DLF has reportedly sealed Mumbai’s NTC Mill land deal with the Lodha group on Thursday, Aug 9. According to sources close to development the top management of the Lodha Group are in Delhi for signing of the memorandum of understanding with DLF.
DLF has plans to roll out new residential projects at Ludhiana, Jalandhar, Panipat and Kasauli as part of company’s strategy to strengthen its presence outside Gurgaon.
Reacting to the Veritas recommendation of a ‘blanket’ sell on Indiabulls stocks, the company has reacted sharply blaming Veritas report to be factually incorrect. The group responded to the report by saying it will initiate ‘appropriate criminal proceedings on the authors of the research report for publishing false and factually incorrect data.’
DLF on Tuesday, Aug 7, said it expects to close sale of three non-core assets, which will help pare its debt by about 5,000 crore, by the end of the current fiscal.
Shares in DLF, India’s biggest real estate developer, traded higher in-line with the broader BSE realty index Tuesday, Aug 7, morning. At 11 a.m., the stock traded 1.3 per cent higher at Rs 214 on the BSE. The shares, up 15.4 per cent this year, are lagging a near-21 percent gain in the real estate index.
Runwal Group, has reportedly purchased Neosym Industry Ltd, a metal manufacturing company located on LBS Marg in Bhandup owned by Kolkata industrialist C K Birla’s family.
Need for a revolution that will see the poor get access to housing is more eminent than ever before, and that, in such a revolution lies a great business potential for the realty sector. This was one of the strong messages that emerged from the South India Real Estate Conference, 2012, inaugurated in Bangalore on Friday, July 3.
DLF is in advanced stages of negotiation with Lodha Developers to sell its prime land in Mumbai for about Rs 2,700 crore and a deal is expected to be finalised shortly.
Emaar Properties has reported a 44.35% jump in net operating profit of $332 million for the first six months of this year. The company had posted an operating profit of $230 million in the January-June period of last fiscal. However, total income for the first six months of 2012 remained flat at $1.068 billion, Emaar Properties said in a statement.
The UT District Consumer Disputes Redressal Forum has penalized Emaar MGF Land Limited Sector 17, for ‘gross deficiency in services’ and ‘unfair trade practice’.