News: DLF to invest Rs 1,00,000 cr
(PTI 21/05/2006) New Delhi - Real Estate major DLF Universal may invest over Rs 1,00,000 crore in next seven to 10 years in both its existing and new business ventures.
As per available information, bulk of these investments would be made in the three new businesses -- hospitality, SEZs and infrastructure. In each of these businesses, the Group, which is coming with a mega IPO in next couple of weeks, would take leading global players as partners.
"We are in the business of real estate development including residential, commercial and retail properties, and we intend to diversify into new businesses such as hotels, SEZs and infrastructure," DLF said in a draft prospectus submitted the market regulator SEBI.
In the core sector of the business like house, offices and shops and other purely real estate development, the company will be go on its own, but in new businesses, DLF is planning to enter into partnership for each category.
According to sources in the know, the new business would have an investment of up to Rs 60,000 crore and DLF would have majority stake of 51 per cent or more in the partnerships.
Although the company has begun looking for partners for each new business, sources declined to divulge details. In the hospitality business, DLF has tied up with global hotel chain Hilton.
The company is also talking to various other global brands like Four Seasons and Peninsula for luxury hotel segment, sources said.
As per available information, bulk of these investments would be made in the three new businesses -- hospitality, SEZs and infrastructure. In each of these businesses, the Group, which is coming with a mega IPO in next couple of weeks, would take leading global players as partners.
"We are in the business of real estate development including residential, commercial and retail properties, and we intend to diversify into new businesses such as hotels, SEZs and infrastructure," DLF said in a draft prospectus submitted the market regulator SEBI.
In the core sector of the business like house, offices and shops and other purely real estate development, the company will be go on its own, but in new businesses, DLF is planning to enter into partnership for each category.
According to sources in the know, the new business would have an investment of up to Rs 60,000 crore and DLF would have majority stake of 51 per cent or more in the partnerships.
Although the company has begun looking for partners for each new business, sources declined to divulge details. In the hospitality business, DLF has tied up with global hotel chain Hilton.
The company is also talking to various other global brands like Four Seasons and Peninsula for luxury hotel segment, sources said.
posted by InCar Group Press Room at 12:48
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