DLF Limited (Delhi Land & Finance) is Gurgaon-based commercial real estate developer. It was founded by Chaudhary Raghvendra Singh in 1946 and is based in New Delhi, India. DLF developed residential colonies in Delhi such as Shivaji Park (their first development), Model Town, Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash, Kailash Colony, and Hauz Khas. DLF builds residential, office, and retail properties and in New Chandigarh DLF Mullanpur Hyde Park.
With the passage of Delhi Development Act in 1957, 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 their DLF City project at Gurgaon. Its plans include hotels, infrastructure and special economic zones-related development projects.
The company is headed by Kushal Pal Singh. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2009, was the 98th richest man in the world and the world’s richest property developer. The company’s US$2 billion IPO in July, 2007 was India’s biggest IPO in history. In its first quarter results for the period ending 30 June 2007, the company reported a turnover of ₹31.2098 billion (US$450 million) and profits after taxes of ₹15.1548 billion (US$220 million).
As of 31 March 2012, the Company had a 1,380 square feet of leased retail space across the country. In 2013–14, it leased out 3 million sq ft of office space in India.
In August 2011 a penalty of ₹6.3 billion (US$91 million) was imposed on DLF by the Competition Commission of India (CCI) after finding DLF guilty of breaching laws regarding the unfair pricing of goods and services. The complaint was lodged against DLF by buyers in its residential projects Belaire & Park Place, located in Gurgaon. DLF has paid part of the penalty, and the matter is currently in the Supreme Court of India. In February 2015, the CCI ordered its investigative arm to probe two more projects of DLF in Gurgaon, namely, DLF Regal Gardens and DLF Skycourt.
DLF has about 25 million sq ft of leased office space spread across Gurgaon, Hyderabad, Kolkata, Chandigarh and Chennai, which generates a rental of about Rs 1,950 crore every year and supports Rs 45,000 crore of the company’s debt. DLF has leased office space to Samsung and about 1 lakh sq ft office space to some other companies, including Executive Centre and Corporatedge office facilities.
DLF’s first residential project was Krishna Nagar in East Delhi, which was completed in 1949. Subsequently, the company developed 21 colonies in Delhi, including Model Town, Rajouri Garden, Punjabi Bagh, South Extension, Greater Kailash, Kailash Colony and Hauz Khas. The passage of Delhi Development Act in 1957 was the first serious challenge to company’s growth . The Act meant that the government would assume control of all real estate development activities in the city.
As a result, DLF decided to move beyond Delhi and focused on the suburb of Gurgaon in Haryana. which had the potential for development of residential and commercial properties. As DLF started to acquire land under the leadership of Chairman K.P. Singh, Gurgaon embarked on a period of rapid growth.
The land purchase program adopted a humane approach so that the sellers do not feel short-changed. To this effect, DLF partnered with farmers so that they also got a share in profits. DLF acquired and created a land bank and then sold plots to buyers after demarcation. The profits from the sales were subsequently shared with farmers, which encouraged more farmers to come forward and partner with DLF.
DLF Camellias is the most expensive and high end luxury residential development by DLF India so far. They are available ‘special-by-invitation’ allotment only.
The DLF group was founded in 1946 by Chaudhary Raghuvendra Singh. Together with its subsidiaries, joint ventures and associates the group is primarily in the business of real estate development. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down–cycles in the market. DLF has also forayed into infrastructure, SEZ and hotel businesses. It operates in all aspects of real estate development, ranging from acquisition of land, to planning, executing, constructing & marketing of project. The group is also engaged in the business of generation and transmission of power, provision of maintenance services, hospitality and recreational activities.
DLF has developed some of the first residential colonies in Delhi such as Krishna Nagar in East Delhi, which was completed in 1949. Since then they have been responsible for the development of many of Delhi’s other well known urban colonies, including South Extension, Greater Kailash, Kailash Colony and Hauz Khas.
Following the passage of the Delhi Development Act in 1957, the state assumed control of real estate development activities in Delhi, which resulted in restrictions on private real estate colony development. They therefore commenced 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.
This led to their first landmark real estate development project – DLF Qutab Enclave, which has now evolved into DLF City. DLF City is spread over 3,000 acres in Gurgaon and is an integrated township, which includes residential, commercial and retail properties in a modern city infrastructure with schools, hospitals, hotels and shopping malls. It also boasts of the prestigious DLF Golf and Country Club with night golfing facilities.
DLF is India’s largest real estate company in terms of revenues, earnings, market capitalisation and developable area, it is the largest real estate developer in India with 266 million square feet worth of developed and under development projects. In line with its current expansion plans, DLF has over 425 million sq. ft. of development across its businesses, including developed, on–going and planned projects. This land bank is spread over 32 cities, mostly in metros and key urban areas across India. Already a major player in locations across the country, DLF, with over six decades of experience, is capitalising 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.
