Frustrated real estate buyers by DLF Builder

DLF gets shareholder nod for promoters Rs 12,000 crore stake sale

This deal, the biggest in the country's realty space, included sale of 33.34 per cent stake in DLF Cyber City Developers Ltd (DCCDL) to Singapore's sovereign wealth fund GIC for Rs 8,900 crore and a buyback of the remaining shares worth Rs 3,000 crore by DCCDL.

In a filing to the BSE, DLF said a special resolution to approve this transaction was passed at the company's AGM held yesterday. As many as 99.96 per cent of shareholders voted in favour. The promoters, who hold 75 per cent stake in DLF, did not vote on this resolution.

From DLF, Prestige Estates to Shobha, realty majors set to report poor Q2 numbers

Cost overruns and festive discount offers are expected to erode the profitability of real estate firms in the upcoming quarterly earnings, according to market analysts. Realty majors such as DLF, Prestige Estates and Sobha are expected to report a drop in profitability by as much as 30% compared to the preceding quarter.

Companies are having to rely heavily on discount or some form of ease-of-payment schemes to generate any interest in their projects. Additionally, companies, including DLF and Prestige, are liable to pay a high interest cost, which is aggravating the crisis.

Read more information about DLF Project :

• KCZMA files another affidavit in SC against DLF's Kochi project
• Expect DLF to get mostly debt-free over next 12 months
• GIC buys 12.01 lakh DLF shares from open market, stake tops 5%
• DLF also cheat all buyers
• DLF flat buyers awaiting occupancy
• DLF’s annual rental income to rise 12 pct at Rs 2,900 crore in FY18

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