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Realty major DLF’s net debt rose by Rs 1,257 crore to Rs 24,397 crore in the third quarter of the current fiscal as its cash-flows were hit due to fall in housing sales amid negative sentiment in the property market post demonetisation. DLF projected net debt to rise further as “weak sales and collections” would lead to operating shortfall of Rs 750-1,000 crore per quarter, according to an analyst presentation.

Nine of the top ten realty stocks went up by 0.72% to 6.65% on January 2, after the domestic banks have started cutting lending rates after a massive inflow of deposits post demonetisation. The BSE Realty index rose by 4.23% and closed at 1,318.38 in the first session of CY2017.

The biggest gainer from the realty index was DLF, up 6.65% at the end of Monday’s closing. A spurt in DLF’s volume has been registered on Monday, the volume increased by 2.27 times from last two weeks average of 9.39 lakh to 21.31 lakh.

NEW DELHI: Renuka Talwar, daughter of DLF Chairman KP Singh, has acquired a bungalow on Prithviraj Road for Rs 435 crore in one of the biggest deals for a property in Lutyens' Delhi, according to people with knowledge of the matter.

The seller was Kamal Taneja, managing director of real estate developer TDI Infracorp. Located on a 4,925 sq metre plot, the bungalow has a builtup area of around 1,189 square metre and was sold for Rs 8.8 lakh per sq m. Based on current circle rates, its value is around Rs 383 crore.

DLF: uncertainty continues to loom
Posted on 13th December 2016
DLF Ltd’s woes did not ease in the September quarter, in spite of tall expectations. Residential unit sales were few and far between even as commercial leasing activity remained flat.

The quarter’s net consolidated revenue at Rs2,226 crore just matched the year-ago period’s figure.

New Delhi/Bengaluru: The Competition Appellate Tribunal (Compat) on Friday asked the antitrust regulator to review its order declining to investigate whether DLF Universal Ltd and DLF Home Developers Ltd were in a dominant position in Delhi’s luxury residential apartments market and had abused their position to influence consumers.

The Compat order is in response to an appeal by Ess Cee Securities Pvt. Ltd and Signature Securities Pvt. Ltd against an earlier decision of the Competition Commission of India (CCI) to close the case.

Singapore/Mumbai: Blackstone Group LP and Singapore sovereign fund GIC Pte were shortlisted to purchase a 40% stake in the rental property arm of DLF Ltd., India’s largest listed developer, people with knowledge of the matter said.

The funds were chosen to proceed in the bidding for the interest in DLF Cyber City Developers Ltd. being sold by DLF chairman K. P. Singh’s family, according to the people.

NEW DELHI: India's largest real estate firm DLF has sold its seven remaining cinema screens in Delhi—six in Saket and one in Greater Kailash 2—under its cinema exhibition business to Mexican movie theatre chain Cinepolis for Rs 63.67 crore.

The company had earlier sold 32 screens to PVR for Rs 433 crore after the Competition Commission of India gave its nod to the deal. The competition watchdog had, however, asked the firm to exclude seven screens from the transaction to deal with anti-competitive concerns.

India's largest real estate developer DLF on Tuesday said it has shortlisted bidders for the ongoing stake sale in its rental arm, DLF Cyber City Developers Ltd. The company expects to receive binding, updated bids in the form of shareholder agreement once the shortlisted bidders complete due diligence.

Media reports had earlier suggested DLF had shortlisted six potential buyers for the sale of 40 per cent stake held by promoters in its rental arm.

DLF net profit doubles to Rs 261 cr
Posted on 30th August 2016
Aided by the sale of its flagship movie theatre chain DT Cinemas to PVR for Rs 372 crore, real estate firm DLF on Monday reported a twofold jump in consolidated net profit to Rs 261 crore for the quarter ended June.

According to its filings with the BSE, the net profit had stood at Rs 126 crore in the April-June quarter of the past financial year. Income from operations fell 22 per cent to Rs 1,867 crore during the first quarter of FY17 from Rs 2,389 crore in the year-ago period.

Realty major DLF on Wednesday announced restructuring of its joint venture with global investment firm Blackstone-managed Ridgewood Holdings that had invested Rs 1,481 crore in seven housing projects in 2007.

In 2007, DLF had diluted 49 per cent stake in seven residential projects located in Chennai, Bengaluru, Kochi and Indore to a Merrill Lynch & Co entity Ridgewood Holdings, now managed by Blackstone.

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