DLF - The Big Daddy of Real Estate
Printed From: The Equity Desk
Category: Investment Ideas - Creating winning portfolios!
Forum Name: Large Cap Blue Chips
Forum Discription: You would not need to read any note, brokerage reports or wait for FII recommendation to buy these stocks. These are solid companies with established business & are akin to family silver.
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=1062
Printed Date: 16/Apr/2025 at 9:42pm
Topic: DLF - The Big Daddy of Real Estate
Posted By: smartcat
Subject: DLF - The Big Daddy of Real Estate
Date Posted: 09/Jul/2007 at 6:20pm
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Gist of report by Motilal Oswal on DLF - Y/E MARCH 2007 2008E 2009E 2010E Sales (Rs. b) 39 113 123 142 NP (Rs b) 19 60 71 80 EPS (Rs) 12.7 35.0 41.8 47.0 P/E (x) 44.9 16.3 13.7 12.1 RoCE (%) 30.0 43.4 45.3 46.7 - Has a landbank of 13,000 acres and total developable area of 610 m sq ft. 42% is in Delhi NCR region. Added 2800 acres for an acquisition price of Rs. 250 per sq ft since filing its Red Herring prospectus. - Expected rental income to increase from Rs. 600 crores in FY08 to Rs. 4,300 crores by FY12 - DLF to enter life insurance business with Prudential of USA (this is different from Prudential of UK, with whom ICICI Bank has a tie up). - Will have a marketshare of 16% in commercial real estate development by FY10 |
Replies:
Posted By: basant
Date Posted: 09/Jul/2007 at 11:01pm
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This is nonsense!!! Real estate stocks are never evaluated on the basis of PE and EPS what if DLF sells all its property this year where will the EPS come in the next year? SOmeone should tell them that a company that sells its assets(land) each year should be evaluated on the basis of assets to market cap rather then any other traditional valuation matrix.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: s_praharaj
Date Posted: 09/Jul/2007 at 12:10pm
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Moreover the Land Bank is simple bullsh*t.
There is no clear valuation to the Land bank, that DLF is boasting of.
I admit they are a quality construction company and have a good name, but I feel risky with such valuations. ------------- Shashi Praharaj |
Posted By: smartcat
Date Posted: 09/Jul/2007 at 12:28pm
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Unfortunately, future estimated value of land (assets) can only be made by real estate consultancy firms like Knight Frank or Cushman & Wakefield. And that too, only if they have access to exact locations of the land owned/part-owned by DLF. It would be almost impossible for brokerages to come up with these numbers. This brokerage probably had a discussion with management about the assets that will be sold, approximate development of properties in sq ft for each year and then assigned value per sq ft developed (by assuming a very conservative increase in value each year). Quoting from the report -
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Posted By: xbox
Date Posted: 09/Jul/2007 at 5:29am
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Despite all criticism, DLF has listed quite well (most people thought of below issue price listing etc. etc.). Guy who applied to IPO made more money in DLF than Vishal Retail.
No doubt mcap is huge but when there are takers, there is no problem.
<<On different note, country;s major real-estate companies have started from same city, Gurgaon. Be it Unitech, Vipul, IBREL or DLF. If we cover NCR region, we can name few more like..eldeco, omex, parsvanath.
Sometimes, I fail to understand what it so unique about Gurgaon, which is absent everywhere else ? Somebody said Bangalore of IT....  >>------------- Don't bet on pig after all bull & bear in circle. |
Posted By: CHINKI
Date Posted: 09/Jul/2007 at 10:26am
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Vipulji, Sobha Developers are from Bangalore.
Recently lot of PE investments have been happening in the real estate. Some of the beneficiaries are Prestige Constructions, Nitesh Estates, Divyasree, Mantri Developers and so on are all from Bangalore. Purvankara's IPO is expected to hit the market any time from now. Incidentally they are also from Bangalore. Builders from Bangalore have already created niche and name in the market. They are expanding in a big way in other Southern States. Without hurting anybody's sentiments, People from North make lot of noises but do less work. It is just the other way around. Imagine what Narayan Murthy would have done if he were to be from North India?? First thing for sure, he would have been in politics. ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: vip1
Date Posted: 09/Jul/2007 at 10:35am
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Without hurting anybody's sentiments, People from North make lot of noises but do less work. It is just the other way around.
PLEASE, DO NOT PUT YOUR PERSONAL PREJUDICES ON THE FORUM !
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Posted By: xbox
Date Posted: 09/Jul/2007 at 10:39am
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Without hurting anybody's sentiments, People from North make lot of noises but do less work. It is just the other way around.
