Page 4 - Dlf

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.

Launch portfolio to support sales momentum for real estate major DLF

The sales in the quarter were led by the premium Camellias project which had bookings of Rs 720 crore

DLF's sales bookings rise 9% to Rs 2,228 crore during Jul-Sep quarter

Realty major DLF has achieved a 9 per cent growth in sales bookings to Rs 2,228 crore during the second quarter of this fiscal mainly on better demand for its luxury housing project. According to its investors' presentation, DLF clocked sales bookings of Rs 2,228 crore during the July-September period of this fiscal from Rs 2,052 crore in the year-ago period. DLF sold 14 units at its super-luxury housing project 'The Camellias' for Rs 720 crore during the second quarter of this fiscal. The company sold commercial units worth Rs 160 crore. In a statement, DLF said, "Our new products and existing inventory continue to evince strong customer interest. Our super luxury offering - The Camellias in DLF 5, Gurugram, saw healthy demand during the second quarter and continues to set new benchmarks vindicating strong demand for high quality residential products backed by a strong brand". DLF said it continues to see sustained demand momentum across all segments and hence keeps a positive ...

Stocks to Watch: TVS Motor, RIL, Tata Motors, Marico, DLF, Triveni Eng, P&G

Stocks to watch on October 31, 2023: Reliance Jio has made a contrarian call vis-a-vis competitors by deciding not to raise the 5G tariff, which is currently at the same level as 4G

DLF Q2 results: Net profit up 31% to Rs 623 cr on higher revenue

Realty major DLF on Monday reported a 31 per cent rise in consolidated net profit to Rs 622.78 crore for the second quarter of this fiscal year on higher revenue. Its net profit stood at Rs 477.04 crore in the year-ago period. Total income increased to Rs 1,476.42 crore from Rs 1,360.30 crore in the corresponding period of the previous year, according to a regulatory filing. During the April-September period of this fiscal, DLF's net profit rose to Rs 1,149.78 crore from Rs 946.61 crore in the year-ago period. Total income grew to Rs 2,998.13 crore in the first six months of this fiscal from Rs 2,876.78 crore earlier.

Wealthy Indian diaspora wooed by DLF to buy luxury apartment for investment

Earlier this year, DLF had sold 1,137 apartments costing almost a million dollars each in just three days

Realty shares in focus; Prestige, Godrej Properties, DLF rally up to 10%

The S&P BSE Realty index up 3 per cent was the top gainer among sectoral indices on Tuesday.

Stocks to Watch today: Bajaj duo, LIC, JSW Infra, Adan Ent, HDFC Bank, DLF

Stocks to Watch on Wednesday, October 4, 2023: Bajaj Finserv's insurance arm, Bajaj Allianz General Insurance has received a show cause notice alleging a tax demand of Rs 1,010.05 crore

DLF's rental arm DCCDL raises Rs 1,100 cr through issue of debentures

DLF's rental arm DCCDL has raised Rs 1,100 crore through issuance of non-convertible debentures on a private placement basis. In a regulatory filing on Thursday, DLF informed that the DLF Cyber City Developers Ltd (DCCDL) board has approved the allotment of debentures. DCCDL said that the securities allotment committee of the Board of Directors has approved the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs (Non Convertible Debentures) of the face value of 1 lakh each on a private placement basis to eligible investor(s). The size of the issue is Rs 1,100 crore. These NCDs will be listed on the BSE. The coupon rate is 8.25 per cent per annum. The maturity is August 17, 2033. DCCDL is a joint venture between DLF and Singapore sovereign wealth fund GIC. DLF holds a 66.67 per cent stake while the GIC has a 33.33 per cent stake in the DCCDL. DLF holds the bulk of its rental assets (offices and shopping malls) through DCCDL. DCCD

DLF eyes Rs 400 cr revenue from new 92 independent floors in Gurugram

Realty major DLF expects a revenue of around Rs 400 crore from sales of 92 luxury independent floors which it will develop on corner plots in Gurugram, its Executive Director Aakash Ohri said. The company has many corner plots in Gurugram and is launching 92 independent floors. These floors will be sold in a price range of Rs 4-5.5 crore each with size between 2,400 square feet and 3,100 square feet. "We are launching more independent floors in Gurugram as demand is huge for this premium product," DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. He said the company is expecting a sales revenue of Rs 400 crore from these 92 independent floors. "We have launched and sold independent floors worth Rs 7,650 crore in Gurugram and Chandigarh tri-city (Chandigarh, Mohali and Panchkula)," Ohri said. Recently, DLF Managing Director Ashok Kumar Tyagi had said the company would launch two luxury housing projects worth Rs 15,000 crore in Gurugram during the second

