DLF

By: EconomyWatch   Date: 17 July 2010

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DLF is a leading real estate company of India. It is ranked in 1185th position in 2008 Forbes Global 2000 list. It has development projects covering an area of more than 224 million square feet and planned projects of more than 751 million square feet.
DLF is dedicated towards creating best quality products and aims to be trustworthy as far as customers are concerned. It looks to deliver its responsibilities at shortest possible time. It also promises to create its products in accordance with highest global standards.

Brief history
DLF group was incorporated in 1946. In initial years of its inception, DLF was responsible for developing some initial residential colonies like Krishna Nagar in New Delhi. Real estate activities of DLF were limited after Delhi government took control of such activities following Delhi Development Act.

Products and services
DLF offers its products and services in seven different areas – offices, hotels, homes, infrastructure, shopping malls, leisure and special economic zones. DLF has been responsible for developing a number of retail destinations and urban housing complexes in South Extension, Model Town, Greater Kailash, Hauz Khas, Rajouri Garden and Kailash Colony.

In offices section DLF has perfected walk to work concept by incorporating workplaces with latest facilities and technologies in DLF City. DLF has built three shopping malls at DLF City - DLF City Centre, Grand Mall and Mega Mall. Some other malls are in pipeline.

DLF is constructing a number of special economic zones across India. These multi-product special economic zones are supposed to incorporate facilities like residential accommodations, hospitals, commercial and retail facilities, hotels, schools and support infrastructure like captive power generation facilities for example.

DLF is also playing an important role in development of infrastructure in real estate scenario of India. DLF has built and developed a leading leisure destination India, DLF Golf and Country Club.

Financials
In 2007 sales of DLF amounted to $0.61 billion and this firm earned profits worth $0.45 billion. Assets held by DLF were worth $4.19 billion and its market value was around $33.26 billion.

Awards and recognition
DLF had attained position of leader in category of building and construction at 2nd NDTV Profit Business Leadership Awards. This ceremony was staged at New Delhi on 27th of July 2007.

Current financial crisis
DLF has been facing some crisis in recent times. On 30th of October, 2008 chairman of DLF Kushal Pal Singh had asked central government to reduce rates of taxation so that they may adjust against pressures of global financial crisis.

DLF has put plans for its proposed shopping mall, Mall of India, on back burner as retail rentals have been below expectations. It has been affected by fund crunch that has hit Indian real estate as a result of global financial crisis. It has also delayed a buyback of INR 1,100 crore as a result of liquidity crunch.



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