Realty firm DLF Ltd’s market capitalization is down to about one-fourth of what it was when the shares debuted on BSE in July 2007.

Even starker is the 90% erosion in market cap since the shares hit an all-time high on 14 January 2008, after which the global markets went into a tailspin with the Lehman-crisis.

Bengaluru: DLF Ltd will officially launch on Wednesday Mall of India in Noida, a two million sq. ft retail and entertainment space, adding a sixth shopping mall to its portfolio of retail assets. The mall is expected to generate about Rs.250 crore of rental income annually for the realty firm.

DLF share price climbed over 3 per cent intraday on Monday after the realty firm initiated the process to sell promoters’ 40 per cent stake in its rental arm, a deal estimated at Rs 12,000-14,000 crore.

At 2.16 pm, shares of DLF were trading 1.82 per cent up at Rs 120.60. The scrip opened at Rs 119.30 and has touched a high and low of Rs 122.40 and Rs 119.30, respectively, in trade so far.

Shares of DLF, Indiabulls group firms and Apollo Tyres Monday plunged by up to 4% on reports of leaked documents naming their promoters having associations with firms in tax havens.

Shares of Apollo Tyres declined by as much as 3.01% to a low of Rs 169.15 on the BSE.

India’s largest realty firm, DLF, on Thursday sold its shopping mall at Saket in New Delhi to its wholly-owned subsidiary for Rs 904.5 crore, as part of a strategy to consolidate and monetise rental assets.

DLF said the board of directors had “approved sale of ‘DLF Place Saket’, a shopping mall, having a built-up area of 5,16,000 sq ft along with land parcel... to Nambi Buildwell Pvt Ltd, a wholly-owned subsidiary of the company on an arm’s length basis”.

Mumbai: Pushing a step closer to launching India’s first Real Estate Investment Trust (REIT), real estate firm DLF Ltd expects to complete forming a special purpose vehicle (SPV) within the next six months, said a top company executive of the Delhi-based company.

“We would be ready with the SPV in the next six months. As we announced earlier, we have signed non-disclosure agreements with 25 global investors. We should be the first one to crack it (REITs),” Rajeev Talwar, chief executive officer (CEO), DLF Ltd, told Mint over the phone.

An arbitral tribunal consisting of Justice (Retd) Ajit Prakash, Justice Rekha Sharma and Justice SN Aggrawal on February 16 ruled in favour of real estate company DLF Commercial Developers Ltd in their dispute with the New Delhi Municipal Council (NDMC) over non-payment of monthly concession fee of Rs. 1 crore for the construction of a multiplex-cum-commercial facility at Yashwant Place in Chanakyapuri.

DLF, the country's largest real estate company, is aiming to increase its office and retail supply to 36-40 million sq ft in the next two to three years. Currently, its office and retail space covers around 31 mn sq ft, of which two mn is vacant.

It plans four mn sq ft of new office space in Gurgaon and Chennai in the next two to three years. It has also started evaluating projects in Pune and Hyderabad, to add another three mn sq ft. DLF's target is to increase rental revenues from Rs 2,400 crore now to Rs 3,000 crore by the end of the next financial year.

NEW DELHI: The luxury retail arm of real estate major DLF plans to launch a new luxury property, The Chanakya, and bring in brands such as Longchamp, Hunkemoller, G Star Raw, Juicy Couture, La Perla and Chanel Beauty to its Emporio and Promenade malls this year, a top official said.

"It's a very exciting time for retail and we are excited that new brands looking to enter the country are doing it with us," said Dinaz Madhukar, senior vice president at DLF Luxury Retail.

New Delhi: Blackstone, GIC, Canada Pension Plan and Qatar Investment Authority are among the 25 global investment firms that have shown interest in buying DLF promoters' stake in its rental arm, a deal estimated at about $2 billion.

DLF, the country's largest realty firm, had in October last announced that its promoters will sell their 40% stake in the DLF Cyber City Developers (DCCDL). DLF owns the remaining 60% stake in DCCDL, which holds its bulk of office and retail complexes. The promoters will re-invest a significant part of the amount realized from the sale into DLF.

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