DLF Properties
Full Form of DLF is Delhi Land and Finance which is one of the biggest commercial real estate developer companies in India. Chaudhary Raghvendra Singh founded the DLF in 1946. The office of DLF is in New Delhi, India. DLF has over 73 years of experience in the real estate industry. By 1964, DLF had built 22 urban colonies throughout Delhi.
(Image Credits: DLF)
History & Full Form of DLF
DLF originally stood for Delhi Land and Finance, Which is the full form of DLF. The variety of DLF’s business areas has shown its commitment to creating ecosystems that adapt to India’s changing needs.
- The company built its first residential colony in 1946 in East Delhi and Krishna Nagar. It was a great success for the business and won the public’s trust.
- Following the project’s massive success, DLF has finished many projects in Delhi, including those in South Delhi, Kailash Colony, Greater Kailash, etc.
- The first serious obstacle to the company’s growth came with the passage of the Delhi Development Act in 1957. According to the Act, the government would take over all real estate development initiatives in the city. As a result, DLF decided to develop outside of Delhi.
- Therefore, they concentrated on the Haryana suburb of Gurgaon, which offered the possibility of developing residential and commercial properties.
- Under the guidance of Chairman K.P. Singh, DLF began to acquire land, which resulted in a period of significant growth for Gurgaon.
Work of Delhi Land and Finance (DLF)
DLF works on different projects, including office buildings, IT parks, SEZs (Special Economic Zones), residential flats and apartment complexes, residential towers, bridges, and towers, as well as shopping complexes and retail homes. DLF built several residential areas in Delhi, including Model Town, Rajouri Garden, Krishna Nagar, South Extension, and many more.
Milestones of the Company
- DLF opened India’s first luxury mall in 2008.
- In 2012, the company launched an 8.3 km motorway project in collaboration with the Haryana Urban Development Authority (HUDA).
- In 2017, GIC Real Estate teamed up with DLF Cyber City Developers Ltd.
- The company makes money by selling and renting out its projects. The business adopted a new business model called DLF 2.0 in 2018.
- The country’s largest retail mall (approximately 2.5 million square feet) was planned to build by DLF and GIC joint venture (JV) in 2019.
- In 2019, DLF Mall of India was the first mall in the world to receive a LEED Platinum certification from the United States Green Building Council (USGBC).
- DLF issued non-convertible debentures in 2020. Therefore, In 2020, DLF raised Rs 1,000 crore (US$ 143.08 million).
- DLF appointed Mr. Ashok Kumar Tyagi and Mr. Devinder Singh, two full-time directors, as the company’s chief executive officers (CEOs) in June 2021.
- The company’s total revenue for the first quarter of FY22 was Rs. 1,242.27 crores (US$ 166.61 million).
- The Indian Government’s Ministry of Power has awarded DLF with the NEERMAN Awards 2022.
- DFL also received a 2022 LEED Platinum Certificate. The U.S. Green Building Council bestows this honor (USGBC). Project certified as LEED Platinum is remarkable for the company because it fulfills requirements and earns credits related to carbon, energy, water, waste, transportation, materials, health, and indoor environmental quality.
- Kushal Pal Singh is currently chairman of the company. According to Forbes’ ranking of India’s 100 rich people, he was the 19th richest man in the country. According to Forbes’ list for 2022, he was the 235th billionaire. He has properties in 24 cities of 15 states.
- DLF is one of India’s largest real estate companies that trade publicly.
Final Thoughts
As we have seen, the Full Form of DLF, which is Delhi Land and Finance (DLF), is a long-term real estate company. Chaudhary Raghvendra Singh established it to gain real estate investment, development, and management experience. DLF has an excellent track record of providing good customer-focused service in India. Additionally, the business created the DLF Foundation in 2008. The DLF Foundation is the DLF Group’s implementing arm, and it works to deliver high-impact interventions in the fields of social sustainability, healthcare, and education. This business thus supports India’s social and economic advancement.
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