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DLF
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No chance for 5-10 years for DLF,UNITEC it will be decline whole world ,FM said if realestate will be noT cut price ,then they will be ...
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Job losses....
Posted by :
sambala
DLF stalls projects, retrenches staff
DLF, the country`s largest real estate company, today said that it has deferred several residential, hotel and commercial projects and retrenched an unspecified number of staff due to the lack of demand for housing.
DLF Chairman K P Singh said the real estate sector would witness massive job losses unless steps were taken to boost housing demand by reducing the rate of interest on home loans to around 7 per cent.
Singh said the real estate sector supports the livelihood of many people and stalled projects meant people will lose their jobs. He added that his company may have laid off some people, but did not give any numbers. Other developers like Unitech and Parsvnath Developers are also reported to have retrenched staff in the recent past.
Singh`s remarks, made on the sidelines of the India Economic Summit organised by the World Economic Forum, come at a time when there are reports of real estate firms laying off employees, as part of their cost-cutting drive.
Developers have been facing liquidity crunch for over a year now. One of the reasons for this is the high risk weightage for bank loans to real estate and the ban on them from borrowing funds overseas.
However, the government has asked developers to slash prices of their projects to boost demand in the sector. Singh said the lack of demand has already led to lower prices.
Meanwhile, Crisil has lowered its rating on DLF`s non-convertible debenture programme and long-term bank facilities to AA-/Stable from AA/Stable. The rating agency said the revision was prompted by a weakening of the company`s debt protection measures and higher-than-expected gearings.
The weakening was on account of higher debt funding of receivables from DLF Assets (DAL) and increased payments made for land.
The rating agency said it may revise its outlook on DLF to `negative` if the receivables from DAL increase significantly beyond current levels. Conversely, the outlook may be revised to `positive` if there is a significant improvement in the company’s capital structure and debt protection measures.
Crisil`s rating derives support from the company’s policy of reducing its gearing to about 0.5 times. "These rating strengths are partially offset by the risks and cyclicality inherent to the real estate sector, DLF’s aggressive plans of diversification into non-real-estate businesses, and the high levels of receivables from DAL," said Crisil
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The Chairman of DLF Ltd, Mr K.P. Singh, on Tuesday said that weak demand for real estate due to high interest rates is leading to deferment of projects, including its own, and admitted that the company had even laid-off some employees....
DLF under fire
Posted by : GuestTracked by: 0 Boarder
DLF going to fire their employees due to bad market...
Buy DLF from current price for 3 months
Posted by : NodickTracked by: 1 Boarder
btw today DLF is up and FM Statement does not run market...
In reply to:
Buy DLF from current price for 3 months
Posted by :
sattmarket
No chance for 5-10 years it will be decline whole world ,FM said if realestate will be now cut price ,then they will be Diwalia very soon ,they cannot run their companies in this panic recession,and FII will not come,FII is not fool and retial investor will loose jobs ,they have lake of money,
so that 40-70 pecent Cut in price is very uregent to save REAL ESTATE,AUTO,AND CAR LIKE MARUITI
,MARUTI,INDICA IS VERY COSTLY IN INDIA as per world market price they r 2-3 time costly,`
Leptop very costly ,digital camera,fmcg ,moible product r very costly and weak in Quality thats y always people give prefrence to buy from outside india as per these product r coslty and life is short
DLF freezes projects, fires staff
Posted by :
ToughTalkTracked by: 0 Boarder
The liquidity squeeze-induced slump in demand has forced real estate leader DLF to fire some employees, put a number of hotel and housing projects on hold and yearn for 7% home loan rates.
“We must have laid off some employees somewhere,” DLF Chairman K.P. Singh said on the sidelines of India Economic Summit, but did not give the number of jobs that were cut.
The company has also deferred some of its projects due to poor demand. “In hotels, residential and commercial everywhere, deferred because of lower demand and liquidity crisis,” he said without sharing the specifics.
Singh also said that high interest rates have taken a toll on demand.
“There are no takers for housing sector. Ideally, the interest rate should be around 7%,” he said.
Asked if the current prices of the realty projects are inflationary, Singh denied and said: “It cannot be inflationary as it has to be competitive. It also depends on supply and demand.”