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’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down–cycles in the market. DLF has recently forayed into the infrastructure, SEZ and hotel businesses.
DLF’s office segment is one of the group’s most admired verticals. Nearly 40 msf of ongoing projects forms a strong portfolio for DLF offices, having reached a mature delivery platform of 11–12 msf on an annual basis. Current land resource owned by DLF for development of offices across the country is 164 msf approximately.
With a booming retail environment on the horizon, this is a major thrust area for the Group and DLF is actively creating new shopping and entertainment spaces all over the country. The company has 12 mn sq. ft of retail projects under construction and owns land resource of another 92 msf for development in metros and other key urban destinations across the country. These include categories of prime downtown shopping districts, shopping centres and super luxury malls, amongst others.
The business of DLF is organized on a SBU basis. The Homes SBU caters to 3 segments of the residential market – Super Luxury, Luxury and Mid–Income. The product offering involves a wide range of products including condominiums, duplexes, row houses and apartments of varying sizes.
In October 2009, DLF was conferred Best Global Developer Award, 2009 by Euromoney.
In November 2009, DLF sold DT Cinemas and entered into a long term strategic alliance with PVR.
In March 2010, Caraf (along with its subsidiaries) became a wholly–owned arm of Cyber City DLF’s subsidiary, thus giving effect to the integration process.
In May 2010, DLF launched second phase of Garden City, DLF New Indore
In May 2011, after the phenomenal response to first phase of its project Garden City, DLF New Indore, DLF, India’s largest real estate company, announced the launch of the second phase of the project.
In 2014 DLF GLOBAL HOSPITALITY LTD ‘DGHL’ a 100% step down subsidiary of DLF Ltd. announced that it has completed the sale of 100% equity stake in Silverlink Resorts Ltd. ‘SRL’ the owner of Amanresorts to Aman Resorts Group Ltd. ‘ARGL’ a Joint Venture between Peak Hotels & Resorts Group Ltd. ‘PHRL’ and Mr. Adrian Zecha, the founder of Amanresorts for an Enterprise Value of USD 358 million.
The company’s business is spread across different divisions:
Projects of the company:
DLF Capital Greens, Shivaji Marg, Delhi
Express Greens, Gurgaon
The Belaire Gurgaon
Green Estate, DLF Nandigama (Shamshabad Extn.), Hyderabad
Westend Heights, BTM Bangalore
Gardencity DLF OMR, Chennai
Gardencity DLF New Indore, and many more
DLF Cyber SEZ Gurgaon Building 14
DLF IT Park Gandhinagar
DLF IT SEZ Chennai
DLF IT SEZ Hyderabad
DLF IT PARK–II Kolkata
City Centre ,Chandigarh
The Galleria Jallandhar, Punjab
The Galleria Kolkata
DLF Towers Banjara Hills, Hyderabad
The Summit, Gurgaon
The Pinnacle, Gurgaon
The Regency Park–II ,Gurgaon
The Richmond Park ,Gurgaon
DLF Exclusive Floors, Gurgaon
The Silver Oaks, Gurgaon
DLF Centre, Gurgaon
DLF Gateway Tower, Gurgaon
City Centre Shalimar Bagh, New Delhi, and many more
NDTV in it’s first Property Awards, adjudged DLF as the ‘Top Residential Space Developer’. According to NDTV, these awards has been initiated to recognize excellence in Indian real estate sector. The award ceremony was held at The Taj Palace, New Delhi on 3rd June, 2013
DLF has been entrusted with the honour of being ‘the most respected real estate company in India’ in real estate category by Business World magazine, in an awards event held at The Oberoi, New Delhi on 08 February 2011.
In 2011 the company delivered delhi’s first automated car parking in Sarojini Nagar
The most respected real estate company award in real estate category by Business World magazine
Business Leadership Awards
K P Singh wins special NDTV Award.
B. Pant University conferred an Honorary Degree of Doctor of Science to Mr. KP Singh.
Dr. Kushal Pal Singh, popularly known as K. P. Singh, is the Chairman of the Board of DLF Limited, India’s largest real estate company with a pan India presence in over 24 Cities across 15 States. Dr. Singh is widely recognized across the world for his path-breaking and visionary contributions to the building of modern India through his pioneering role as a real estate developer and corporate leader who has transformed the urban landscape of the country by setting new standards in the housing and urban development scenario and creating world class infrastructure to attract unprecedented levels of foreign and domestic investment inflows, generating new employment opportunities and changing lifestyles.
Born on August 15, 1931, Dr. K.P. Singh pursued Aeronautical Engineering in UK, after graduating in Science and was subsequently selected to the Indian Army by British Officers Services Selection Board, UK and thereafter commissioned into a renowned cavalry regiment of the Indian Army. In 1960, he joined American Universal Electric Company and soon after its merger with DLF Universal Limited in 1979, he took over as the Managing Director.
