Compat asks CCI to review antitrust case against DLF
Posted on 10th December 2016 |
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New Delhi/Bengaluru: The Competition Appellate Tribunal (Compat) on Friday asked the antitrust regulator to review its order declining to investigate whether DLF Universal Ltd and DLF Home Developers Ltd were in a dominant position in Delhi’s luxury residential apartments market and had abused their position to influence consumers. The Compat order is in response to an appeal by Ess Cee Securities Pvt. Ltd and Signature Securities Pvt. Ltd against an earlier decision of the Competition Commission of India (CCI) to close the case. |
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DLF said to shortlist Blackstone, GIC as buyers of 40% stake in rental arm
Posted on 15th October 2016 |
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Singapore/Mumbai: Blackstone Group LP and Singapore sovereign fund GIC Pte were shortlisted to purchase a 40% stake in the rental property arm of DLF Ltd., India’s largest listed developer, people with knowledge of the matter said. The funds were chosen to proceed in the bidding for the interest in DLF Cyber City Developers Ltd. being sold by DLF chairman K. P. Singh’s family, according to the people. |
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DLF exits cinema business, sells 7 screens to Cinepolis for Rs 64 crore
Posted on 3rd September 2016 |
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NEW DELHI: India's largest real estate firm DLF has sold its seven remaining cinema screens in Delhi—six in Saket and one in Greater Kailash 2—under its cinema exhibition business to Mexican movie theatre chain Cinepolis for Rs 63.67 crore. The company had earlier sold 32 screens to PVR for Rs 433 crore after the Competition Commission of India gave its nod to the deal. The competition watchdog had, however, asked the firm to exclude seven screens from the transaction to deal with anti-competitive concerns. |
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DLF close to 40% stake sale in rental assets arm
Posted on 31st August 2016 |
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India's largest real estate developer DLF on Tuesday said it has shortlisted bidders for the ongoing stake sale in its rental arm, DLF Cyber City Developers Ltd. The company expects to receive binding, updated bids in the form of shareholder agreement once the shortlisted bidders complete due diligence. Media reports had earlier suggested DLF had shortlisted six potential buyers for the sale of 40 per cent stake held by promoters in its rental arm. |
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DLF net profit doubles to Rs 261 cr
Posted on 30th August 2016 |
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Aided by the sale of its flagship movie theatre chain DT Cinemas to PVR for Rs 372 crore, real estate firm DLF on Monday reported a twofold jump in consolidated net profit to Rs 261 crore for the quarter ended June. According to its filings with the BSE, the net profit had stood at Rs 126 crore in the April-June quarter of the past financial year. Income from operations fell 22 per cent to Rs 1,867 crore during the first quarter of FY17 from Rs 2,389 crore in the year-ago period. |
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DLF, Blackstone restructure shareholding in five land parcels
Posted on 20th July 2016 |
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Realty major DLF on Wednesday announced restructuring of its joint venture with global investment firm Blackstone-managed Ridgewood Holdings that had invested Rs 1,481 crore in seven housing projects in 2007. In 2007, DLF had diluted 49 per cent stake in seven residential projects located in Chennai, Bengaluru, Kochi and Indore to a Merrill Lynch & Co entity Ridgewood Holdings, now managed by Blackstone. |
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SAT to hold final hearing on DLF plea in September
Posted on 13th July 2016 |
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The Securities Appellate Tribunal (SAT) will hold on September 13 the final hearing on realty major DLF's plea against the Rs 86 crore penalty imposed on it by capital market regulator Sebi. In February last year, Sebi had slapped fines totalling Rs 86 crore on DLF, its top executives, their family members and various other related entities for alleged fraudulent transactions during its initial public offer (IPO) in 2007. |
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Odisha pollution control board extends validity of consent order for DLF
Posted on 9th July 2016 |
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The Odisha State Pollution Control Board (SPCB) has extended the validity of the consent to establish order issued to DLF Ltd for a period of five years. The revised order is now valid till August 30, 2017. The order is for DLF’s Cyber City project coming up at Patia on the outskirts of Bhubaneswar. DLF is investing Rs 1,000 crore on the commercial IT real estate project where apart from an IT park and ITes (IT enabled services) establishment, business centres, hotel and retail services as well as service apartments are being developed over an area measuring 54 acres. |
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DLF shortlists 6 potential buyers for promoters’ 40 per cent stake in rental arm
Posted on 8th July 2016 |
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NEW DELHI: India's largest real estate developer DLF has shortlisted six potential buyers for 40% stake of the promoters in its rental arm DLF Cyber City Developers Limited that is expected to sell for about Rs 13,000 crore, two people aware of the development said. The company had invited expressions of interest and received 11offers over the past few weeks. |
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DLF debt-reduction exercise is easier said than done
Posted on 4th July 2016 |
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After years of talking about it, DLF might finally take some action in bringing down its accumulated pile of debt. News reports suggest that the promoters of DLF would infuse Rs 10,000 crore in the company through a preferential allotment. The promoters will be receiving this huge sum of money in lieu of sale of their stake in their rental business. Reports say promoters KP Singh and his family will be selling 40% of their stake in the rental business and use the proceeds of the fund to repay part of the loan in the parent company. |
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