The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Liquid Real Estate Awards 2008: Best overall developer, India

Indian property company DLF is expanding from a base of strength in a Delhi suburb to other booming cities. Returns will contract as interest rates and land prices rise but its high-quality product should keep it at the top of the heap. Elliot Wilson reports.

DLF moves out and up from Delhi base

DLF is no fly-by-night arrivé on the Indian property scene. As Delhi Land & Finance, it has been in the real estate business since 1946. It is now run by Kushal Pal Singh, estimated by Forbes magazine to be the world’s eighth-richest man. The company’s $2 billion initial public offering in July 2007 created India’s biggest real estate operation, and was at the time the largest stock sale ever completed in Mumbai. The company’s foundations are to be found in Gurgaon, a fast-growing, all-encompassing commuter belt/suburb/industrial zone to the southwest of Delhi. DLF owns 62 million square feet of land in Gurgaon, out of a total countrywide land bank of 75 million square feet.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree