Introduction

INTRODUCTION

DLF was the leading real estate player in India, and its visionary chairman, Mr.

K.P.Singh, had played a large role in this. In April 2008, he was conferred an Honorary

Degree of Doctorate in Science by the prestigious G.B. Pant University of Agriculture&

Technology, in recognition of his 'invaluable contribution in the field of Business

Administration.'Describing his vision, Mr. K. P. Singh said in his acceptance speech, 'In

my own humble way, it has been my endeavour to pioneer a movement to make Housing

and Urban Development the new Sunrise Sector of our economy.''I am acutely aware that

although my company DLF is today regarded as the largest real estate developer in the

world and has a pan-Indian presence with over 50 million square feet under construction,

India needs not one DLF, but hundreds of companies like DLF to meet the rising

aspirations of the people for better living standards, better homes and better all round

infrastructure.'

Mr. Singh further said, 'the ground reality is that due to neglect of this crucial sector in

the past, our urban infrastructure is today crumbling and our urban centers are unable to

cope with the burgeoning population. Everything is in short supply, whether you talk of

housing, power supply, roads or sanitation. This has led to the degradation of the human

condition in our cities and towns, where fifty per cent of the population are slum

dwellers, lacking even basic hygiene facilities and slum children, the citizen sof

tomorrow, are growing up in an environment where character building has no place.’

On the occasion, Dr. A. P. Sharma, Vice-Chancellor, G.B.Pant University said that Mr.K.

P. Singh has made 'historic and lasting contributions to the building of modernIndia

through his pioneering role as a real estate developer and corporate leader with a vision to

transform the urban landscape of the country'. Mr.K.P. Singh also set 'new standards in

the housing and urban development scenario' emerging as the 'driving force'

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Vision, Mission & Values

DLF Vision

To contribute significantly to building the new India and become the world’s most

valuable real estate company.

DLF Mission

To build world-class real-estate concepts across six business lines with the highest

standards of professionalism, ethics, quality and customer service

DLF Values

Sustained efforts to enhance customer value and quality

Ethical and professional service

Compliance and respect for all community, environmental and legal requirements

The Real Estate Sector in India

The real estate sector plays an important role in the overall development of the country.

Real estate involves the purchase, sale and development of land, residential and non-

residential buildings. Real estate sector activities also encompass activities in the housing

and construction sector.The size of the Indian real estate sector is estimated to be over

US$12 billion. The contribution ofthe housing sector to India's GDP is a meagre 1%

against 3-6% of developing countries. If the economy grows at the rate of 10%, the

housing sector has the capacity to grow at 14% and generate 3.2 million new jobs over

the next 10 years.In the last 3 years, the construction activity in the real estate sector has

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been buoyant, after going through a recession between 1995 and 1999. High growth in

the economy, growing contribution of the services sector, changing demographic profile

(increasing proportion of young and working population, increasing disposable incomes

and urbanisation), rising demand from the technology sector and favourable government

policies are expected to drive the demand for real estate in India.The housing boom is

expected to continue, despite a marginal firming up of the interest rate on housing loans.

.

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OVERVIEW

DLF Limited, is India's largest real estate company in terms of revenues, earnings, market

capitalisation and developable area. It has a 62-year track record of sustained growth,

customer satisfaction, and innovation. The company has approximately 238 msf of

completed development and 423 msf of planned projects, and has pan India presence

across 30 cities.

DLF's primary business is development of residential, commercial and retail properties.

The company has a unique business model with earnings arising from development and

rentals. Its exposure across businesses, segments and geographies, mitigates any down-

cycles in the market. DLF has also forayed into infrastructure, SEZ and hotel businesses.

Development Business

The development business of DLF includes Homes and Commercial Complexes

The Homes business caters to 3 segments of the residential market - Super Luxury,

Luxury and Mid-Income. The product offering involves a wide range of products

including condominiums, duplexes, row houses and apartments of varying sizes. DLF has

216 msf of developed area under homes and residential plots.

DLF is credited with introducing and pioneering the revolutionary concept of developing

commercial complexes in the vicinity of residential areas. Since its inception in 2007,

DLF has successfully launched commercial complexes and is in the process of marking

its presence across various locations in India.

The development business at present has 391 msf of development potential with 25 msf

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of projects under construction.

Annuity Business

The annuity business consists of the rental businesses of offices and retail.

With over six decades of excellence, DLF is a name synonymous with global standards,

new generation workspaces and lifestyles. It has the distinction of developing commercial

projects and IT parks that are at par with the best in the world. DLF has become a

preferred name with many IT & ITES majors and leading Indian and International

corporate giants, including GE, IBM, Microsoft, Canon, Citibank, Vertex, Hewitt,

Fidelity Investments, WNS, Bank of America, Cognizant, Infosys, CSC, Symantec and

Sapient, among others.

