Page 2 - Dlf

DLF appoints 1981 batch-IRS officer Mahender as independent director

DLF Ltd has appointed Mahender Singh as independent director for a period of five years. In a regulatory filing, the company informed that the board of directors approved, the appointment of Mahender Singh as an independent director for a period of five consecutive years with effect from August 7, 2024. This is subject to the approval of the shareholders. Singh, who holds a master's degree in English, is an IRS (Customs and Central Excise) officer of the 1981 batch. With a career spanning 37 years, he has held various important positions in direct Taxation i.e. Customs, Central Excise and Service Tax. He superannuated as Member (GST), Central Board of Indirect Taxes and Customs in December 2018. In March 2019, Singh was appointed as Member of the first Lokpal of India. He superannuated in March 2024.

Nifty Realty up 2.5% on July 29; what's driving the rally? Analysts weigh

A major driver behind this rally, analysts said, is DLF's strong June quarter performance.

DLF's growth potential anchors market confidence, brick by brick

Constructing value: With fortified finances, real estate major builds on sector consolidation

DLF plans to launch Rs 1.04 trn worth real estate projects in medium term

Realty major DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities with revenue potential of Rs 1.04 lakh crore as part of its strategy to encash strong demand for luxury homes. In its latest investor presentation for the April-June quarter, DLF informed about the "planned launches of Rs 1+ lakh crore (36 million square feet) of new products over the medium term". Giving the break-up, the company said a 12.8 million square feet area will be launched for sales this fiscal with a revenue potential of Rs 42,000 crore. In the subsequent years, DLF intends to launch a 24 million square feet area having a gross development value of Rs 62,500 crore. Out of the total Rs 1,04,500 crore worth projects that it intends to launch in medium term, only Rs 1,000 crore worth is planed from commercial properties and the remaining from the housing segment. These projects, largely residential, will be launched primarily in Delhi, Gurugram, Chandigar

Realty major DLF retains sales bookings target at Rs 17,000 crore for FY25

Realty major DLF has maintained sales bookings guidance of Rs 17,000 crore with likely upside for this fiscal and said it has receivables of around Rs 21,000 crore from customers compared to residual construction expenses of about Rs 11,000 crore on ongoing projects. In a conference with analysts, DLF Managing Director Ashok Tyagi also asserted that the withdrawal of indexation benefit for calculating long term capital gain (LTCG) tax on property sales would not have "much bearing" on consumer demand. When asked whether the company would revise its sales bookings guidance upwards, Tyagi said the company would stick to its target with possible upside and might issue fresh guidance after the second quarter when there would be clear visibility of launches of projects. DLF's sales bookings jumped over three-fold to Rs 6,404 crore during the first quarter of this fiscal on strong demand for its luxury housing properties. The company had sold properties worth Rs 2,040 crore in the year-ag

DLF sales jump over 3X to Rs 6,404 cr in Q1 on high demand for luxury homes

Realty major DLF's sales bookings jumped over three-fold to Rs 6,404 crore during the first quarter of this fiscal on strong demand for its luxury housing properties. The company had sold properties worth Rs 2,040 crore in the year-ago period. DLF has given guidance to achieve Rs 17,000 crore worth of sales bookings for the entire 2024-25 financial year as against nearly Rs 15,000 crore in the preceding year. According to its latest investor presentation, the company's sales bookings in the April-June quarter were driven by its luxury project 'DLF Privana West' at Sector 76/77, Gurugram that saw sales of Rs 5,600 crore. In its super-luxury housing project 'The Camellias' at DLF 5, Gurugram, the company sold 4 units for Rs 251 crore. On Thursday, DLF reported a 23 per cent increase in its consolidated profit to Rs 645.61 crore in the first quarter of this fiscal. Its net profit stood at Rs 527 crore in the year-ago period. Total income rose to Rs 1,729.82 crore during the April-J

DLF Q1FY25 results: Profit increases 23% to Rs 645.61 cr on higher income

Total income rose to Rs 1,729.82 crore during the April-June period of this fiscal from Rs 1,521.71 crore in the corresponding period of the previous year, according to a regulatory filing

Realty indexation benefit gone, tax rate cut in Budget 2024. Stock strategy

Union Budget 2024-25 impact: DLF, Brigade Enterprises, Prestige Estates, Godrej Properties and Sunteck Realty dropped up to 5 per cent afer FM proposed to withdraw indexation benefit on house resale.

Realty check: Avoid buying commercial real estate stocks, caution analysts

On the bourses, shares of Prestige Estates, Oberoi Realty, Brigade Enterprises, DLF, Embassy REIT, and Mindspace Business Parks REIT, have surged in the range of 11 to 214 per cent

DLF to expand housing, commercial property biz: Chairman Rajiv Singh

Realty major DLF will focus on expanding its business to develop residential and commercial projects and is entering new markets Mumbai and Goa to tap into growth opportunities, its Chairman Rajiv Singh said. In his message to shareholders in the annual report, Singh said the company will continue to focus on corporate governance, operational excellence and upholding the value of the company's founders. "Our focus is to expand both our businesses, residential and commercial. The residential business continued its growth momentum, we witnessed an uptick in new sales bookings, coupled with record sales collections. "The markets response to our products continues to be very encouraging. It is with this conviction that we are entering new geographies like Mumbai and Goa," he said. While the company continues to launch new projects in Delhi-NCR, Singh said the company's strategy is to introduce a diverse range of offerings to meet the aspirational needs of the market. DLF has achieved

Real estate stocks strategy: Do not cash out fully, say analysts

residential sales across the top seven cities (National Capital Region, Mumbai Metropolitan Region, Bengaluru, Pune, Hyderabad, Chennai and Kolkata) slipped 8 per cent quarter-on-quarter in Q1-FY25

DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 cr in FY24

DLF's joint venture firm DCCDL's rental income from office buildings increased 7 per cent annually to Rs 3,460 crore in the last fiscal, driven by rent appreciation and expansion of the asset portfolio. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm. DCCDL has an operational rental portfolio of 41.9 million square feet, of which 37.9 million square feet area is office space and 4 million square feet retail real estate. According to an investor presentation of DLF, the DCCDL's rental income from office buildings increased to Rs 3,460 crore in 2023-24 from Rs 3,232 crore in the preceding year. The rental income from retail assets (malls and shopping centres) rose 18 per cent to Rs 865 crore last fiscal from Rs 735 crore in 2022-23. Service and other operating income grew 14 per cent last fiscal to Rs 1,489 crore from Rs 1,311 crore in the preceding year. "DLF's ren

DLF's FY24 sales down 2% to Rs 14,778 crore due to subdued March qtr

India's largest realty firm DLF's sales bookings declined 2 per cent annually to Rs 14,778 crore during the last fiscal year due to a subdued March quarter, which did not see any major project launch despite strong housing demand. Its sales bookings stood at record Rs 15,058 crore in the preceding year. According to an investors presentation, DLF's sales bookings in the fourth quarter of the 2023-24 fiscal fell to Rs 1,462 crore from Rs 8,458 crore in the year-ago period as it did not launch any big projects for sale. Giving details about sales in the last fiscal, DLF said that 82 per cent contribution came from new launches. Out of the total sales bookings, its luxury housing project 'DLF Privana South' at Sector 76/77, Gurugram contributed Rs 7,200 crore. The company achieved a sales bookings of around Rs 1,200 crore from Chandigarh Tri-city. It also sold commercial SCOs(Shop-com-office) for about Rs 1,240 crore. Independent floors in Gurugram were sold for Rs 1,215 ...

Stocks to watch on May 14: Shriram Finance, Zomato, DLF, TCS, Maruti Suzuki

Shriram Finance announced that board has approved the sale of its housing finance subsidiary Shriram Housing Finance to Warburg Pincus for Rs 4,630 crore

DLF Q4 results: Net profit up 62% at Rs 920 cr, total income at Rs 2,316 cr

Realty major DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to Rs 920.71 crore in the quarter ended March on higher income amid strong housing sales. Its net profit stood at Rs 570.01 crore in the year-ago period. Total income rose to Rs 2316.70 crore in the fourth quarter of 2023-24 fiscal from Rs 1,575.70 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24 fiscal, the company's net profit increased to Rs 2,727.09 crore from Rs 2,035.83 crore in the preceding year. Total income grew to Rs 6,958.34 crore during the last fiscal from Rs 6,012.14 crore in the 2022-23 financial year. DLF is the country's largest real estate firm in terms of market capitalisation. It has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of future development potential across residential and commercial segments. DLF group is

DLF sells all 795 flats for Rs 5.6K cr in Gurugram within 3 days of launch

Realty major DLF on Thursday said it has sold all 795 apartments for Rs 5,590 crore within three days of the launch of its new luxury housing project in Gurugram amid strong consumer demand. In a regulatory filing, the company informed the success of its latest luxury residential project 'DLF Privana West' "achieving a remarkable sellout valued at approximately Rs 5,590 crore, within 3 days." The new project is spread over 12.57-acre comprising 795 apartments. In January this year, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre. Both 'DLF Privana West' and 'DLF Privana South' are part of 116-acre 'DLF Privana' township located in Sector 76 and 77. Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, said, "After the overwhelming success of DLF Privana's inaugural project DLF Privana South, 'DLF Privana West' emerges as t

NRIs galore: DLF sells 795 flats priced at Rs 7 cr in Gurugram in 3 days

The project with 795 apartments valued at approximately Rs 5590 crore, sold out entirely within just three days.

Deep Kalra joins bandwagon: DLF's Camellias is now a billionaire boulevard

Deep Kalra has bought a 7430 square foot (sqft) apartment for Rs 46.25 crore and paid a stamp duty of Rs 2.77 crore.

DLF plans to invest Rs 2,200 crore to build shopping mall in Gurugram

Realty major DLF has started construction of its new 26-27 lakh square feet shopping mall in Gurugram at a cost of around Rs 2,200 crore as part of its expansion plan amid rebound in retail consumption post-COVID pandemic. At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC. "We have started construction work of 'Mall of India' in Gurugram. The total size of this mall is 26-27 lakh square feet," DLF's Vice Chairman and MD (Rental Business) Sriram Khattar told PTI on the sidelines of a CII conference on the real estate sector. When asked about investment, he said it would be around Rs 2,200 crore. Khattar said the company is bullish on the growth of the retail sector, which will lead t

DLF plans to raise Rs 600 crore through issue of debentures to investors

Realty firm DLF Ltd is raising Rs 600 crore through issue of non-convertible debentures (NCDs) to investors for refinancing of its existing debts. In a regulatory filing on Wednesday, DLF informed that the company's wholly owned subsidiary DLF Home Developers Ltd has raised this amount. The Securities Allotment Committee of the Board of Directors of DHDL has approved the allotment of 60,000 NCDs, having face value of Rs 1 lakh each, for an aggregate principal amount of Rs 600 crore on a private placement basis to eligible investors. DLF, the country's largest real estate developer in terms of market capitalisation, did not mention where the amount would be utilised. Sources said the amount will be utilised for refinancing its existing debts. DLF Group has 215 million square feet of development potential across residential and commercial segments. The group has an annuity portfolio of over 42 million square feet. The company's sales bookings jumped two times annually to Rs 13,316