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Chinki jee...I don't know what promoted you for such a loose talk. Very very disappointed with it. Poor comprehension!!!!.  ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: CHINKI
Date Posted: 10/Jul/2007 at 10:17am
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Dear Vipul and Vip1,
It is purely on my personal and working experience I had over 15 years working at different places with different people plus doing my Engineering at Regional Engineering College where you study with students from different states. It is not to hurt anybody's sentiments as I had mentioned in my earlier post. I don't believe in any religion, class, place, or whatsoever. Basanthji, if you think it is against the forum conduct, please remove it. ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: CHINKI
Date Posted: 11/Jul/2007 at 6:23pm
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DLF to bag $10-20 bn B'lore township
NEW DELHI: Real estate giant DLF is set to bag a township project in Bangalore spread over 9,000 acres that could entail an investment of about $10-20 billion. DLF has emerged as the sole bidder for the project, which is to be developed on the outskirts of Bangalore, industry sources said. When contacted, a DLF official refused to comment as the bidding process has not been completed. The township would be about three times of Gurgaon city, being developed by the DLF. The project would have housing complex, malls, commercial space, schools, clubs, hospitals and hotels among other facilities. After floating the India's largest IPO of over Rs 9,000 crore, this is the second big project where the company has emerged as the sole bidder. Earlier, DLF was the only bidder for a convention centre project spread over 35 acre in Delhi to be developed at a cost of Rs 3,000 crore. DLF has a land bank of about 11,000 acre and has presence in all verticals of real estate. The company has also forayed into hotel, insurance and infrastructure business. ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: CHINKI
Date Posted: 12/Jul/2007 at 10:04pm
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DLF likely to invest Rs 1,250 cr on DT Cinema expansion
Multiplex business offers big opportunity as there is a shortage of 40,000 screens, but added that it’s a “ and takes time to expand New Delhi: Real estate behemoth DLF is likely to invest about Rs 1,250 crore on expanding its multiplex business, DT Cinema, by adding about 500 screens in the next four to five years. “Currently, we are at a pre-operative stage with about seven screens. In another four to five years time the target is to have 500 screens across India,” DT Cinema CEO Kajal Aijaz told PTI. By September this year, two DT Cinema complexes in Delhi and one in Chandigarh would be operational, she said, adding that 35 screens are expected to be functional in the next seven months. “Once these initial projects start, the mid-term aim is to have about 150 screens operational within two years,” Aijaz said, adding that all the multiplexes would be owned by DLF. Asked about the proposed investment for the expansion, she declined to give an exact figure but said: “On an average, setting up a screen can costs anything between Rs 2 crore to Rs 2.5 crore”. Apart from north Indian cities, DT Cinema plans to set up multiplexes in Hyderabad, Chennai, Kochi, Bangalore, Mumbai, Pune, Ahmedabad, Goa and Kolkata. The size of each multiplex could be between 35,000 sq ft to 90,000 sq ft, she said. Aijaz said multiplex business offered a big opportunity as there is a shortage of 40,000 screens in India, but added that it’s a “slow moving business” and takes time to expand. Source : %20 - http://www.livemint.com/2007/07/12182532/DLF-likely-to-invest-Rs-1250.html ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: deveshkayal
Date Posted: 12/Jul/2007 at 11:14pm
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I loved what Marc Faber said on CNBC, "Initially,promoters have the vision,investors have the money. Later,promters have the money,investors have the vision"
 We should not forget that other than land bank, DLF has ventured into Insurance,now Multiplex,etc,etc...so downside can be capped by these ventures.. ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: smartcat
Date Posted: 12/Jul/2007 at 11:30pm
http://www.moneycontrol.com/india/news/stocks-views/remain-investeddlf-says-tulsian/291746 - Does this statement from Mr. Tulsian make any sense ?
The language seems to be a mix of French and Bhojpuri. Can somebody translate it into English for me please? |
Posted By: basant
Date Posted: 12/Jul/2007 at 11:31pm
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Insurance and multiplex cannot sustain a 100,000 crore mkt cap if real estate goes wrong. Once you look at leaders in this sector you would know that these businesses can make only so much impact to an elephant!!! ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: reetesh
Date Posted: 12/Jul/2007 at 11:42pm
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SmartCat: I would advice you to learn French/Bhojpuri or else stop watching CNBC, for our sake else every evening you need a translater. ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: kulman
Date Posted: 12/Jul/2007 at 11:51pm
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http://www.moneycontrol.com/india/news/stocks-views/remain-investeddlf-says-tulsian/291746 - Does this statement from Mr. Tulsian make any sense ?
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As someone had commented: The only outstanding feature of his analysis are his ears.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: smartcat
Date Posted: 12/Jul/2007 at 12:01pm
 those ears..But no Kulman ji, most of the time, Tulsian gives fairly logical advice in his moneycontrol chat. I am beginning to like the above DLF quote because it is the longest statement ever made on Moneycontrol, with optimum usage of commas & and's. Mark my words - this quote will be as popular as some of the Warren Buffet quotes. |
Posted By: kulman
Date Posted: 12/Jul/2007 at 12:26pm
 Yes, you are right.