DLF pioneered the  retail revolution in the country and brought about a paradigm shift in

the  industry by redefining shopping, recreation and leisure experiences with the  launch

of City Centre in Gurgaon in 2000. The  Retail Malls business is a major thrust area for

DLF. Currently, DLF is  actively creating new shopping and entertainment spaces all

over the country.

The company has land resource of 92 msf for  office and retail development, with 17 msf

of projects under construction.

DLF has acquired AMAN Resorts to expand its  presence in the hotel business

internationally. It also has a JV with Hilton  hotels for the development and management

of hotels pan-India. DLF plans to  develop world-class hospitality properties under the

luxury, business, leisure  & recreational segments of the hospitality industry. It has a

development  potential of 12 msf for its hotel business.

For better implementation and execution of its  projects, DLF has created a set of

execution enablers – such as Laing O'Rourke  for construction.

DLF has a strong management team running  independent businesses, though

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complementing each other in cases of  opportunities of mixed land use. DLF's mission  is

to build a world-class real estate development company with the highest  standards of

professionalism, ethics and customer service and to thereby  contribute to and benefit

from the growth of the Indian economy.

KEY CHARACTERISTICS

The Indian real estate sector has traditionally been dominated by a number of small

regional or local players with low levels of expertise. The sector has seen limited inflow

of institutional capital and has used high net-worth individual (HNI) and other informal

sources of financing as the major source of capital, leading to low levels of transparency.

This is rapidly changing as the sector is witnessing far higher growth rates and

significantly improved quality expectations as India gets better integrated with the global

economy. Some of the key characteristics of the Indian real estate

sector are:

a) Highly fragmented market dominated by regional players - Rapid growth in the last

decade has seen the emergence of larger players that have differentiated themselves

through superior execution and branding. Further, these players are now able to capitalize

on their early mover advantage with high market share, but remain confined to local or

regional markets. While these larger players are now initiating efforts to develop a

broader geographic presence, their home markets continue to generate majority of their

profitability.

b) Local know-how critical success factor in the development phase - One of the key

reasons for emergence of local developers is the critical importance of local knowledge

and relationships in ensuring successful and timely development of real estate projects.

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Property is a state subject in India and the rules and regulations that affect, among other

things, approval processes and transaction costs vary from state to state.

c) High transaction costs -The sector has traditionally been burdened with high

transaction costs as a result of stamp duty on transfers of title to property that varies state

by state. Though efforts are being made at the state level to reduce the stamp duties, they

continue to be as high as 11 % in certain states.

d) Enhanced role of mortgage financing -Over the last five years, a significant portion of

new acquisitions, particularly in the larger cities in India, has been financed through

banks and financial institutions. This has been aided by a sharp decline in interest rates

and broad availability of financing products, due to aggressive marketing and product

development by financial institutions.

COMPANY DETAILS

Incorporated in 1946,(first developed Krishna nagar colony in Delhi)

Listed on 5th July on BSEand NSE

Approximately 423 msf of planned projects and 238 msf of developed projects

Presence across 32 cities

Total employees more than 2700.

Definitive agreement with Amanresorts,lifestyle business in 22Luxury hotels in

12 countries

Market capital INR 52212.02 crores (as on august 2010).

MANAGEMENT - DLF

Name Designation

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K P Singh Chairman / Chair

Person

T C Goyal Managing Director

KameshwarSwarup Group Exe.Director

D V Kapur Non Executive

Director

M MSabharwal Non Executive

Director

B Bhushan Non Executive

Director

Name Designation

Rajiv Singh Vice Chairman

Pia Singh Whole Time Director

G S Talwar Non Executive

Director

K N Memani Non Executive

Director

RavinderNarain Non Executive

Director

N P Singh Non Executive

Director

CHAIRMAN'S PROFILE

Dr. Kushal Pal Singh, popularly known as K. P. Singh, is the Chairman of the Board of

DLF Limited, India's largest real estate company with a pan India presence in over 30

cities across 18 States. Dr. Singh is widely recognized across the world for his path-

breaking and visionary contributions to the building of modern India through his

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pioneering role as a real estate developer and corporate leader who has transformed the

urban landscape of the country by setting new standards in the housing and urban

development scenario and creating world class infrastructure to attract unprecedented

levels of foreign and domestic investment inflows, generating new employment

opportunities and changing lifestyles.

Born on August 15, 1931, Dr. K.P. Singh pursued Aeronautical Engineering in UK, after

graduating in Science and was subsequently selected to the Indian Army by British

Officers Services Selection Board, UK and thereafter commissioned into a renowned

cavalry regiment of the Indian Army. In 1960, he joined American Universal Electric

Company and soon after its merger with DLF Universal Limited in 1979, he took over as

the Managing Director.

