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DLF plans to launch QIP of shares by April; raise Rs 45-50 billion
Posted on 29th January 2018
DLF, the country’s largest developer by market value, is looking to launch its qualified institutional placement (QIP) of shares by April this year, a source said.

DLF has already received approval from shareholders to sell 173-million equity shares, which will be determined by the formula laid down by the market regulator Securities and Exchange Board of India.

DLF aims to make development arm zero net-debt company
Posted on 24th January 2018
After the conclusion of the promoter's stake sale in its rental arm to Singapore sovereign wealth fund GIC, realty major DLF is looking to make its development arm a zero net-debt company by March 2019, repaying the entire liability of 13,000 crore.

The company has already repaid debt worth 3,000 crore on December 29 from about 9,000 crore received from promoters following their 33.34% stake sale in rental arm DLF Cyber City Developers Ltd (DCCDL).

Supreme Court upholds order against demolition of DLF’s housing project in Kochi
Posted on 10th January 2018
New Delhi: The Supreme Court on Wednesday upheld an order of the Kerala high court allowing real estate company DLF to regularize an illegal structure built along the banks of eco-sensitive Chilavannur backwaters, near Kochi.

DLF’s project costing over Rs300 crore comprises 180-odd luxury flats.

DLF appoints Saurabh Chawla as group CFO
Posted on 30th December 2017
Real estate major DLF Ltd announced the appointment of Saurabh Chawla as the Key Managerial Personnel (KMP) and Group Chief Financial Officer (CFO).

The appointment follows the elevation of former Group CFO Ashok Kumar Tyagi as the whole-time director of the company.

DLF appoints Saurabh Chawla as group chief financial officer
Posted on 29th December 2017
NEW DELHI: Realty major DLF today appointed Saurabh Chawla as group chief financial officer (CFO).

Chawla, age 53 years, joined DLF in April 2006.

"...upon elevation of the group CFO Ashok Kumar Tyagi as whole-time director of the company, the board of directors... has appointed Saurabh Chawla as Group CFO of the company," DLF said in a regulatory filing.

Shareholders clear DLF debt recast
Posted on 28th December 2017
Mumbai: The attempts by realty major DLF to bring down its debt received a boost on Wednesday with its shareholders approving an issue of debentures and warrants to promoters in lieu of a Rs 11,250-crore equity infusion into the company.

This comes a day after the promoters concluded the sale of a 33.34 per cent stake in its rental arm to Singapore's GIC for Rs 9,000 crore.

GIC acquires 33.34% stake in DLF rental arm for nearly Rs 9,000 crore
Posted on 27th December 2017
Realty major DLF on Wednesday announced that its promoters have concluded the sale of 33.34 per cent stake in its rental arm to sovereign wealth fund GIC for nearly Rs 9,000 crore.

In late August, the promoters had sold the entire 40 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 11,900 crore and proposed to invest proceeds into DLF.

DLF’s new business model may cheer home buyers but at premium pricing
Posted on 4th December 2017
DLF Ltd, India’s largest real estate developer, may bring cheer on home buyers’ faces with a new business model, which is to move from launch-driven company to selling down old inventory, even as it will Rs 11,000 crore from promoters to repay debt. “Our business model is changing with this capital infusion. We are not going to be a launch-driven company. We have on our books almost Rs 15,000 crore plus of completed inventory. The next few years our intention is to actually sell down that inventory,” Saurabh Chawla, Senior ED Finance, DLF told ET Now.

DLF calls board meeting on Dec 1 to approve QIP, warrants issue
Posted on 29th November 2017
India's largest realty firm DLF has called a board meeting on December 1 to approve its proposals to issue equity shares to institutional investors and warrants or debentures to promoters.

DLF is required to launch QIP (qualified institutional placement) and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.

DLF gets green nod for Rs 240 crore commercial project in Goa
Posted on 12th September 2017
India’s largest realty firm DLF has received the environment clearance for its Rs 240 crore commercial project which is to come up in Patto village, Goa. The proposed commercial complex, to be constructed on a 18,120 square meter plot, would have eight small screen multiplexes for small gatherings and it will be the first of its kind in Goa. The DLF’s proposal was first vetted by a green panel and based on its recommendations the Union Environment Ministry has given the final green clearance, said the EC letter issue to the company.

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