In the early Eighties, Dr. K. P. Singh took it upon himself to spearhead a total transformation in the Housing and Urban Development scenario in the country. Visualizing that only the collaborative efforts of both the public and private sectors could achieve the goal of creating cities of the future with adequate housing and urban infrastructure to meet the needs of future generations, he worked towards bringing to an end the era of State monopoly and opening the doors for professional private developers to play a major role in building onsite infrastructure for homes, offices and entertainment and retail complexes. He was one of the pioneers of the concept of Public-Private Partnership in the urban development sector, with the private sector involved in creating on-site infrastructure and the public sector responsible for providing off-site infrastructure, the funding for which was mobilized from the property-owners and paid to the Government.
His visionary efforts were crowned with success, through the innovative Gurgaon satellite city project, which is today the single-most important and influential urban development model in Independent India that is being replicated elsewhere in the country.
Dr. Singh is also widely credited with conceptualizing a unique and innovative model for acquisition of land from the farmers by involving the farming community as ’Partners in Progress’ in Housing and Urban Development. He has been a firm believer in corporate intervention in the social sector encompassing CSR and philanthropic activities like improvements in the living standards of construction workers, and providing basic education and healthcare facilities in adopted villages in and around DLF townships.
Dr. K.P. Singh has pioneered a national movement for Self-Regulation and Ethics in the Indian Housing and Real Estate Industry that has blossomed into National Real Estate Development Council (NAREDCO) – the apex autonomous self regulatory body of Public and Private Sectors, functioning under the patronage of the Ministry of Housing and Urban Poverty Alleviation, Government of India, with State Real Estate Development Councils (State-REDCOs) being established in various States of the country.
One of Dr. K. P. Singh’s most outstanding contributions to the Indian economy has been his historic pioneering role in creating world-class infrastructure to attract foreign direct investment (FDI) and also to facilitate the advent of the business process outsourcing (BPO) phenomenon.
Dr. K. P. Singh is the recipient of numerous awards and honours. The most prestigious of which is the Padma Bhushan award, conferred to him by the Government of India on 26th January 2010. He has also been conferred honorary doctorate degree by the G. B. Pant Agriculture University and has been honoured by several well-known universities and educational institutions in India and abroad, including the Indian Business School, Indian Institute of Management and Indian Institute of Technology. He is the recipient of the Delhi Ratna Award by the Government of Delhi for his valuable contribution towards the development of Delhi. He has been awarded with the Samman Patra Award for being one of the top tax payers of Delhi region in fiscal 2000 by the Government of India. In 2008, Forbes magazine ranked Dr. Singh as the richest real estate baron and the eighth richest person in the world, at a net worth of US$30 billion. NDTV, a well known media house, conferred him with a Special Award at the Indian of the Year Award function held in January 2008.
DLF has over 70 years of track record of sustained growth, customer satisfaction, and innovation. The total developable potential of DLF stands at 227 msf. The company has a total of 7.4 msf under construction presently and 17 msf of planned projects underway.
DLF’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.
The development business of DLF includes Homes and Commercial Complexes. The Homes business caters to 3 segments of the residential market – Super Luxury, Luxury and Premium. The product offering involves a wide range of products including condominiums, duplexes, row houses and apartments of varying sizes.
DLF is credited with pioneering the concept of developing commercial complexes in the vicinity of residential areas. DLF has successfully launched commercial complexes and is in the process of making its presence across locations in India. The development business at present has 208 msf of development potential.
The annuity business consists of the rental businesses of offices and retail. DLF is a name synonymous with global standards new generation workspaces and lifestyles. It has the distinction of developing commercial projects and IT parks that are at par with the best in the world. DLF has become a preferred name with many IT & ITES majors and leading Indian and International corporate giants, including GE, Microsoft, Canon, Citibank, Hewitt, WNS, Bank of America, Cognizant, Infosys, CSC and Symantec, among others.
DLF pioneered the retail revolution in the country and brought about a paradigm shift in the industry by redefining shopping, recreation and leisure experiences. DLF’s retail portfolio includes India’s first luxury mall DLF Emporio, Premium malls – DLF Promenade (Vasant Kunj, Delhi), DLF Place (Saket, Delhi), DLF City Centre (Chandigarh) and DLF Cyber Hub (Gurgaon). The latest addition to this marquee portfolio is Mall of India – which is India’s largest destination mall. DLF continues to actively create new shopping and entertainment spaces all over the country. DCCDL has a development potential of 19 msf.
DLF has a strong management team running independent businesses, though complementing each other in cases of opportunities of mixed land use. 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.