(), () is India's biggest real estate developer
. The DLF Group was founded by Raghuvendra Singh in 1946 and is based in New Delhi, India. DLF developed residential colonies in Delhi such as Shivaji Park (their first development), Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash, Kailash Colony, and Hauz Khas. DLF builds residential, office, and retail properties.
With the passage of Delhi Development Act in 1957, the local government assumed control of real estate development in Delhi and banned private real estate developers. As a result DLF began acquiring land at relatively low cost outside the area controlled by the Delhi Development Authority
, in the district of Gurgaon
, in the adjacent state of Haryana
. In the mid-1970s, the company started developing their DLF City project at Gurgaon. Its plans include hotels, infrastructure
and special economic zones
-related development projects.
The company is headed by Indian billionaire Kushal Pal Singh
. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2009, was the 98th richest man in the world and the world's richest property developer
. The company's US$
2 billion IPO
in July, 2007 was India's biggest IPO in history. In its first quarter results for the period ending 30 June 2007, the company reported a turnover of Rs. 3,120.98 Crore and profits after taxes of Rs. 1,515.48... Read More