DLF (company)

2023-08-29T14:44:06Z

Prachigujral: wrong address update with spelling error corection

{{Short description|Indian commercial real estate developer}}
{{Use Indian English|date=October 2020}}
{{Use dmy dates|date=October 2020}}
{{Infobox company
| name = DLF Limited
| logo = DLF logo.svg
| logo_size =
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|532868}}|{{NSE|DLF}}}}
| founder = Ch. Raghvendra Singh
| key_people = [[Kushal Pal Singh]] {{small|(retd. Chairman)}} Rajiv Singh {{small|(Chairman)}} Ashok Kumar Tyagi {{small|(CEO & Whole time Director)}} Devinder Singh {{small|(CEO & Whole time Director)}}
| ISIN = INE271C01023
| industry = [[Real estate]]
| products = [[Offices]] [[Apartments]] [[Shopping malls]] [[Hotels]] [[Golf courses]] [[Infrastructure]]
| revenue = {{Increase}} {{INRConvert|6138|c}}<ref>{{cite web |title=Stock share price of DLF Limited |url=https://www.bseindia.com/stock-share-price/dlf-ltd/dlf/532868/financials-results/ |work=BSE India}}</ref>
| revenue_year = 2021-2022
| operating_income =
| income_year =
| net_income = {{Increase}} {{INRConvert|1513|c}}
| net_income_year = 2021-22
| assets = {{Decrease}} {{INRConvert|54809.64|c}}
| assets_year = 2021-22
| equity =
| equity_year = 2021-22
| num_employees = 1,608 (excluding hotel business) (March 2019)
| foundation = 4 July 1946
| location = DLF Gateway Tower, Phase - 3, [[Gurugram]], [[Haryana]], India
| homepage = {{URL|www.dlf.in}}
}}

'''Delhi Land & Finance''' ('''DLF Limited''') is a [[commercial real estate]] developer. It was founded by Chaudhary Raghvendra Singh in 1946 and it is based in [[New Delhi]], India.<ref>{{cite web|url=http://www.dlf.in/dlf/dlffounder/life-journey.html|title=DLF: Leading Real Estate Company in India|website=www.dlf.in|access-date=8 April 2014|archive-url=https://web.archive.org/web/20140507225255/http://www.dlf.in/dlf/dlffounder/life-journey.html|archive-date=7 May 2014|url-status=dead}}</ref><ref name=autogenerated1>{{cite web |url=http://www.dlf.in/dlf/wcm/connect/721e93804c65d8e99c91fc8b9fa0b98f/CorpPresentation-May08.pdf?MOD=AJPERES |title=DLF Ltd. |access-date=17 July 2010 |archive-url=https://web.archive.org/web/20101101072323/http://dlf.in/dlf/wcm/connect/721e93804c65d8e99c91fc8b9fa0b98f/CorpPresentation-May08.pdf?MOD=AJPERES |archive-date=1 November 2010 |url-status=dead }}</ref> DLF developed residential colonies in Delhi such as [[Model Town (Delhi)|Model Town]], [[Rajouri Garden]], [[Krishna Nagar, Delhi|Krishna Nagar]], [[South Extension]], [[Greater Kailash]], [[Kailash Colony]], and [[Hauz Khas]]. DLF builds residential, office, and retail properties.<ref>{{cite news| url=http://www.thehindu.com/news/cities/chennai/dlf-residents-list-litany-of-broken-promises/article4530761.ece | location=Chennai, India | work=The Hindu | first=Sunitha | last=Sekar | title=DLF residents list litany of broken promises | date=21 March 2013}}</ref><ref>{{cite news| url=http://www.thehindu.com/todays-paper/tp-national/dlf-demand-may-put-state-in-a-fix/article5616566.ece | location=Chennai, India | work=The Hindu | first=Appaji | last=Reddem | title=DLF demand may put State in a fix | date=25 January 2014}}</ref>

With the passage of [[Delhi Development Authority|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]], in the district of [[Gurgaon]], in the adjacent state of [[Haryana]]. In the mid-1970s, the company started developing its [[Cyber City, Gurgaon|DLF City]] project at [[Gurgaon]]. Its plans included hotels, [[infrastructure]] , and [[special economic zones]]-related development projects.