By the way, Shashi jee had made an interesting analysis of SPT's analysis http://www.theequitydesk.com/forum/forum_posts.asp?TID=213&KW=tulsiyan&PID=20597#20597 - here on TED.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: vishal.sahay
Date Posted: 13/Jul/2007 at 11:53am
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DLF set to bag MCD project 13 Jul, 2007, 2215 hrs IST, PTI MCD had invited expressions of interest from developers for taking on 30-year lease about four lakh square feet of office space along with auditorium and food court. "DLF and Parsvnath were the two bidders for our civic centre project near He said 50 per cent of the area under the civic centre would be occupied by the winner of the contract. Market sources said that DLF has emerged as the highest bidder with the bid of Rs 398 crore while Parsvnath came second with Rs 326 crore. When contacted, DLF official declined to comment as the bidding process was not completed. The development of the civic centre was being undertaken by the MCD itself, the sources added. Apart from the upfront payment, the winner would have to make an yearly payment of 2.5 per cent of the bid amount as rental, they said. After the successful IPO of over Rs 9,000 crore, DLF has already emerged as a sole bidder for two projects in While the Dwarka project is for developing convention centre, that in Source: http://economictimes.indiatimes.com/articleshow/2202211.cms - http://economictimes.indiatimes.com/articleshow/2202211.cms ------------- Vishal |
Posted By: deveshkayal
Date Posted: 15/Jul/2007 at 10:47am
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DLF IPO: The Untold Story (TOI)
All’s well that ends well. The cliche holds true for what is now India’s biggest real estate company DLF, which listed on the bourses last week. Soon after listing, the company became the eighth most valuable in the coutry and its promoters, K P Singh and family are now the fourth wealthiest Indians behind the Ambani brothers and Sunil Mittal. But people who followed the issue carefully know it was one of the most tumultuous IPOs in recent times. Right from the time the issue was conceived in the first quarter of 2006, it was plagued by controversy. There was intense speculation that a company with significant interests in real estate did not want DLF to get big money from the stock markets. An executive from the rival’s camp reportedly told close associates, “The DLF issue in its current form will happen over my dead body.’’ Call it coincidence if you will. But soon after DLF filed its draft red herring prospectus (DRHP), reports that the company had short changed its shareholders on an earlier rights issue of debentures in November 2005 surfaced. A public interest litigation was filed and the company received over 500 complaints from shareholders. The company eventually allotted 1.9 million shares with retrospective effect. Around the same time, real estate stocks started to crash on the markets. Of course, valuations of companies like Unitech and Ansal Housing had run up rather quickly. But this crash shaved off nearly a third of their stock prices. Suddenly, DLF started to look expensive and its merchant bankers began to get to feel jittery. They advised against going to the market with an IPO. Even as all of this was happening, Sebi issued a new directive. It said that real estate companies could get land banks valued, only if a clear title deed existed. The move, on Sebi’s part, was a well thought and fair plan to rein in errant real estate companies milking the primary markets. For DLF though, the order took the wind out of its sails. Sources said this directive shaved off Rs 100-150 from the proposed issue price. The reason being that when DLF’s public issue was first mooted, analysts rated the company highly for the land bank it held. This land bank though, was held using smaller companies under different names as a front. This was because DLF reckoned that smaller companies could negotiate a better price for land than what DLF could. They had realised that often sellers quoted higher than market prices if DLF was the buyer. Even as this drama was unfolding, a cabinet minister intervened on DLF’s part and warned the rival camp that some of the permissions it was seeking from his ministry would be delayed inordinately if they didn’t back off. They did and the issue went through. But like the rival had sworn, not in the form it was originally planned in. Though company sources would never confirm, DLF had plans to issue shares in the region of Rs 900-1,100, when it first filed DRHP. It eventually issued stock at Rs 525 and reduced the shares on offer. ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: smartcat
Date Posted: 16/Jul/2007 at 12:10pm
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Those bullish on DLF would read this article as - 'The fair value of DLF is Rs. 1,000 then'. Those bearish on DLF would read this article as - 'DLF management are a bunch of crooks, always planning to loot poor investors'. I belong to the former camp. The management offering lower number of shares than originally planned is a good sign. Who is the 'rival camp'? |
Posted By: PKB2000
Date Posted: 16/Jul/2007 at 9:16pm
Mitti se bani yeh Kahani, Miitti ka kya mol lagaoge Smartcat Ji! Yhe PRICELESS! ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: smartcat
Date Posted: 18/Jul/2007 at 3:49pm
On CNBC, there was a small item that DLF might show a net profit of Rs. 2,000 crores for Q1 and revenues of something like Rs. 4,000 crores (don't remember the exact numbers). But as you said, looking at these numbers and evaluating DLF on P/E basis doesn't make sense since they are asset heavy companies But is it a good idea to REMOVE the revenues/profits generated by sale of assets and then evaluate real estate companies based on traditional parameters like P/E and EPS? |
Posted By: basant
Date Posted: 18/Jul/2007 at 3:57pm
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But is it a good idea to REMOVE the revenues/profits generated by sale of assets and then evaluate real estate companies based on traditional parameters like P/E and EPS?
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It is a tough one. Evaluating something on an EPS basis assumes that the profits would keep coming in for the PE number of years for an investor to recover his money back. Now in this case the assets are gone so the PE hides more then it reveals because generally PE reflects the number of years it would take for an investor to get back his money if the earning per share were constant.
