Following the key reforms of demonetisation, RERA and GST, coupled with enabling policy initiatives, the real estate sector is looking at new business models.
DLF will focus on selling ready-to-move-in flats worth Rs 15,000 cr over next 3-4 yrs and launch new projects for sale only after reaching advanced stage of construction.
DLF reported a nearly 42-fold rise in its consolidated net profit at Rs 4,091.27 cr for the Dec 2017 quarter, driven by deemed gain from stake sale in rental arm to GIC.
Realty major DLF's promoters have concluded the sale of 33.34 % stake in rental arm to Singapore's sovereign wealth fund GIC for nearly Rs 9,000 crore.
Realty major DLF has tied up with Uber to offer subsidised rides to and fro for customers visiting its malls in the national capital region.
DLF sold housing properties worth of about Rs 300 crore in Gurgaon in Nov when it reopened sales after five months of suspension because of new real estate law and GST.
DLF's board approved issue of debentures and warrants to promoters in lieu of Rs 11,250 cr equity infusion into the company, as part to reduce net debt significantly.
The board will also consider and approve proposal of "issuance of equity shares under QIP" and increase in authorised share capital of the company.
GIC has approached CCI seeking approval for its deal to acquire stake in DLF rental arm for Rs 8,900 cr and form joint venture.
Realty major DLF said its shareholders have approved the promoters' decision to sell their entire 40 per cent stake in the rental arm for Rs 11,900 crore.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months