The company is headed by [[Kushal Pal Singh]].<ref>{{Cite web|last=Bahree|first=Megha|title=Son Of Property Baron Kushal Pal Singh Succeeds His Father As Chairman Of DLF|url=https://www.forbes.com/sites/meghabahree/2020/10/07/son-of-property-baron-kushal-pal-singh-succeeds-his-father-as-chairman-of-dlf/|access-date=2021-04-11|website=Forbes|language=en}}</ref> 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.<ref>{{Cite web|title=Kushal Pal Singh|url=https://www.forbes.com/profile/kushal-pal-singh/|access-date=24 July 2020|website=Forbes|language=en}}</ref> The company's {{USD}}2 billion [[Initial public offering|IPO]] in July 2007 was India's biggest IPO in history.<ref>[http://www.indianexpress.com/story/33122.html IndianExpress.com :: Is India’s largest IPO going to change the Sensex stakes?].</ref> In its first-quarter results for the period ending 30 June 2007, the company reported a turnover of {{INRConvert|31.2098|b}} and profit after taxes of {{INRConvert|15.1548|b}}.<ref>{{cite web|url=http://www.thehindubusinessline.com/news/states/dlf-seeks-land-allotted-to-gaming-city-in-hyderabad/article5610232.ece|title=DLF seeks land allotted to Gaming City in Hyderabad|website=thehindubusinessline.com}}</ref>

As of 31 March 2012, the company had 1,380 square feet of leased retail space across the country.<ref>{{cite news |url=https://www.reuters.com/finance/stocks/companyProfile?symbol=DLF.NS |title=DLF Ltd (DLF.NS) |publisher=Reuters |access-date=23 March 2013}}</ref> In 2013–14, it leased out 3 million sq ft of [[Office|office space]] in India.<ref>{{cite web|title=DLF leased 3 million sq ft office space in 2013-14 |url=http://news.biharprabha.com/2014/04/dlf-leaseed-3-million-sq-ft-office-space-in-2013-14/|work=IANS|publisher=news.biharprabha.com|access-date=24 April 2014}}</ref><ref>{{Cite web|date=2020-10-22|title=StanChart GBS leases 7.7 lakh sq-ft at DLF's Chennai project for office campus|url=https://www.financialexpress.com/industry/stanchart-gbs-leases-7-7-lakh-sq-ft-at-dlfs-chennai-project-for-office-campus/2111091/|access-date=2020-10-25|website=The Financial Express|language=en-US}}</ref>

In August 2011 a penalty of {{INRConvert|6.3|b}} was imposed on DLF by the [[Competition Commission of India]] (CCI)<ref>{{cite news|title=DLF hit with 6.3 billion rupees anti-competition fine|url=http://in.reuters.com/article/idINIndia-58809520110816|publisher=Reuters|access-date=23 January 2015|date=16 August 2011}}</ref> 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]].<ref>{{cite web|title=Main Order: Informants Belaire Owners Association vs DLF & Ors |url=http://www.cci.gov.in/May2011/OrderOfCommission/DLFMainOrder110811.pdf |website=Competition Commission of India |access-date=23 January 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150224021040/http://www.cci.gov.in/May2011/OrderOfCommission/DLFMainOrder110811.pdf |archive-date=24 February 2015 }}</ref> In February 2015, the CCI ordered its investigative arm to probe two more projects of DLF in [[Gurgaon]], namely, DLF Regal Gardens<ref>{{cite web|title=DLF Regal Gardens|url=https://www.dlfhomes.co.in/dlf-regal-gardens/}}</ref> and DLF Skycourt.<ref>{{cite web|title=DLF Skycourt|url=https://www.dlfhomes.co.in/dlf-skycourt/}}</ref><ref>{{cite web|title=CCI orders fresh probe against DLF|url=http://www.thehindubusinessline.com/industry-and-economy/real-estate/cci-orders-fresh-probe-against-dlf/article6878851.ece|work=The Hindu|access-date=15 February 2015}}</ref>

==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]], including [[Model Town (Delhi)|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.<ref name="The story behind DLF's success">{{cite web | url=http://www.rediff.com/money/2006/apr/20spec2.htm | title=The story behind DLF's success }}</ref>

As a result, DLF decided to move beyond Delhi and focused on the suburb of [[Gurgaon]] in [[Haryana]].<ref name="Indian Army Gurgaon">{{cite news| url=http://articles.economictimes.indiatimes.com/2014-10-15/news/55059505_1_indian-army-gurgaon-dlf | work=The Times Of India | title=DLF's KP Singh: Meet the man who built Gurgaon out of nothingness | date=15 October 2014}}</ref> which had the potential for the development of residential and commercial properties. As DLF started to acquire land under the leadership of Chairman [[Kushal Pal Singh|K.P. Singh]], Gurgaon and embarked on a period of rapid growth of [https://www.expresswayproperties.com Gurgaon Properties].<ref name="Gurgaon Millennium City">([http://www.thehindu.com/todays-paper/tp-features/tp-opportunities/gurgaonmillennium-city/article2451662.ece ])</ref>

