Forbes has a profile of New Delhi-based real estate developers DLF Group and its Chairman, K.P. Singh.
Arun Natarajan is the Founder of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.
Today he presides over closely held DLF group, India’s largest real estate developer with an estimated land bank of 3,000 acres in prime city locations. Singh, who owns 99.5% of parent DLF Universal with his family, is worth, by our reckoning, at least $5 billion.
...Rajiv, 46, an MIT-trained engineer, and daughter Pia, 35, a Wharton B.S. who also is in the business, running the retailing side,..are aiming even higher than he did. Cashing in on India’s mall boom, DLF is planning a massive retail rollout: Over the next five years 100 malls will be built in 60 cities, including a 4-million-square-foot Mall of India, the country’s biggest, in Gurgaon
...Rajiv estimates that these expansion plans, which include building hotels, middle-income homes and special economic zones, will translate into investments of at least $10 billion. To finance their ambitions the Singhs are going beyond their bankers, talking to private equity investors and considering a future listing. They’ve retained McKinsey & Co. to advise on executing strategy and converting DLF to professional management.
Arun Natarajan is the Founder of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.