DLF to launch 2 luxury housing projects in Gurugram: MD Ashok Tyagi

Realty major DLF Ltd will launch two luxury housing projects worth Rs 15,000 crore in Gurugram during the second half of this financial year to expand its business amid strong demand for premium homes, its Managing Director Ashok Kumar Tyagi said. Buoyed by sales of Rs 8,000 crore worth of flats within three days in February in its new project 'The Arbour' at Gurugram, Tyagi said the company has set a target to achieve sales bookings of Rs 13,000 crore in this fiscal year and hopes to exceed the number. During the 2022-23 financial year, DLF posted sales bookings of Rs 15,058 crore, a more than two-fold increase from Rs 7,273 crore in the previous year. In an interview with PTI, Tyagi talked about the overall housing market and noted that the demand for ultra-luxury, luxury and mid-income residential properties is very strong. However, he mentioned that there is some stress in the affordable housing segment because of the rise in interest rates on home loans and an increase in hous

Avg rent in Gururgram increases by 28% annually in Jan-Jun: Savilis

The average monthly rental for premium housing rose 28 per cent year-on-year in Gurugram during the January-June period of this year on higher demand, limited supply and appreciation in capital values, according to Savills India. In Gurugram, the "average rentals witnessed an increase of 28 per cent YOY (year-on-year) across all markets. GCER (Golf Course Extension Road & SPR (southern peripheral road) and Golf Course Road saw the highest rise in rentals with 33 per cent and 31 per cent YOY growth, respectively," real estate consultant Savills said in its report. As per the report, the average quoted rentals are for 3BHK and 4BHK apartments on Golf Course Road and 3-BHK apartments in other micro markets. As per the Savills data of the first half of 2023, Golf Course Road commands a monthly average rental of Rs 1,95,941, while the average rent at Golf Course Extension Road and Southern Peripheral Road is Rs 1,01,000 a month. The data showed that average rent in New Gurugram is Rs ..

DLF, Medanta to develop 400-bed multi-specialty hospital in Delhi

Realty major DLF on Thursday announced that it has tied up with Global Health Ltd (Medanta) to set up a 400-bed multi-speciality hospital in the national capital. The two companies will have an equal partnership in the new joint venture. DLF and Global Health Ltd -- a leading private multi-specialty tertiary care provider -- have "entered into an understanding for forming a company to launch a 400-bed multi-super specialty hospital to provide the highest quality of healthcare in the heart of Delhi in Greater Kailash-I." Both DLF and Medanta will own 50-50 equity in the new company. DLF will be a strategic investor and Medanta will run the hospital and have operational control. DLF Chairman Rajiv Singh said, We are excited to participate in setting up a world class hospital in South Delhi at a location which is closely associated with the origins of our company." The new hospital will strengthen the medical infrastructure in Delhi and further strengthen its deep commitment to impr

DLF's net debt falls 92% to record low Rs 57 cr at end of June quarter

Realty firm DLF's net debt has come down by 92 per cent to Rs 57 crore -- the lowest level -- at the end of the first quarter of this fiscal on better cash flow driven by strong housing sales. According to an investors' presentation, DLF's net debt stood at Rs 57 crore as on June 30, 2023 as compare to Rs 721 crore at the end of 2022-23 fiscal. During the period under review, the company's gross debt also fell to Rs 3,068 crore from Rs 3,840 crore. "We continue to focus on strengthening our balance sheet and cash generation. Strong collections led to a further reduction in net debt during the quarter. Consequently, our net debt now stands reduced to the lowest ever at Rs 57 crore," DLF's Group Chief Financial Officer Vivek Anand told investors. As per the transcript of the investors' call, Anand said, "With these low levels of debt, we have almost achieved our commitment of being net zero and hopefully should end the year with a surplus cash position." Recently, DLF reported a 12 p

Stocks to Watch on Aug 2: HeroMoto, Campus Activewear, Adani Wilmar, Titan

Stocks to Watch today, August 2, 2023: According to reports, Campus Activewear is expected to see a block deal for eight million shares at a price of Rs 295-300 apiece.

DLF's KP Singh sells entire 0.59% stake for Rs 731 crore; stock down 3.7%

In June 2020, Singh retired as the realty firm's chairman after nearly six decades

DLF's KP Singh sells entire 0.59% stake for Rs 731 cr: Stock exchange data

Billionaire KP Singh has sold his entire remaining stake in real estate firm DLF for around Rs 731 crore, according to the stock exchange data. It wasn't clear why Singh, who in June 2020 was named the chairman emeritus, sold the shares in the company that is now headed by his son Rajiv. According to bulk deal data on BSE, Kushal Pal Singh, one of the promoters, sold 1,44,95,360 shares on the stock exchange at Rs 504.21 each, totalling Rs 731 crore. DLF's share opened at Rs 510 per share on BSE but closed 3.65 per cent down at Rs 499.70 apiece from the Monday closing price following the sale of a large number of shares by one of the promoters. Its market cap stood at Rs 1,23,691 crore on Tuesday's closing price. As per the DLF's shareholding pattern as on June 30, 2023, 93-year-old Singh held 1,44,95,360 shares, which is equivalent to 0.59 per cent shareholding in the company. Promoters group held a 74.95 per cent stake in the company at the end of the June quarter. In June 2020