Amid declining sales, DLF, the country’s largest real estate company, has had mounting problems since the start of this year.

Experts say it would need to urgently take some measures, including a sale of its land parcels in South India. To reduce its debt and generate cash flow, DLF plans to raise Rs 3,000 crore through divestment or joint ventures in certain projects. It is in talks with some private-equity entities for partly cashing out in some projects before their launches in 2015-16.

The Securities and Exchange Board of India (Sebi) has imposed a total penalty of Rs 86 crore on real estate major DLF and 40 related entities, including subsidiaries and key officials. The matter relates to disclosures made at the time of its Initial Public Offer (IPO) in 2007.

The regulator imposed penalties through two separate orders. One is for a sum of Rs 52 crore on DLF and seven officials. The second order is for Rs 34 crore on Sudipti Estates Ltd and 34 other related entities.

NEW DELHI: Realty major DLF's sales bookings will cross Rs 3,000 crore this fiscal helped by better sales during this quarter in its two housing projects at Gurgaon, a senior company official said.

India's largest realty firm had earlier given the guidance that sales bookings would be in the range of Rs 3,000-3,500 crore in the current 2014-15 financial year as against Rs 4,070 crore achieved during last fiscal.

Shares of Idea Cellular and Yes Bank have gained up to 1% on the BSE after the National Stock Exchange included these stocks in its benchmark index Nifty. However, these two firms will replace DLF and Jindal Steel & Power in the 50-unit Nifty index which declined up to 1.5% on the BSE.

Mumbai: Idea Cellular Ltd and Yes Bank Ltd will replace DLF Ltd and Jindal Steel and Power Ltd in the benchmark Nifty index , according to a statement issued by India Index Services and Products Ltd, a subsidiary of the National Stock Exchange of India Ltd (NSE).

The changes made by the index maintenance sub-committee are part of its periodic review and will become effective from 27 March, it said. Apart from changes in the Nifty, revisions have been made in 21 other sectoral and theme-based indices of the exchange.

NEW DELHI: The Competition Commission has ordered a fresh probe against realty major DLF, finding the company to have prima-facie abused its dominant position, making it the second such probe ordered within two days. The new order, in which CCI has asked its investigative arm to conduct a detailed probe, relates to alleged "abuse of dominant position in development and sale of residential units in Gurgaon" for the Skycourt residential project of DLF Universal Ltd.

Fair-trade regulator Competition Commission of India (CCI) has ordered a fresh probe against real estate player DLF over alleged abuse of its dominant position in the "provisioning of services for the development and the sale of residential units in Gurgaon".

The company has been under the CCI scanner and has been penalised for the same reasons in other cases.

The Securities Appellate Tribunal (SAT) has reserved its order in DLF's appeal against the stock market regulator.

The real estate major had appealed against a Securities and Exchange Board of India (Sebi) order which barred the company and key officials from the market for three years. The ban was on account of disclosure violations related to its 2007 initial public offer (IPO).

The Securities Appellate Tribunal on Friday heard some arguments on Friday in real estate major DLF’s appeal against the heavy penalty imposed on it last year by the stock market regulator, Securities and Exchange Board of India (Sebi).The matter will next be heard on February 6.

The tribunal heard arguments by counsel for Sebi. Counsel for DLF answered queries the tribunal had previously sought clarification on, beside making its arguments against the Sebi order.

During a hearing of its appeal against a Securities and Exchange Board of India (Sebi) order banning it from the capital markets for three years, at the Securities and Appellate Tribunal (SAT), real estate major DLF on Monday said only one of the complaints Sebi had received against it was related to disclosures.

Janak Dwarkadas, senior advocate and counsel for DLF, was countering the regulator’s earlier claim that the action had been taken after receiving multiple complaints against the company. SAT adjourned hearing of the appeal to Tuesday.

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