FOr realestate Land bank to mkt cap or NAV is the best method anything away from this is incorrect. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: smartcat
Date Posted: 18/Jul/2007 at 4:16pm
The assumption is that revenues accrued via land sale would go into purchasing new land at a cheaper rate. Something akin to treasury operations of ICICI Bank or Reliance Capital - buying stocks at lower rates and selling at higher rates. It will be wasteful only if DLF sits on cash or gives the money away as dividends. If I have to depend on NAV model, I will have to depend only brokerage reports, which I don't want to. My other plan is to read up on some of the reports created by real estate consultancy firms on land appreciation rates in areas like Gurgaon. If DLF has a NAV of Rs. 600 in July 2007, and if land prices have appreciated by 30% in one year, then buy DLF if the stock price is below Rs. 780. Does it sound logical enough? |
Posted By: basant
Date Posted: 18/Jul/2007 at 4:42pm
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If DLF has a NAV of Rs. 600 in July 2007, and if land prices have appreciated by 30% in one year, then buy DLF if the stock price is below Rs. 780. Does it sound logical enough? __________________________________________________________ Absolutely, But the problem is that appreciation in land prices will always be below the returns that businesses can generate. That is because people pay EMI etc from the cash that they generate by working for business. If land prices rise faster then busineses will theoratically all bsuinesses should be closed and money invested in buying land. - Just a perspective! ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 18/Jul/2007 at 5:17pm
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DLF has tied up with langruk.. my college friend .. a civil engineer is working with DLF.. he is working for MALL of india project in gurgaon...(the largest mall in asia) ... he tells me that DLF has grand plans .. but he gave a great insight to me:
dont invest in dlf rather invest in JK cement ... jk supplies cement to major builders in a big way.... jk cement has got good financials but i am afraid because of cyclical nature of business... basant ji wat wud u prefer in such a case? dlf or JK?? IS it like asking wat wud u prefer maruti or asahi ? ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: basant
Date Posted: 18/Jul/2007 at 6:38pm
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Personally I prefer none. But companies supplying predominently to single customers could be dangerous. Also what stops DLF from buying ACC cement? Is there any agreement and if so that agreement would not be at market price but at a discount. Between the two DLF is better. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 18/Jul/2007 at 6:39pm
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JK is not only supplying to DLF but also to unitech, ansal's and parsvnath etc. ... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: CHINKI
Date Posted: 18/Jul/2007 at 6:56pm
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DLF BAGS RS 6,000CR DDA CONTRACT
MUMBAI, JULY 18: Real estate developer DLF Ltd on Wednesday said it has secured a Rs 6,000 crore contract from Delhi Development Authority (DDA) for constructing an international convention centre in Dwarka. Located close to Indira Gandhi International Airport in one of the fastest growing sub-cities of the national capital, the centre would be designed, developed and operated by DLF, the company said in a communique to the Bombay Stock Exchange (BSE). The centre would be designed as per international norms, and would be comparable to Singapore's Suntec Convention Centre, it said. The main convention hall of the centre, proposed to be set up on nearly two million sq ft area of Rs 900 crore value, would be able to accommodate 12,000 delegates with telescopic seating arrangements. The hall would be capable of partitioned in multiple smaller halls. The convention centre would consist of 25 meeting rooms with total seating capacity of over 2,000 delegates and two exhibition halls of 5,000 sq mt. However, the hotel complex would comprise of 835 rooms of different categories. The complex would be constructed in an area of 6.5 lakh sq ft area. There would also be a commercial complex in the centre, which would have food and beverages facilities, shopping malls, multiplexes, offices and ancillary support units. The socio-cultural and community facilities would accommodate premium boarding and lodging complex for international students and diplomats, indoor and outdoor sports facilities, and global art and craft village. SOURCE: http://www.financialexpress.com/latest_full_story.php?content_id=170399 - FE ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: tyler_durden
Date Posted: 18/Jul/2007 at 8:21pm
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means more cement from jk... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: vivekkumar_in
Date Posted: 18/Jul/2007 at 9:47pm
Very good perspective Basant ji ! For all general purposes it applies when one thinks between investment in land against investment in a good company. ------------- Often we forget there's a company behind every stock,and there's only one reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies. P Lynch |
Posted By: basant
Date Posted: 18/Jul/2007 at 10:28pm
The past historic rate of returns are put in this thread http://www.theequitydesk.com/forum/forum_posts.asp?TID=81 - Read how wealth can be created in stocks only!!! Those returns relate to the US and not for here.But I do not think that there should be any significant changes in the super long run irrespective of which country we choose to analyse
http://www.theequitydesk.com/forum/forum_posts.asp?TID=81 - ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: xbox
Date Posted: 18/Jul/2007 at 5:25am
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Real estate sector like IT sector will go though boom, doom & boom. ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: CHINKI
Date Posted: 18/Jul/2007 at 10:49am
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MUMBAI: Realty and land bank play are words that are no longer an anathema in the capital market. In a complete volte-face , and less than two weeks since DLF’s listing, it appears that change is in the air. The recent past had seen the Delhi-based real estate company’s second attempt to tap the market meet with a muted response — the stock was listed with a small premium on its debut. Reason being the real estate tag. Land bank is once again the mantra and it comes as no surprise that most of the prominent real estate stocks are registering impressive gains almost on a daily basis. The real shot in the arm was, however, when BSE launched a separate real estate index — BSE Realty. COMPLETE STORY IN : http://economictimes.indiatimes.com/Markets/News__Views/Analysis/Realty_stocks_fly_high_as_land_banks_back_in_play/articleshow/msid-2216216,curpg-1.cms - ET ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: xbox
Date Posted: 18/Jul/2007 at 11:05am
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It is highly possible that weitage of IT companies in SENSEX gets reduce & reality, banks or engineering to gain. Somebody said unitech...could..be ------------- Don't bet on pig after all bull & bear in circle. |
Posted By: CHINKI
Date Posted: 19/Jul/2007 at 9:36pm
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MUMBAI, JULY 19: Real estate developer DLF on Thursday posted a net profit of Rs 579.27 crore and total revenue of Rs 1207.11 crore for first quarter ended June 30. The board of directors of the company at its meeting on Thursday declared dividend of Rs 2 on shares of Rs 2 each (100 per cent) on the entire equity share capital including the shares issued in the IPO of the company for the financial year 2006-07. FURTHER DETAILS IN: http://www.financialexpress.com/latest_full_story.php?content_id=170506%20 - |
Posted By: deveshkayal
Date Posted: 19/Jul/2007 at 10:59pm
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While his firm brought out a sell report on DLF, Nemish Shah is accumulating DLF since its listing and recommending to others...whether its a long term bet or short term remains to be seen...watch this space... ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: kulman
Date Posted: 19/Jul/2007 at 11:08pm
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While his firm brought out a sell report on DLF, Nemish Shah is accumulating DLF ....
