Delhi Land & Finance (DLF Limited) is a
commercial real estate
Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office bu ...
developer. It was founded by Chaudhary Raghvendra Singh in 1946 and it is based in
New Delhi
New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament House ...
, India.
DLF developed residential colonies in Delhi such as,
Model Town,
Rajouri Garden
Rajouri Garden is a market and residential neighbourhood in West Delhi, India. The Main Market and Nehru Market are the key markets of the area. The population is largely Punjabi who migrated to Delhi, following the Partition of India, from Paki ...
,
Krishna Nagar,
South Extension
South Extension is a neighbourhood of South Delhi, India. It is also described as a premier shopping destination. Situated on the Ring Road, Delhi, just east of All India Institute of Medical Sciencesbr>ref name=":0" /> The colony is divided in ...
,
Greater Kailash
Greater Kailash (often referred to as GK) is a residential area in South Delhi consisting of prime and luxurious real estate in several neighborhoods and multiple markets. It is divided into two zones, namely Parts 1 and 2, located around a se ...
,
Kailash Colony
Kailash Colony is a residential neighborhood in South Delhi, India. Greater Kailash is extension of this place.
Neighborhoods
Its neighboring areas are Kailash Hills, East of Kailash, Mount Kailash Apartments, Greater Kailash, Lajpat Nagar, Ch ...
, and
Hauz Khas
Hauz Khas is a neighborhood in South Delhi, its heart being the historic Hauz Khas Complex. Well known in medieval times, the Hauz Khas village has amazing buildings built around the reservoir. There are remnants of Islamic architecture rough ...
. DLF builds residential, office, and retail properties.
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 a relatively low cost outside the area controlled by the
Delhi Development Authority
The Delhi Development Authority (DDA) is a planning authority created in 1957 under the provisions of the Delhi Development Act "to promote and secure the development of Delhi". It is responsible for planning, development and construction of h ...
, in the district of
Gurgaon
Gurgaon (pronunciation: ʊɽɡãːw, officially named Gurugram (pronunciation: ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...
, in the adjacent state of
Haryana
Haryana (; ) is an Indian state located in the northern part of the country. It was carved out of the former state of East Punjab on 1 Nov 1966 on a linguistic basis. It is ranked 21st in terms of area, with less than 1.4% () of India's land ar ...
. In the mid-1970s, the company started developing their
DLF City project at
Gurgaon
Gurgaon (pronunciation: ʊɽɡãːw, officially named Gurugram (pronunciation: ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...
. Its plans included hotels,
infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...
and
special economic zones
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increas ...
-related development projects.
The company is headed by
Kushal Pal Singh
Kushal Pal Singh (born 15 November 1931) is an Indian billionaire real estate developer, and the chairman and CEO of real estate developer DLF Limited, founded by his father-in-law Chaudhary Raghvender Singh. DLF has an estimated land bank of ...
. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2020, is the 494th richest man in the world with a net worth of US$3.6 billion. The company's 2 billion
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
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 and profit after taxes of .
As of 31 March 2012, the company had 1,380 square feet of leased retail space across the country. In 2013–14, it leased out 3 million sq ft of
office space
''Office Space'' is a 1999 American black comedy film written and directed by Mike Judge. It satirizes the worklife of a typical 1990s software company, focusing on a handful of individuals weary of their jobs. It stars Ron Livingston, Jennifer ...
in India.
In August 2011 a penalty of was imposed on DLF by the
Competition Commission of India
The Competition Commission of India (CCI) is the chief national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition a ...
(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
Gurgaon (pronunciation: ʊɽɡãːw, officially named Gurugram (pronunciation: ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...
. In February 2015, the CCI ordered its investigative arm to probe two more projects of DLF in
Gurgaon
Gurgaon (pronunciation: ʊɽɡãːw, officially named Gurugram (pronunciation: ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...
, namely, DLF Regal Gardens and DLF Skycourt.
History
DLF's first residential project was Krishna Nagar in East Delhi, which was completed in 1949. Subsequently, the company developed 21 colonies in
Delhi
Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, primarily its western or right bank, Delhi shares borders w ...
, including
Model Town,
Rajouri Garden
Rajouri Garden is a market and residential neighbourhood in West Delhi, India. The Main Market and Nehru Market are the key markets of the area. The population is largely Punjabi who migrated to Delhi, following the Partition of India, from Paki ...
,
Punjabi Bagh
Punjabi Bagh is a locality in Delhi, India. It also is one of the three sub-zones of West Delhi.
History
The land of nearby Madipur village was acquired by government of India for resettlement of refugees from Pakistan.It was previously call ...
