Beating the slowdown blues, Bangalore-based developers DLF and Brigade continued their growth momentum with increase in revenue an profit. DLF, on the contrary, continued to lose the market share and revenue as slow sales hit the developer leading to quarter-on-quarter slide.
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The Board of Directors of DLF Ltd has placed on record appreciation on retirement of T.C. Goyal, Managing Director of the Company, from the services of the Company. He shall cease to be the Managing Director of the Company with effect from close of business hours on 31st March, 2015 upon completion of his term, as was approved by the shareholders of the Company at the extra-ordinary general meeting held on 4th April, 2013.
Track2Realty-Agencies: India’s largest realty company DLF said on Saturday, Nov 15, it plans to launch the Real Estate Investment Trusts (REITs) next fiscal to monetise its commercial assets and is in talks with global players for partnership.
Track2Realty-Agencies: The Delhi High Court on Friday, Oct 10, dismissed DLF Home Developers Ltd’s plea questioning whether CCI had the jurisdiction to probe allegations of anti- competitive practices against it in respect of its residential projects in Gurgaon.
Track2Realty-Agencies: Noida’s upcoming mall in Sector 18, DLF’s Mall of India and four other realty projects being erected in Sector 75 have been asked to ‘stop construction’ till they get a clearance from the National Board for Wildlife, as per the reports.
Track2Realty: DLF Home Developers Ltd.(DLF 5), a part of DLF Limited has received ISO 9001:2008 certification after meeting the stringent guidelines set out by British Standard Institute (BSI), an accredited business standards company.
Track2Realty: DLF Limited recorded consolidated revenues of Rs 2,225 crore for the quarter ended September 30, 2013, a decrease of 9% from Rs 2,453 crore in Q1 FY14. EBIDTA stood at Rs 863 crore, decrease of 18% as compared to Rs 1,055 crore in the Q1FY14. Net profit stood at Rs 100 crore, a decrease of 45% compared to Rs 181 crore in Q1FY14. The non-annualized EPS for the quarter was Rs 0.56.
Track2Realty: DLF Ltd has signed definitive agreements to sell its 74% equity stake in its the Life Insurance Joint Venture – DLF Pramerica Life Insurance Company Ltd, a joint venture with Prudential International Insurance Holdings Ltd (“PIIHL”), a subsidiary of Prudential Financial, Inc USA “PFI” to Dewan Housing Finance Corporation Ltd (“DHFL”) & its group entities.
Track2Realty: The Competition Commission of India (CCI) has modified the agreement between DLF group and apartment owners in its two projects in Gurgaon for abuse of dominance, sending a strong message to realtors indulging in such practices.