Quoting high labour and commodity prices, Ashok Tyagi, Group CFO, DLF, says realty prices, especially in the Delhi-NCR region will not decrease. He believes the long approval cycles for most of the realty projects are also a deterrent for lower home prices.
Sales will pick up in Q3 on the back of festive season says Saurabh Chawla, senior vice president VP Finance, DLF.
According to DLF's Rajeev Talwar, the company is likely to sell over 15,000-17,000 flats in the next three years. He believes the government needs to promote housing and construction just like they did for automobile sector.
Rajeev Talwar, group executive director, DLF says that the company continues to be focused on monetizing its non-core assets in order to pare its debt.
The project is called The Park and its USP as the name would suggest is a private park. Seven acres for the residents and that is a first for Mumbai. Blue Moon, with two towers, at The Park is completely sold out.
In an interview to CNBC-TV18, Ashok Tyagi, chief financial officer, DLF says this, however, does not mean that the deal with Adrain Zecha, who is the owner and founder of the hotel chain, has fallen through.
CMD Kapil Wadhawan shared no financial details of the DLF deal, but expects it to be value accretive.
Real estate majorDLF has sold its wind assets in Tamil Nadu and Rajasthan for Rs 240 crore, the proceed of which will be used to pare debt of the company.
Over a period of three years, DLF plans to sale 25-30 million sq ft of projects and generate EBITDA of more than Rs 7700 crore.
CCI chairman Ashok Chawla discusses, on CNBC-TV18, some of the key decisions taken by the watchdog and adds that the commission has decided to establish a system to ensure a transparent set of guidelines and penalties.
Ashok Tyagi, CFO of DLF said they have seen good response to the new launch, Sky Court in new Gurgaon. In the next few months, the realty player is looking to launch 5 to 6 million square feet of projects in the golf course region.
Saurabh Chawla, Executive Director of DLF informed the sale however, would not involve their flagship New Delhi hotel. He also clarified that the money incurred from the deal would be largely utilised to trim its debts.
Ashok Tyagi, CFO, DLF explains to CNBC-TV18 that the completion of the sale of land to Lodha Developers will significantly reduce the debt in the books of the company.
Emboldened by the government reform measures, country's largest developer, DLF sees an improvement in business in 2013-14. According to Rajeev Talwar, group executive director of the company, the number of enquiries by customers has increased on the back of policy actions.
Ashok Tyagi, chief financial officer of DLF says, we should be able to reduce our debt by an anticipated level of about Rs 5,000 crore in FY13.
The much speculated sale of DLF's Mumbai textile mill has concluded with the realty major raking in a whopping Rs 2,727 crore for the plot. While DLF's investors might heave a sigh of relief, Lodha Developers will have to increase its debt by Rs 1500 crore to fund this deal.
In an interview to CNBC-TV18, Abhisheck Lodha, Promoter & MD of the company said it has closed the DLF transaction at an attractive valuation. Lodha Developers bought prime land in Mumbai for about Rs 2,727 crore from realty major DLF.
Rahul Singh, counsel, Trilegal explains to CNBC-TV18 that the imposition of the penalty on the cement companies guilty of cartelisation by the Competition Commission marks a watershed in the history of regulatory bodies established to check monopolies and unfair trade practices.
Sriram Khattar, senior executive director of DLF says that the purpose behind introducing the escalation charge was to ensure that the customer pays to the extent of inflation.
DLF has not done anything wrong knowingly, says chairman Kushal Pal Singh. However, he admitted that inadvertently mistakes can happen.
Poor macro economic environment has taken a toll on the realty sector with volumes staying really low. Despite this, Rajiv Singh, vice chairman, DLF doesn't see realty prices coming down.
Rajeev Talwar, group executive director of DLF, in an interview with CNBC-TV18's Mitali Mukherjee and Sonia Shenoy, spoke about the latest happenings in the company and the road ahead.
The Competition Commission of India (CCI) ordered a penalty of Rs 630-crore to DLF. In an interview to CNBC-TV18, Suhail Nathani, partner of Economic Laws Practice (ELP) shares his view on whether this judgement be passed in the court of law n what will be the implications on other real estate developers.
Days after Competition Commission of India (CCI) struck a blow of Rs 630-crore penalty on real estate major DLF, rival company HDIL stands by the industry, specifying that everything is in black and white.
With no clarity on policy and an impending slowdown in growth, what does the corporate sector look like? Adi Godrej, tycoon and chairman of Godrej Industries joins CNBC-TV18 to provide reprieve to the flared nerves.