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Maybe that's the main reason for bringing out the SELL report!
I have absolutely zero respect for hypocrites/imposters.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: basant
Date Posted: 19/Jul/2007 at 11:11pm
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RD, RJ and RK Damani have also been rumoured to have bought DLF - Please do your own diligence because though I believe this news to be true it is still a rumour in the strict sense of the word. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: deveshkayal
Date Posted: 19/Jul/2007 at 11:16pm
RJ said in that CNBC interview that he will not apply for DLF IPO...i dont think he has appllied...I think its a trading call... ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: reetesh
Date Posted: 19/Jul/2007 at 11:34pm
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3 cheers to KOTAK, they marketed this stock very very well.
They were most aggresive and onus was on Uday Kotak.. ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: smartcat
Date Posted: 20/Jul/2007 at 12:15pm
Either that or the big bull changed his mind. After the listing, DLF has come out with lots of future plans/statements in media which they were not allowed to do so during the quiet period. All analysts expect DLF to be the Infosys of the real estate industry, in terms for disclosures and investor friendliness. |
Posted By: psimajin
Date Posted: 20/Jul/2007 at 3:08pm
| Its past doesnt suggest as such |
Posted By: tyler_durden
Date Posted: 20/Jul/2007 at 5:17pm
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i dont remember dlf caught up in major controversy....and even if they were involved in political controversies then we have reliance also .... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: CHINKI
Date Posted: 01/Aug/2007 at 8:28pm
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INDIAN REAL ESTATE STOCKS MOST EXPENSIVE IN THE WORLD
P/E multiple for trailing 12 months highest among all countries, return on equity second lowest among all emerging markets and lower than most developed markets New Delhi: Real estate stocks in India are the most expensive in the world even as they give lower returns than most of the emerging as well as developed markets including China, Singapore, Hong Kong and Australia. The revelation has come in the backdrop of a seven-year bull run in the global property stocks coming to an end in the second quarter of 2007, although emerging markets bucked the trend, according to second-quarter review of property sector by international investment services firm Standard & Poor’s. FOR FURTHER DETAILS CLICK HERE : http://www.livemint.com/2007/08/01183726/Indian-real-estate-stocks-most.html%20 - LIVEMINT ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: vishal.sahay
Date Posted: 04/Aug/2007 at 3:34pm
Who says Indian Reasl Estate Market is expensive..by looking at this table it doesnt look to be
------------- Vishal |
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Posted By: vishal.sahay
Date Posted: 04/Aug/2007 at 3:44pm
Benchmarking the financials of Indian real estate sector also reveal that Indian real estate market is poised for huge growth
------------- Vishal |
Posted By: basant
Date Posted: 04/Aug/2007 at 5:12pm
There were so many global comparisions yet no one could bring it up before and we all said bubble. Though I would never have put money in this sector this sector has proved many of us wrong and we should understand that whatever the sector does it has made a tonne of money for the early investors.
CapitaLand has a JV with the Future group through Future Capital.
 ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
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Posted By: vishal.sahay
Date Posted: 04/Aug/2007 at 5:57pm
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but these reports does provide u some benchmark, and also these reports do provide the global comparison at point when other say they are expensive. To put it into more simple words the other day i saw some analyst commenting that media has run up ahead of its valuation but then i think that analyst forgot the kind of oppurtunity the media sector reprsents like
So, the sectors like real estate, media, retail, financial services its all about execution and scalibilty. The company who so ever has these two things in command will definately be a leader. And to me DLF has both management and execution skills where it can go and claim high valautions like other emerging stocks.
------------- Vishal |
Posted By: smartcat
Date Posted: 05/Aug/2007 at 12:16pm
| Basant, Point to be noted, My Lord! These JP Morgan waley are looking at P/E and EPS growth while evaluating real estate companies. |
Posted By: kulman
Date Posted: 05/Aug/2007 at 12:25pm
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These JP Morgan waley ...
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Suit-boot aur Tie waale.... SmartCat?
They seem to have been licenced to steal.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: vishal.sahay
Date Posted: 05/Aug/2007 at 12:50pm
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all they have done the comparison in their report to analyse the stock from every financial persoective whether its PE,EPS or NAV ..also they do have provided where all the real estate can unlock the value and face pressure and beleiev me the more i read in that report its cearly shows DLF can become very big in next few years ------------- Vishal |
Posted By: deveshkayal
Date Posted: 27/Aug/2007 at 11:35am
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Indian real estate major DLF Group is planning to step up on its cinema exhibition business through its wholly owned subsidiary - DT Cinemas. Plans are to add 200 screens to the DT brand in the next two years at an approximate cost of Rs 5 billion (Rs 500 crores), which will cover the major cities across India. In the first phase spanning the next eight to nine months, plans are to complete work on 35 – 40 screens across the country. Refuting media claims that international players like Warner Brothers would be part of the expansion bid, DT Cinemas CEO Kajal Eijaz says, "We are planning to build more screens across cities in Source: BusinessofCinema ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: PKB2000
Date Posted: 14/Sep/2007 at 7:38pm
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I have heard that the DLF associates is also under consideration of listing but outside India! ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: smartcat
Date Posted: 14/Sep/2007 at 7:39pm
| It will be listed in Singapore Stock Exchange. |
Posted By: PKB2000
Date Posted: 14/Sep/2007 at 7:41pm
------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: PKB2000
Date Posted: 14/Sep/2007 at 7:59pm
Smartcat Ji if / when this happens then will the people be more clear about the valuation of DLF / balance sheet of the company in future. In short will it not a better clarity of DLF itself thereafter, (indirectly thats a good thing for analysts of DLF!!!) ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: smartcat
Date Posted: 14/Sep/2007 at 12:30pm
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I don't think listing of DLF Assets will bring clarity on DLF valuations - because these two are separate entities (with no equity cross holding I presume). The listing might even confuse more analysts!