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 then sold plots to buyers after demarcation. The [[profit (accounting)|profits]] from the sales were subsequently shared with farmers, which encouraged more farmers to come forward and partner with DLF.<ref name="Story behind K.P. Singh">{{cite web|url=http://indiatoday.intoday.in/story/whatever-the-odds-the-incredible-story-behind-dlf-by-k.p.singh/1/160593.html|title=The trials and triumphs of K.P. Singh|website=India Today}}</ref>

A {{INR}}58 crore deal was canceled between DLF and [[Robert Vadra]] by [[Indian Administrative Service|IAS]] officer [[Ashok Khemka]].<ref>{{cite web|url=http://www.ndtv.com/cheat-sheet/58-crore-deal-between-dlf-and-robert-vadra-cancelled-by-ias-officer-ashok-khemka-501911|title=58-crore deal between DLF and Robert Vadra cancelled by IAS officer Ashok Khemka|website=ndtv.com}}</ref>

==Sponsorship==
[[File:DlfibmkolkataITTechPark.jpg|thumbnail|right|DLF IBM Kolkata (Tech Park)]][[File:DLFKolkataIBM.jpg|upright|thumbnail|DLF IT Tech Park (IBM Kolkata)]]
In 2008, DLF became the [[title sponsor]] of the [[Indian Premier League]], a newly formed [[Twenty20]] [[cricket]] league. DLF paid close to {{INRConvert|2|b}} for the 5-year sponsorship deal.<ref name=forbes1>{{cite news |url=https://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Kushal-Pal-Singh_0UU7.html |title=#98 Kushal Pal Singh - The World's Billionaires 2009 |work=Forbes.com |date=13 February 2009 |access-date=21 January 2010}}</ref> The deal ended in the 2012 version of the season; wherein it was taken over by [[PepsiCo|PepsiCo Inc]].

==Beyond buildings==

[[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 from [[National Highway 8 (India, old numbering)|NH8]] Toll Plaza to Sector 55/56 in Gurgaon with six underpasses, one flyover and freeways has improved traffic management in the city.<ref name="DLF Huda Flyover">{{cite news|url=http://www.business-standard.com/article/pti-stories/haryana-cm-inaugurates-dlf-huda-flyover-115041100762_1.html|title=Haryana CM inaugurates DLF-HUDA flyover|newspaper=Business Standard India |agency=Press Trust of India|date=11 April 2015|via=Business Standard|last1=India |first1=Press Trust of }}</ref> To create this infrastructure facility, DLF had engaged [[Parsons Brinckerhoff]] for project management consultancy and construction work had been awarded to [[IL&FS]].<ref name="Jointly Building 16 lane corridor">{{cite web |url=http://www.infrawindow.com/news/dlf-huda-to-jointly-build-16-lane-corridor-in-gurgaon_2987/ |title=DLF, HUDA to jointly build 16-lane corridor in Gurgaon |website=www.infrawindow.com |url-status=dead |archive-url=https://web.archive.org/web/20120712230858/http://www.infrawindow.com/news/dlf-huda-to-jointly-build-16-lane-corridor-in-gurgaon_2987/ |archive-date=2012-07-12}}</ref>

== Constructed buildings ==
{{Panorama
| image = DLF IT Park, Ramapuram, Chennai.jpg
| height = 200
| alt =
| caption = DLF Cybercity IT SEZ at [[Chennai]]
}}

[[File:DLF Epitome Tower, DLF Phase 3, Gurugram.jpg|alt=DLF Epitome Tower, Gurugram|thumb|DLF Epitome Tower, Gurugram]]

==References==
{{Reflist}}
Appointment of CEO's<ref>{{cite web | url=https://www.moneycontrol.com/news/business/companies/dlf-appoints-ashok-kumar-t%60yagi-devinder-singh-as-chief-executive-officers-whole-time-directors-7022371.html | title=DLF appoints Ashok Kumar Tyagi, Devinder Singh as chief executive officers, whole-time directors }}</ref>

==External links==
* {{Official website}}

{{Nifty 200 companies}}

{{Authority control}}

<ref>{{cite web | url=https://www.moneycontrol.com/news/business/companies/dlf-appoints-ashok-kumar-t%60yagi-devinder-singh-as-chief-executive-officers-whole-time-directors-7022371.html | title=DLF appoints Ashok Kumar Tyagi, Devinder Singh as chief executive officers, whole-time directors }}</ref>

[[Category:Real estate companies established in 1946]]
[[Category:Companies based in New Delhi]]
[[Category:Real estate companies of India]]
[[Category:Indian companies established in 1946]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

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DLF (company)