Overview of DLF

DLF has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 345 msf of planned projects with 48 msf of projects under construction.

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. From developing 22  major colonies in Delhi, DLF is now present across 15 states-24 cities in  India.

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 Premium. The product offering involves a wide range of  products including condominiums, duplexes, row houses and apartments of varying  sizes.

DLF is credited with introducing and pioneering the revolutionary  concept of developing commercial complexes in the vicinity of residential  areas. 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 272 msf of development potential  with 41 msf 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,  Hewitt, WNS, Bank of America, Cognizant, Infosys, CSC and Symantec, 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 66 msf for office and retail  development, with 7 msf of projects under construction.

DLF owns and operates the luxurious Aman Resorts across the world. DLF  has a strong management team running independent businesses, though  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.

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Statement in Response to IAC Allegations

Shri Arvind Kejriwal today held a press conference in which he once again made some allegations inter alia against DLF. Due to paucity of time, we wish to issue a short factual rebuttal in this regard. Shri Kejriwal’s allegations largely centre around issues which are already in the public domain and are well disclosed. It is unfortunate that an attempt is being made to sensationalise the same. Our brief response is as follows:

Is there a nexus between DLF and Government of Haryana?

With reference to the 30 acres of SEZ development by DLF on land purchased from East India Hotels, the order of the Hon’ble High Court of Punjab & Haryana has been stayed by the Hon’ble Supreme Court of India vide its orders dated 20th June 2011 and 26th September 2011.The matter is subjudice and is awaiting hearing.

Robert Vadra was majority shareholder in DLF SEZ Holdings Pvt. Ltd.

In the DLF SEZ Holdings Pvt. Ltd., 50% of shareholding was acquired by M/s. North India IT Parks Pvt. Ltd. in October 2008 at the face value of Rs. 2.50 Lacs. The said 50% shareholding was subsequently bought back from M/s. North India IT Parks Pvt. Ltd. in September 2009 fully at face value of Rs. 2.50 Lacs, as the proposal for developing SEZs could not take off due to deep recession in the market in year 2009. No benefit or gain was made by Mr. Vadra or DLF, in this regard. We wish to clarify that this proposal had nothing to do with SEZ being developed or developed by DLF (including the one referred above). Mr. Vadra, neither had nor has any interest in the various SEZs of DLF in any manner.
350 Acres land given to DLF

In our earlier press statement, we had confirmed that this land was allotted through an international bidding tender. This matter is subjudice before the Hon’ble High Court of Punjab & Haryana. We stand by our statement.

Increased FAR for DLF

This project was approved way back in 1995 as stated in our earlier press release. In subsequent revisions of Master Plan, no changes in FAR or density have taken place. Hence, no benefit has accrued to DLF by the said revisions in the Master Plan.

Land Acquisition cancelled in Manesar to favour DLF

DLF or any of its companies never purchased any land in the residential sectors of Manesar as referred in the statement by Shri Kejriwal. Acquisition proceedings were withdrawn by Government of Haryana on 24 August 2007, whereas DLF acquired development rights much later from other developers to develop two licensed group housing projects only on 11 April 2008. These group housing projects are under development after obtaining all due approvals.

DLF reply – a bunch of lies

We stand by our earlier statement and wish to once again specifically state that DLF has neither sought nor enjoyed any special favours from the Government of Haryana and all developments of DLF undertaken over the last four decades are strictly in compliance with all applicable laws, rules and regulations with an adherence to the highest ethical standards.