DLF (India listed company) holds all the land. It's business model involves
- Selling land to DLF Assets & others and gain from land price appreciation.
- Develop residential, retail and commercial properties and SELL it. DLF Assets (the one going to Singapore) is the company to which DLF sold land for something like Rs. 2,000 crores in FY07. DLF Assets will develop commercial and retail properties on this land and give it for rent. DLF Assets will be like a http://www.investopedia.com/terms/r/reit.asp - REIT (Real Estate Investment Trust)
Why are the promoters keeping these two separate? That's a mystery. My best guess is that - returns earned by DLF Assets (rental income) would be significantly different from that of DLF (sale income) - and the promoters want the investors to choose where they want to invest.
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Posted By: PKB2000
Date Posted: 15/Sep/2007 at 8:19pm
"Why are the promoters keeping these two separate?"
(In a lighter term) ONLY TWO- for such a huge capital oriented company! I really wonder! I have seen that a family comprising four people selling same kind of product has formed 9 companies Brijmahan Polymer Bansal Elastomer Bharat Rubber Flexi Plast elastomer Flexi plast rubber Green plast Processors Bansal trader ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: deveshkayal
Date Posted: 16/Sep/2007 at 6:26pm
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A property consultant said DLF got the land cheap from DCM for 1600 crs. DLF will recover the amount in 5 years from commercial rentals. ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: smartcat
Date Posted: 17/Sep/2007 at 12:28pm
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Posted By: PKB2000
Date Posted: 17/Sep/2007 at 9:08am
They are special type of LALOO! but not LP
They have two childrens - hope they will not extend upto nine in future!
Making nine companies is not of their brain work. It is the C.A. - behind the idea. Family oriented business in India are most preferred till today and Indian C.A.s / Finance people encourage them. Does Mr. Chindambaram own three childs- as I understand his wife runs Three businesses!!! ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: smartcat
Date Posted: 20/Sep/2007 at 5:13pm
http://www.moneycontrol.com/india/news/recommendations/buy-dlf,-says-edelweiss-sec/303965 - Buy DLF, says Edelweiss Securities
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Posted By: smartcat
Date Posted: 27/Sep/2007 at 5:00pm
http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=305172 - Credit Suisse neutral on DLF, target price of Rs 770
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Posted By: smartcat
Date Posted: 01/Oct/2007 at 6:36pm
http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=305729 - Buy DLF, target Rs 800: CLSA
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Posted By: PKB2000
Date Posted: 02/Oct/2007 at 1:30pm
------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: vishal.sahay
Date Posted: 02/Oct/2007 at 11:38pm
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NEW DELHI: Fuelled by the impressive economic growth, the country's real estate market which is growing at 30 per cent, is likely to touch $90 billion by 2015, a recent report projects. Though the growth of the realty sector came down in recent times, it would touch $90 billion from the current level of $14 billion and would help the economy continue to grow between 9-10 per cent, according to a recent report by industry body, Assocham. "While $10 billion FDI is expected to flow to the sector by 2008, it might reach $15 billion by 2010," Assocham President Venugopal N Dhoot said in a statement. The additional requirement of 370 million sq ft of space in urban areas by 2010 by IT, ITeS, financial services and organised retail alone has still made the real estate most lucrative sector, providing returns ranging from 20 to 30 per cent, the report said. Repealing the Urban Land (Ceiling and Regulation) Act 1976, rescind of the Rent Control Act and increasing floor-area-ratio would give further boost to the sector, Dhoot added. According to the chamber report, IT and ITeS, banking and financial services have in particular created a huge demand for office space. IT and ITeS alone is expected to require 150 million sq ft across urban India by 2010, while services are further expected to clock a double-digit growth in the future, keeping the demand of office space robust. As per the report, analysts pegged the total demand for commercial office real estate in Bangalore, Chennai, Delhi-NCR, Mumbai, Pune, Hyderabad and Kolkata alone to be over 25 million sq ft in 2006. ------------- Vishal |
Posted By: vishal.sahay
Date Posted: 02/Oct/2007 at 11:41pm
------------- Vishal |
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Posted By: PKB2000
Date Posted: 02/Oct/2007 at 12:47pm
What RBI can do
1) Can increase CRR rate - MD YES bank
2) Do not expect to soften rate - almost all analysts
3) "Why did not you decrease the rate of interest on home loan by 100 basis point- seems you are conservative" by our Finance Minister as said by Dipak Parekh ( HDFC bank)
4) RBI believes that we are not insulated from global factors fully - during the peak of Subprime issue
5) Citi bank calls Educomp as big theft in SENSEX and also they gave a sell call on REL when it was 1000- many people believe that they have given for consolidating their positions
Lots of argument and probabilities. the curse of life is the fear of unknown uncertain future- DEMON and GHOSTS. But we must live with us in our present and that is real. ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
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Posted By: PKB2000
Date Posted: 03/Oct/2007 at 2:35pm
Surely it will cross 1000 but not today. Its an investment stock indeed! ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: smartcat
Date Posted: 03/Oct/2007 at 3:27pm
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For this stock to move, we need to do some egging on..
