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New Developments

DLF and Laing O’Rourke Sstrategic Alliance
DLF Universal Limited (DLF), India’s foremost real estate developer and Laing O’Rourke (LOR), the leading UK based $ 5 billion infrastructure major have entered into a Joint Venture (JV) to form DLF Laing O’Rourke.

DLF Laing O’Rourke, a 50:50 partnership between DLF and Laing O’Rourke will have a workforce comprising of the best of professionals from India and overseas making it one of the world’s leading construction team. The JV besides undertaking execution of a large number of DLF’s mega projects across the country as well as others will significantly capitalize with an initial investment of close to Rs.500 crore, to be aggressively enhanced over several months. This will help the JV to be the country’s leading construction company with project volumes in the range of Rs.5000 crore over the next few years.

DLF reviews IPO Plan
DLF group may file its Draft Red Herring Prospectus with the Securities and Exchange Board of India by the end of October or early November, 2006; as it awaits the report from Ministry of Company Affairs on the issue of minority shareholders, company sources said.

After failing in its earlier attempt to tap the capital market with the largest ever public issue in Indian history, which could have made DLF promoter KP Singh India's richest man, the real estate major quotes the ‘minority shareholder issue was one of the major reason behind the collapse of the much-hyped IPO’. Its attempt to enter the capital market ran into rough weather after a group of minority shareholders complained of discrepancies in the share of convertible bonds by the company.

The IPO which was hyped as the country's biggest ever public issue with total proceeds from the sale of shares in the offer being hooked at as high as over Rs 15,000 crore in the market circles, had been withdrawn by the company as its DRHP with the market regulator SEBI late in August this year after failing to get the required clearance from the regulatory authorities.
DLF Plots, Sector 92
DLF Valley Panchkula
DLF Kings Court Delhi
DLF Queens Court Delhi

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