,
South Extension
South Extension is a neighbourhood of South Delhi, India. It is also described as a premier shopping destination. Situated on the Ring Road, Delhi, just east of All India Institute of Medical Sciencesbr>ref name=":0" /> The colony is divided in ...
,
Greater Kailash
Greater Kailash (often referred to as GK) is a residential area in South Delhi consisting of prime and luxurious real estate in several neighborhoods and multiple markets. It is divided into two zones, namely Parts 1 and 2, located around a se ...
,
Kailash Colony
Kailash Colony is a residential neighborhood in South Delhi, India. Greater Kailash is extension of this place.
Neighborhoods
Its neighboring areas are Kailash Hills, East of Kailash, Mount Kailash Apartments, Greater Kailash, Lajpat Nagar, Ch ...
and
Hauz Khas
Hauz Khas is a neighborhood in South Delhi, its heart being the historic Hauz Khas Complex. Well known in medieval times, the Hauz Khas village has amazing buildings built around the reservoir. There are remnants of Islamic architecture rough ...
. 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
Gurgaon (pronunciation: ʊɽɡãːw, officially named Gurugram (pronunciation: ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...
in
Haryana
Haryana (; ) is an Indian state located in the northern part of the country. It was carved out of the former state of East Punjab on 1 Nov 1966 on a linguistic basis. It is ranked 21st in terms of area, with less than 1.4% () of India's land ar ...
.
which had the potential for development o
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.
A 58 crore deal was cancelled between DLF and
Robert Vadra
Robert Vadra (born 18 April 1969) is an Indian businessman, entrepreneur and the husband of Priyanka Gandhi. He is the son-in-law of Sonia Gandhi and the brother-in-law of Rahul Gandhi.
Early life and family
Robert Vadra was born to Rajendra a ...
by
IAS IAS may refer to:
Science
* Institute for Advanced Study, in Princeton, New Jersey, United States
* Image Analysis & Stereology, the official journal of the International Society for Stereology & Image Analysis.
* Iowa Archeological Society, Uni ...
officer
Ashok Khemka.
DLF climbs 4% as realty firm sells 292 luxury homes for Rs 1,800 crore.
Sponsorship
In 2008, DLF became the
title sponsor
Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of t ...
of the
Indian Premier League
The Indian Premier League (IPL), also known as TATA IPL for sponsorship reasons, is a men's T20 franchise cricket league of India. It is annually contested by ten teams based out of seven Indian cities and three Indian states. The leagu ...
, a newly formed
Twenty20
Twenty20 (T20) is a shortened game format of cricket. At the professional level, it was introduced by the England and Wales Cricket Board (ECB) in 2003 for the inter-county competition. In a Twenty20 game, the two teams have a single innin ...
cricket
Cricket is a bat-and-ball game played between two teams of eleven players on a field at the centre of which is a pitch with a wicket at each end, each comprising two bails balanced on three stumps. The batting side scores runs by striki ...
league. DLF paid close to for the 5-year sponsorship deal.
The deal ended in the 2012 version of the season; wherein it was taken over by
PepsiCo Inc
PepsiCo, Inc. is an American multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo's business encompasses all aspects of the food and beverage market. It oversees the manuf ...
.
Beyond buildings
Haryana Urban Development Authority
Haryana Shahari Vikas Pradhikaran (HSVP), formerly Haryana Urban Development Authority (HUDA), is the urban planning agency of the state of Haryana in India except Gurugram and Faridabad which has Gurugram Metropolitan Development Authority and ...
(HUDA) and DLF, in a 50:50 joint venture, have completed work on a 16- lane, 10.5 km road network in Gurgaon. This stretch from
NH8 Toll Plaza to Sector 55/56 in Gurgaon with six underpasses, one flyover and freeways has improved traffic management in the city.
To create this infrastructure facility, DLF had engaged
Parsons Brinckerhoff
WSP USA, formerly WSP, Parsons Brinckerhoff and Parsons Brinckerhoff, is a multinational engineering and design firm with approximately 14,000 employees. WSP stands for Williams Sale Partnership. The firm operates in the fields of strategic con ...
for project management consultancy and construction work had been awarded to
IL&FS
Infrastructure Leasing & Financial Services Limited (IL&FS) is an Indian state-funded infrastructure development and finance company. It was created by public sector banks and insurance companies.
It operates through more than 250 subsidiaries i ...
.
Constructed buildings
References
External links
*
{{Authority control
Real estate companies established in 1946
Companies based in New Delhi
Real estate companies of India
Indian companies established in 1946
Companies listed on the National Stock Exchange of India
Companies listed on the Bombay Stock Exchange