DLF to divest entire stake in Galaxy Mercantile
DLF has signed an agreement to divest all its stake in Galaxy Mercantile Ltd, a joint venture company between DLF Home Developers Ltd and Infrastructure Development Finance Company Ltd (IDFC).
DLF has signed an agreement to divest all its stake in Galaxy Mercantile Ltd, a joint venture company between DLF Home Developers Ltd and Infrastructure Development Finance Company Ltd (IDFC).
DLF has informed the Bombay Stock Exchange that it has received the first tranche of Rs.200 crore from IDFC, which is in the process of acquiring 100% shareholding in a JV company of DLF called Galaxy Mercantile.
The Delhi High Court on Wednesday, Nov 23, reserved its order on a plea of DLF Ltd challenging an order of market regulator SEBI to probe accusations by a Delhi-based businessman that he was duped of Rs. 34 crore by the realty major.
Realty major DLF has welcomed stay order by the Competition Appellate Tribunal (COMPAT) on the Rs 630-crore penalty imposed on it by the Competition Commission of India (CCI).
DLF has reportedly added over 3,000 advisors in its insurance joint venture DLF Pramerica Life Insurance during last fiscal for the future growth of the business.
India’s top listed real estate developer DLF Ltd missed analysts’ estimates with a 19 percent fall in quarterly profit due to cost rises.
DLF Ltd will focus on plotted development in the short term in a bid to weather the blow from rising inflation and input costs.
DLF Ltd has reported a marginal drop of 4.8% in its net profit for the year ending 31 March 2011.
DLF is ramping up presence in the fashion retail industry after striking a licensing deal with Spanish brand Mango.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.