You Go Big Boy, Go, Go, Go!
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Posted By: smartcat
Date Posted: 03/Oct/2007 at 6:06pm
Our expert 'Big Ears' provides some useful insight into the Bangalore township deal
Source: MoneyControl.com
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Posted By: kulman
Date Posted: 03/Oct/2007 at 9:06pm
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SmartCat....I heard some buzz from Bengaluru that today you were telling your friends about thousands of acres you recenty bought on Mysore Road!!
Please reserve a villa there which would be used as a guest house by TEDdies. ------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: CHINKI
Date Posted: 03/Oct/2007 at 9:43pm
Smartcat it is 90Kms from Mysore. By the by, the way your stocks are moving up including the ones which you have picked recently, you can very well get a villa for the teddies.  ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: smartcat
Date Posted: 03/Oct/2007 at 12:11pm
That's OK, as long as it doesn't get inside their heads. Or else they will end up on CNBC as TAUs and Chat Lals.
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Posted By: kulman
Date Posted: 03/Oct/2007 at 12:18pm
ha ha ha
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: smartcat
Date Posted: 04/Oct/2007 at 1:01pm
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Chinki, a couple of my friends have already bought land in this area (Bidadi) 6 months back. It is a private layout but the local developer was charging Rs. 600 per sq. ft. The whole area looks deserted and we only have a few cows and sheep for company. I was laughing at them all this time for spending Rs. 15 lacs on property so far away from Bangalore.
But now that DLF is coming up with this township in this area, I guess my friends are going to have the last laugh.
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Posted By: kulman
Date Posted: 04/Oct/2007 at 1:09pm
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Smartly diverting attention......you have conveniently not addressed the issue of that Villa for TEDdies.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: smartcat
Date Posted: 04/Oct/2007 at 1:14pm
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hee hee. I have a disease called 'selective amnesia'.
But seriously, real estate investment is also a mix of science, art and luck (like stock market investment). My friends bought that land there with the logic that the proposed Bangalore - Mysore expressway is only 2 km from their land.
But now, they have one more 'trigger' - like we have unexpected triggers that result in upside in stocks.
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Posted By: johnnybravo
Date Posted: 04/Oct/2007 at 1:20pm
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Investments in Real Estate for retail investor is more dependent on 'what others do'. It is always a factor of: 1) What the Govt thinks or the political bosses think of a particular area 2) What area is perceived by big corporations for setting up townships 3) What the companies think of the area for setting up offices 4) Then there is a beast called as SEZ which suddenly sets up things to fire 5) After all the talks finally how retail investor thinks whether the area is worth buying an apartment. I have seen these things happening with Hadapsar and Wakad areas in Pune where prices have tripled in just one year - simply becoz people keep talking about Sharad Pawar and Microsoft and all kinds of people in between! |
Posted By: CHINKI
Date Posted: 04/Oct/2007 at 1:26pm
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Knowledge City Project was there for some time and infact we had a Flat Project there which we had sold at around Rs.1,700/- per sft a year back. Within 6 months,from the same builder we had one more project next to the earlier one, which we sold around Rs.2,600/- per sft and now it has become Rs.3,000/- per sft.
Investment principles or strategies which we follow for shares would apply for any investment. Now the only question is holding flat at such places gives you more benefit or holding a share of a company owning such places. ------------- TOUGH TIMES NEVER LAST, BUT TOUGH PEOPLE DO |
Posted By: nil5624
Date Posted: 04/Oct/2007 at 5:32pm
REALLY THE BIG DADDY
------------- PLZ READ THE OFFER DOCUMENT B4 INVESTING. |
Posted By: PKB2000
Date Posted: 04/Oct/2007 at 8:21pm
------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: PKB2000
Date Posted: 04/Oct/2007 at 8:24pm
I think I did not do much wrong in taking some more today ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: kulman
Date Posted: 04/Oct/2007 at 8:56pm
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Billionare in a day: Imagine making close to $5bn in a day. But KP Singh India’s No. 1 real estate tycoon, has done just that | http://www.dnaindia.com/report.asp?NewsID=1125328 - Read
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I know he's media shy but our print media is extremely biased.....
...............................the news article doesn't mention about him ...at least they could have put Smartcat's photo also alongside.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: smartcat
Date Posted: 04/Oct/2007 at 12:08pm
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If I smile, the camera lens will crack. Media men keep a safe distance from me. I'm going to Chennai for a few days. Will be back on Monday. Don't sell off TED when I'm gone.
While I'm in Chennai, I might as well exercise my 'shareholder rights' by staying at one of the DLF properties for free.
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Posted By: muralimohan001
Date Posted: 08/Oct/2007 at 6:52am
DLF to make Sensex debut on Nov 19
------------- If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge, experience and ability. |
Posted By: kishanpv
Date Posted: 09/Oct/2007 at 5:44pm
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I have always had (and having) a bad impression about the management w.r.t their behaviour on the listing delay, minority shareholders issues,..
