DLF Cyber City Developers Ltd (DCCDL), the joint venture between DLF and Singapore sovereign fund GIC, has 33 million sq ft of office and retail properties generating an annual rental income of Rs 3,500 crore.
Covid-19 pandemic hit the real estate sector hard; realtors in the list register average wealth decline of 10 percent. However, the real estate sector still added six individuals in a total tally of 33 in the IIFL Wealth Hurun India Rich List 2020.
If Nifty sustains above the 11500 level it is expected to test its level of 11800 by the expiry next week. The key level to be respected is 11300-11350.
The apex court noted that it cannot be oblivious to the one-sided nature of the Apartment Buyers Agreements which are drafted by and to protect the interest of the developers.
India's residential real estate sector is seeing a decisive return of serious enquiries, which are now at 50 per cent of pre-COVID-19 levels in the top cities.
Spread across 11.76 acres the project is scheduled to be completed in 2023-24
While real estate prices have corrected, there are positive trends on demand and enquiries and a recovery should be visible in a few quarters, says Vivek Anand
HDFC Securities is bullish on DLF has recommended buy rating on the stock with a target price of Rs 219 in its research report dated August 07, 2020.
Morgan Stanley has maintained overweight rating with target at Rs 211.
The company's total income fell to Rs 646.98 crore in the first quarter this fiscal, from Rs 1,540.95 crore in the corresponding period a year ago, DLF said in a regulatory filing.
HDFC Securities is bullish on DLF has recommended buy rating on the stock with a target price of Rs 219 in its research report dated June 07, 2020.
The company said the COVID-19 crisis has presented an opportunity for it to undertake exercises in being leaner and far more efficient in terms of its cost structure.
"The economic upheavals which are bound to unfold after the recovery from the COVID-19 episode are unimaginable at this stage. However, one thing is certain that eventually recovery will happen. When? God only knows," he said.
As per the presentation, DLF faced cancellation worth nearly Rs 800 crore across various projects in DLF-phase 5 in Gurugram, Haryana. Most cancellations were in its ultra luxury project Camellias.
The management said the novel coronavirus pandemic had led to an industry-wide short-term recalibration of demand and expects some semblance of normalcy to return by the December quarter.
'The whole idea was, when you plan, plan not for one decade but for centuries. Big roads, big drainage, everything connected with the main highway,' Singh said.
KP SIngh to continue in a non-executive role as Chairman Emeritus.
For the entire last fiscal year, DLF reported a net loss of Rs 583.19 crore as against a net profit of Rs 1,319.22 crore in FY19. It expects some semblance of normalcy to return by the December quarter
Though the BSE realty index has fallen 47% in three months, Jefferies says only the strong will survive and make gains.
The company has allotted 10,000 senior, secured, rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh each at par, according to a regulatory filing.
The NCDs will be issued in one or more tranches to certain eligible investors permitted to invest in the NCDs under applicable laws.