DLF UNIVERSAL LIMITED

'DLF Universal Limited', or 'DLF', is India's largest real estate developer based in New Delhi. The company was founded by Indian businessman Chaudhury Raghuvendra Singh in 1946 to trade in the real estate business after the forthcoming partition. Dlf developed some of the first residential colonies in Delhi such as Krishna Nagar. 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. The company has interests in commercial, residential and retail real estate market. 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. The company's proposed US$ 2 billion IPO in July, 2007 is expected to set a number of records:

★ Create India's biggest IPO in history. [2]

★ Make DLF, one of the biggest listed real-estate companies in the world.

★ Make Singh one of the richest persons in India.^[2]
However the company has been plagued with a plethora of corporate governance issues. DLF was a listed company earlier which was fined by SEBI for violating the listing norms. It went to delist the stocks from the market by paying a meagre sum of Rs 50 crore for which they are asking in two years around Rs 9000 crores. DLF applied for its IPO in 2006 but was blocked by minority shareholders because of debenture fraud. When it came to light, Postal department filed an FIR alleging irregularities in the process. Later on DLF compensated the minority stakeholders by restoring their shares and was allowed to list.
In July 2007, DLF announced its first quarter ending 30th June 2007. The company reported a turnover of Rs. 3,120.98 Crore and PAT at Rs. 1,515.48 Crore. ^[3]

Contents

Recent history

Problems

External links

References

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 aggressively trying to ramp up it's operations all over India. A major investment made by DLF was a 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^[4], a multi-billion dollar business park in Bangalore^[5], a US$ 1.7 billion investment in Madhya Pradesh's real estate and infrastructure sector^[6], and a INR 10 billion investment plan for developing special economic zones in Orissa.^[7]

Problems

External links

★ DLF Group

★ DLF - The Indian Real Estate Developer

References

1. [1]
2. [3]
3. DLF Ltd continues on growth path, net profit for the quarter at Rs. 1,515.48 Crore
4. [4]
5. [5]
6. [6]
7. [7]