Can any one brief of the management quality ? or is it "it is fine as far as the stock is moving" !!
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Posted By: smartcat
Date Posted: 09/Oct/2007 at 5:54pm
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DLF's management team are angels and fairies, complete with a floating glowing ring over their heads.
Management quality is more of an individual's perception rather than something that is measureable on a scale of 1 to 10. Any management that has a built a Rs. 1,30,000 crore company has to be 'good'.
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Posted By: kulman
Date Posted: 09/Oct/2007 at 6:05pm
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management team are angels and fairies, complete with a floating glowing ring over their heads.
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SmartCat....they might be using Havells' energy efficient CFLs for that effect. Just check Havell's advt & get it confirmed by DLF.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: smartcat
Date Posted: 09/Oct/2007 at 6:22pm
| That is one of the most irritating ads on TV right now. I measure management quality based on the type of ads they show on TV. I am definitely not buying Havells stock. |
Posted By: kulman
Date Posted: 09/Oct/2007 at 7:19pm
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You know some companies strategically put that irritation in their advts. It has it's desired impact/effect. Whether this is +ve or -ve is a debatable issue.
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: PKB2000
Date Posted: 09/Oct/2007 at 9:24pm
Yes the adv is irritating, It gives me headache ------------- I am always doing that which I cannot do, in order that I may learn how to do it. ~Pablo Picasso |
Posted By: muralimohan001
Date Posted: 09/Oct/2007 at 1:36am
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DLF to sign licensing deal with Giorgio Armani
India’s largest real estate company, is learnt to be close to signing a licensing deal with Italian luxury brand, Giorgio Armani. As per the deal, DLF will have the rights to retail and market the brand in the Indian sub-continent. When contacted, DLF Retail MD Arvind Nair said, “This is an area we are seriously exploring as demand for international brands has grown manifold and consumer expectations far outweigh supply.
However, it is still premature to comment on specific deals and we are still under discussions.” A source close to the development said that talks with Giorgio Armani is at a fairly advanced stage, and the two companies only have to iron out some small glitches. The first store is likely to open in Delhi at DLF’s luxury mall, Emporio, in the first quarter of 2008. Giorgio Armani, named after the famous Italian designer, was started in the 1960s and is credited to have redefined corporate dressing in the Western world. Since then, the brand has diversified and the company now licenses its name for perfume, watches, and accessories, though apparel still accounts for more than half of revenues. The brand is present in over 35 countries with over 300 stores. Recently, DLF has been one of the most sought after India partner for such foreign brands and retail chains. What seems to be attracting foreign companies to DLF is the landbank the Delhi-based company has in various parts of the country. For any retailer, access to right locations is a primary concern. Plagued by increasing real estate costs, particularly commercial properties, many brands, department stores and fast-food retail chains have even shelved expansion plans in the country. A source said that DLF plans to develop over 30 million sq ft of retail space in five years, which would be an attraction for any retailer. “DLF’s lack of retail expertise isn’t an important concern as that can be provided by the foreign brand. Good real estate at the right cost is the most important requirement,” a source said. More importantly, a major part of DLF’s development will come up in metropolitan cities. This makes the proposition even more viable for a high-end luxury brand like Giorgio Armani. At present, DLF commands a stand-alone landbank of over 13,000 acres. Of this, almost 3,000 acres can be used for commercial purposes. Source : ET ------------- If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge, experience and ability. |
Posted By: rider.royal
Date Posted: 10/Oct/2007 at 12:27pm
| Well in landbank area, DLF is ahead of its competitors so it is bound to be favoured as partner by foreign brands atleast for some time being till few of these plans actually materialise... |
Posted By: smartcat
Date Posted: 18/Oct/2007 at 5:07pm
http://www.moneycontrol.com/india/news/business/dlf-did-not-define-carpet-area:-mrtpc-/308568 - DLF did not define carpet area: MRTPC
I seem to like companies that get into trouble with authorithy!
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Posted By: smartcat
Date Posted: 31/Oct/2007 at 4:04pm
http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=310717 - DLF Q2 FY08 net profit up at Rs 2018 cr
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Posted By: muralimohan001
Date Posted: 04/Nov/2007 at 1:21am
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DLF looks to bring home 20,000 migrant workers
Homecoming win-win deal. DLF, plans to bring 20,000 Indian labourers from the Middle East back home to work for its projects
http://economictimes.indiatimes.com/DLF_looks_to_bring_home_20K_migrant_workers/articleshow/2517703.cms - http://economictimes.indiatimes.com/DLF_looks_to_bring_home_20K_migrant_workers/articleshow/2517703.cms ------------- If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge, experience and ability. |
Posted By: smartcat
Date Posted: 07/Nov/2007 at 3:28pm
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Real estate is one sector which MF industry missed in 2006, and they are continuing to ignore it in 2007.
Yes, a large number of mutual funds http://www.valueresearchonline.com/funds/comres.asp?code=16884&order=NetAsset&ordertype=1 - have exposure to DLF but it constitutes only 1 - 2% of their overall portfolio. This is surprising since DLF is a high profile company with a massive market cap and is expected to generate a net profit of Rs. 8,000 crores in FY09.
Real estate sector weightage in the indices will continue to go up. I wonder when these guys will wake up and smell the coffee.
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