Bengaluru: DLF Ltd, India’s most valuable real estate firm, said it will seek board approval to create charge, lien or pledge of more than 50% of the company’s shareholding in three of its units to lenders to raise as much as Rs.7,500 crore.

DLF’s annual general meeting (AGM) is scheduled on 28 August.

The slow real estate market is now driving even the largest developer DLF to offer a variation of a typical ‘’subvention scheme’’. While companies have been using the scheme as a marketing tool to attract buyers, it is for the first time that DLF is offering such a plan. It’s starting with a 20:20:60 plan for a project in Gurgaon.

Although subvention refers to the government paying a certain portion of home loan interest in affordable real estate projects, the industry is using the scheme in different ways to make it easier for the buyer in terms of structuring of payment for the house.

New Delhi, July 14 (PTI): Realty major DLF is likely to raise about Rs 2,500-3,000 crore by next month via private equity and is in talks with the Singapore government's investment arm GIC to sell stake in a new housing project here.

According to market sources, the company is in an advanced stage of talks with sovereign wealth fund GIC to sell up to a 49 per cent stake in the new residential project in the national capital. The deal is expected to close in the next one month.

New Delhi: DLF Ltd, India’s largest real estate developer, plans to cut its debt by a third by raising Rs.7,000 crore through two private equity (PE) deals and two real estate investment trusts (REITs) in the next 18 months, two people aware of the plan said.

The company expects to raise Rs.6,000 crore through REITs and Rs.1,000 crore through PE deals, according to both the people, who spoke on condition of anonymity. One of the PE deals will be with Blackstone Group LP, the world’s largest PE firm, and is expected to be finalized by September, said one of the two people. This person is directly involved in the deal negotiations.

PVR Cinemas, on Tuesday, announced the acquisition of multiplex chain DT Cinemas, a subsidiary of real estate developer DLF, on a slump-sale basis for Rs.500 crore. The move is likely to help the company cement its position as country’s largest cinema exhibition firm.

A ‘definitive agreement’ was signed post the approval by PVR’s board at a meeting held on Tuesday. PVR, in 2009, had also agreed to buy DT Cinemas but the deal fell through in February 2010.

The country’s largest property developer DLF is working on launching its first real estate investment trust (REIT) by pooling together its office properties by the end of the current financial year.

“Both financial and strategic investors have approached DLF in this regard,” the company said in a presentation. The government has recently issued clarification of minimum alternate tax (MAT), which is expected to give a boost to the launch of REITs.

Leading real estate developer DLF posted a net profit of Rs 172 crore for the quarter ended March 2015, a drop of more than 20 per cent from Rs 220 crore in the same period last year. The company's consolidated revenue declined 17 per cent to Rs 2,101 crore from Rs 2,522 crore in the fourth quarter of the financial year 2014.

For the full financial year 2014-15, the company has shown a net profit of Rs 540 crore, down 16 per cent from Rs 646 crore in the previous year. The revenue has also dipped 17 per cent to Rs 8,168 crore for FY15 from Rs 9,790 crore in FY14.

Mumbai: Ajay Bijli-owned PVR Ltd is in the last lap of negotiations to acquire multiplex chain DT Cinemas, a subsidiary of real estate developer DLF Ltd, as it seeks to cement its position as the country’s largest cinema exhibitor.

“PVR and two other cinema chains were in negotiations and now PVR is leading the race to close the deal. The deal is in the final stages,” said one of two persons familiar with the development.

DLF, country's largest real estate firm, has once again come under the scanner of Competition Commission of India (CCI). The competition watchdog has found the realty firm guilty of "unfair and abusive" business practices in one of a housing projects in Gurgaon.

CCI in its order has asked DLF Gurgaon Home Developers Private Ltd and its group companies to "cease and desist" from such unfair trade practices. It, however, did not impose any fresh penalty. A fine of Rs 630 crore has already been slapped on DLF for a similar violation in a separate case.

Shares of DLF were up nearly 3% at Rs 132 after the company said that ICRA has removed the rating frmo 'rating watch with negative implications' and reaffirmed the rating (ICRA)A on the real estae major's bank facilities and NCD programme.

ICRA has reaffirmed the long-term rating of ICRA A assigned to Rs 4,000 crore non-convertible debenture programme, Rs 8,542 crore fund-based facilities and Rs 1,160 crore non-fund based facilities of DLF Ltd, the company said in a release adding that the long term rating has been assigned a negative outlook.

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