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| Company type | Public |
|---|---|
| ISIN | INE271C01023 |
| Industry | Real estate |
| Founded | 4 July 1946 |
| Founder | Ch. Raghvendra Singh |
| Headquarters | DLF Gateway Tower, Phase 2,Gurugram,Haryana, India |
Key people | Kushal Pal Singh (retd. Chairman) Rajiv Singh (Chairman) |
| Products | Offices Apartments Shopping malls Hotels Golf courses Infrastructure |
| Revenue |  ₹6,958 crore (US$820 million)[1] (2024) |
| ₹2,724 crore (US$320 million) (2024) | |
| Total assets | ₹60,262 crore (US$7.1 billion) (2024) |
Number of employees | 1,608 (excluding hotel business) (March 2019) |
| Website | www |
DLF Limited (formerlyDelhi Land & Finance) is an Indiancommercial real estate development company. It was founded byChaudhary Raghvendra Singh in 1946, and it is based inNew Delhi, India.[2][3] DLF has developed residential colonies in Delhi such asModel Town,Rajouri Garden,Krishna Nagar,South Extension,Greater Kailash,Kailash Colony, andHauz Khas. DLF buildsresidential, office, and retail properties.[4][5]
With the passage of theDelhi Development Act in 1957, the local government assumed control of real estate development and banned private real estate developers from Delhi proper. As a result, DLF began acquiring land at a relatively low cost outside the area controlled by theDelhi Development Authority, in the district ofGurgaon, and in the adjacent state ofHaryana. In the mid-1970s, the company started developing theirDLF City project atGurgaon. This included hotels,infrastructure, andspecial economic zones-related development projects.
The company is headed by Rajiv Singh, who is the current chairman of the DLF Group. According to the Forbes listing of richest billionaires in 2023, Kushal Pal Singh, Chairman Emeritus, is the 19th richest man in India with a net worth of US$8.8 billion. The company's $US$2 billionIPO in July 2007 was India's biggest IPO in history.[6] In its first quarter results for the period ending 30 June 2007, the company reported a turnover of₹31.2098 billion (US$370 million) and profit after taxes of₹15.1548 billion (US$180 million).[7]
As of 31 March 2012, the company had 1,380 square feet of leased retail space across the country.[8] In 2013–14, it leased out 3 million sq ft ofoffice space in India.[9][10]
DLF's first residential project wasKrishna Nagar inEast Delhi, which was completed in 1949. Subsequently, the company developed 21 colonies inDelhi, includingModel Town,Rajouri Garden,Punjabi Bagh,South Extension,Greater Kailash,Kailash Colony andHauz 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.[11]
As a result, DLF decided to move beyondDelhi and focused on the suburb ofGurgaon in Haryana,[12] which had the potential for development of residential and commercial properties. As DLF started to acquire land under the leadership of ChairmanK.P. Singh, Gurgaon embarked on a period of rapid growth.[13]
A₹58 crore deal was cancelled between DLF andRobert Vadra byIAS officerAshok Khemka.[14]
In 2008, DLF became thetitle sponsor of theIndian Premier League, a newly formedTwenty20cricket league. DLF paid close to₹2 billion (US$24 million) for the five-year sponsorship deal.[15] The deal ended in the 2012 version of the season, wherein it was taken over byPepsi.
Haryana Urban Development Authority (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 fromNH8 Toll Plaza to Sector 55/56 in Gurgaon with six underpasses, one flyover and freeways has improved traffic management in the city.[16] To create this infrastructure facility, DLF had engagedParsons Brinckerhoff for project management consultancy and construction work had been awarded toIL&FS.[17]
In August 2011, a penalty of₹6.3 billion (US$75 million) was imposed on DLF by theCompetition Commission of India (CCI)[18] 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 inGurgaon.[19] In February 2015, the CCI ordered its investigative arm to probe two more projects of DLF inGurgaon, namely, DLF Regal Gardens[20] and DLF Skycourt.[21][22]
DLF land grab case pertains to the alleged illegal acquisition of 50 acres of land in Amipur village,Haryana, back in 2013, duringBhupinder Singh Hooda's tenure as Chief Minister under the Congress government. This matter has led to an investigation by theCentral Bureau of Investigation involvingRobert Vadra, Bhupinder Singh Hooda, and the DLF, as of around December 2017.[23]
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