estate News: Real estate major DLF to invest Rs 1,000 crores on Orissa IT SEZ | INRnews
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