In the early Eighties, Dr. K. P. Singh took it upon himself to spearhead a total

transformation in the Housing and Urban Development scenario in the country.

Visualizing that only the collaborative efforts of both the public and private sectors could

achieve the goal of creating cities of the future with adequate housing and urban

infrastructure to meet the needs of future generations, he worked towards bringing to an

end the era of State monopoly and opening the doors for professional private developers

to play a major role in building onsite infrastructure for homes, offices and entertainment

and retail complexes. He was one of the pioneers of the concept of Public-Private

Partnership in the urban development sector, with the private sector involved in creating

on-site infrastructure and the public sector responsible for providing off-site

infrastructure, the funding for which was mobilized from the property-owners and paid to

the Government.

His visionary efforts were crowned with success, through the innovative Gurgaon

satellite city project, which is today the single-most important and influential urban

development model in Independent India that is being replicated elsewhere in the

country.

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Dr. Singh is also widely credited with conceptualizing a unique and innovative model for

acquisition of land from the farmers by involving the farming community as ‘Partners in

Progress’ in Housing and Urban Development. He has been a firm believer in corporate

intervention in the social sector encompassing CSR and philanthropic activities like

improvements in the living standards of construction workers, and providing basic

education and healthcare facilities in adopted villages in and around DLF townships.

Dr. K.P. Singh has pioneered a national movement for Self-Regulation and Ethics in the

Indian Housing and Real Estate Industry that has blossomed into National Real Estate

Development Council (NAREDCO) - the apex autonomous self regulatory body of

Public and Private Sectors, functioning under the patronage of the Ministry of Housing

and Urban Poverty Alleviation, Government of India, with State Real Estate

Development Councils (State-REDCOs) being established in various States of the

country.

One of Dr. K. P. Singh’s most outstanding contributions to the Indian economy has been

his historic pioneering role in creating world-class infrastructure to attract foreign direct

investment (FDI) and also to facilitate the advent of the business process outsourcing

(BPO) phenomenon.

Dr. K. P. Singh is the recipient of numerous awards and honours. The most prestigious of

which is the Padma Bhushan award, conferred to him by the Government of India on

26th January 2010. He has also been conferred honorary doctorate degree by the G. B.

Pant Agriculture University and has been honoured by several well-known universities

and educational institutions in India and abroad, including the Indian Business School,

Indian Institute of Management and Indian Institute of Technology. He is the recipient of

the Delhi Ratna Award by the Government of Delhi for his valuable contribution towards

the development of Delhi. He has been awarded with the Samman Patra Award for being

one of the top tax payers of Delhi region in fiscal 2000 by the Government of India. In

2008, Forbes magazine ranked Dr. Singh as the richest real estate baron and the eighth

richest person in the world, at a net worth of US$30 billion. NDTV, a well known media

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house, conferred him with a Special Award at the Indian of the Year Award function held

in January 2008.

LOGO –THE ETHOS

The pyramid symbol and the mission line 'Building India’ is collectively referred to as

the DLF Logo.

The company's name is represented in black capital letters. The typeface represents the

solidity of the enterprise; emphasizes accountability, responsibility as being a strong and

integral part of the Group's ethos.

The pyramid depicts nine smaller pyramids; each composes itself into a larger pyramid

all-encompassing in nature and presentation. The pyramid itself and the component

pyramids convey cohesion, interdependence, support and foundation, to a common

purpose and to achieve greater heights.

The words ’BUILDING INDIA’, is in capitals like the company’s name, and at once

conveys DLF’s mission and vision. It is an intrinsic reflection of the Group’s

commitment and its 60-year heritage.

HISTORY

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The DLF Group was founded in 1946. We developed some of the first residential

colonies in Delhi such as Krishna Nagar in East Delhi, which was completed in 1949.

Since then we have been responsible for the development of many of Delhi’s other well

known urban colonies, including South Extension, Greater Kailash, Kailash Colony and

HauzKhas.

Following the passage of the Delhi Development Act in 1957, the state assumed control

of real estate development activities in Delhi, which resulted in restrictions on private real

estate colony development. We therefore commenced acquiring land at relatively low

cost outside the area controlled by the Delhi Development Authority, particularly in the

district of Gurgaon in the adjacent state of Haryana.

This led to our first landmark real estate development project – DLF Qutab Enclave,

which has now evolved into DLF City. DLF City is spread over 3,000 acres in Gurgaon

and is an integrated township, which includes residential, commercial and retail

properties in a modern city infrastructure with schools, hospitals, hotels and shopping

malls. It also boasts of the prestigious DLF Golf and Country Club with night golfing

facilities.

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