CCI orders fresh probe against DLF
Posted on 25th June 2014 |
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Fair trade regulator Competition Commission of India (CCI) has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon. Some other group entities of the real estate major have already faced probe by the CCI with regard to various other cases of anti-competitive practices. |
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DLF puts Pune IT park on the block, eyes Rs 300 cr from deal
Posted on 25th June 2014 |
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Property giant DLF, which missed its debt reduction target in 2013-14, wishes to sell more properties and land parcels it considers “non-core”, said sources in the know. As part of the plan, the company is selling its upcoming information technology park in Hinjewadi, Pune, aiming at Rs 300 crore from the sale, they said. DLF wants to use the proceeds to reduce its debt, of Rs 18,500 crore as of March-end. The two million sq ft IT park is under construction and DLF wants to sell as it is a “non-core asset”, said sources. |
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Kerala cancels DLF project clearance
Posted on 19th June 2012 |
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DLF, the country’s largest real estate entity, has put on hold the delivery of its DLF Riverside luxury project in Kochi, after the Kerala government cancelled its CRZ (coastal regulation zone) clearance, for alleged breaches. DLF did not officially comment. Sources close to the development said the company was to give possession to the buyers in a few weeks but this would now be delayed by a few months, as the company would have to re-apply for CRZ clearance. |
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DLF raises Rs 375 crore via commercial mortgage backed securities
Posted on 14th June 2014 |
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Mumbai/Bangalore: DLF Ltd, India’s largest realty developer in terms of market capitalization, has raised Rs.375 crore by issuing commercial mortgage backed securities (CMBS) against its South Delhi based luxury mall DLF Promenade Ltd. A CMBS is a form of debt product wherein the developer raises capital against a rent-yielding commercial asset for a tenure of seven- eleven years depending upon the specific tenure of each issuer. The paper carries a fixed interest rate unlike other debt instruments. |
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DLF debt-cut plans to be delayed by two years
Posted on 31st May 2014 |
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DLF plans to halve its debt would be delayed by up to two years, a statement from the realty company said on Friday. Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore through the sale of non-core assets and improved cash flows. |
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DLF shares recover after falling 4% on weak margins
Posted on 30th May 2014 |
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Mumbai: Shares in DLF Ltd rose 2% on Friday after falling as much as 4% in early trade after its January-March earnings fell short of some analysts’ estimates. The real estate developer on Thursday reported a profit in the fourth quarter, helped by a gain from the sale of its Aman Resorts luxury hotel chain. |
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