“Because of demand going down, many projects have been closed down by many developers across the country,” he added...
Buy DLF from current price for 3 months
Posted by : sattmarketTracked by: 1 Boarder
No chance for 5-10 years it will be decline whole world ,FM said if realestate will be now cut price ,then they will be Diwalia very soon ,they cannot run their companies in this panic recession,and FII will not come,FII is not fool and retial investor will loose jobs ,they have lake of money,
so that 40-70 pecent Cut in price is very uregent to save REAL ESTATE,AUTO,AND CAR LIKE MARUITI
,MARUTI,INDICA IS VERY COSTLY IN INDIA as per world market price they r 2-3 time costly,`
Leptop very costly ,digital camera,fmcg ,moible product r very costly and weak in Quality thats y always people give prefrence to buy from outside india as per these product r coslty and life is short...
In reply to:
Buy DLF from current price for 3 months
Posted by : Nodick
contactrgc, i mean nothing special about godrej from other real estate story right now all will bounce back, When retrobroker give buy call u can sale it out :)
Is it time to buy?
Posted by : dm7Tracked by: 0 Boarder
Is it long term investment in DLF now or should i wait......
Buy DLF from current price for 3 months
Posted by : nicknamechanged61Tracked by: 1 Boarder
aamir bhai,
leave these souls, don`t give them reply. their nick itself speaks a lot....
In reply to:
Buy DLF from current price for 3 months
Posted by :
retrobroker
mind ur words nodick.. i am warning u again... my netwroth is a zillion times more than u...so watch ur words....
Buy DLF from current price for 3 months
Posted by : NodickTracked by: 1 Boarder
contactrgc, i mean nothing special about godrej from other real estate story right now all will bounce back, When retrobroker give buy call u can sale it out :)...
In reply to:
Buy DLF from current price for 3 months
Posted by : contactrgc
Nodick, do u have any view on Godrej Industry and it`s real estate story. I have read in the MMB that they have good real estate business.
Buy DLF from current price for 3 months
Posted by : NodickTracked by: 1 Boarder
Not having any clarity about real estate story but so many real story are not working and there is no reason that godrej will be exception. can buy around 25...
In reply to:
Buy DLF from current price for 3 months
Posted by : contactrgc
Nodick, do u have any view on Godrej Industry and it`s real estate story. I have read in the MMB that they have good real estate business.
Tracked by: 0 Boarder
DLF stalls projects, retrenches staff
DLF, the country`s largest real estate company, today said that it has deferred several residential, hotel and commercial projects and retrenched an unspecified number of staff due to the lack of demand for housing.
DLF Chairman K P Singh said the real estate sector would witness massive job losses unless steps were taken to boost housing demand by reducing the rate of interest on home loans to around 7 per cent.
Singh said the real estate sector supports the livelihood of many people and stalled projects meant people will lose their jobs. He added that his company may have laid off some people, but did not give any numbers. Other developers like Unitech and Parsvnath Developers are also reported to have retrenched staff in the recent past.
Singh`s remarks, made on the sidelines of the India Economic Summit organised by the World Economic Forum, come at a time when there are reports of real estate firms laying off employees, as part of their cost-cutting drive.
Developers have been facing liquidity crunch for over a year now. One of the reasons for this is the high risk weightage for bank loans to real estate and the ban on them from borrowing funds overseas.
However, the government has asked developers to slash prices of their projects to boost demand in the sector. Singh said the lack of demand has already led to lower prices.
Meanwhile, Crisil has lowered its rating on DLF`s non-convertible debenture programme and long-term bank facilities to AA-/Stable from AA/Stable. The rating agency said the revision was prompted by a weakening of the company`s debt protection measures and higher-than-expected gearings.
The weakening was on account of higher debt funding of receivables from DLF Assets (DAL) and increased payments made for land.
The rating agency said it may revise its outlook on DLF to `negative` if the receivables from DAL increase significantly beyond current levels. Conversely, the outlook may be revised to `positive` if there is a significant improvement in the company’s capital structure and debt protection measures.
Crisil`s rating derives support from the company’s policy of reducing its gearing to about 0.5 times. "These rating strengths are partially offset by the risks and cyclicality inherent to the real estate sector, DLF’s aggressive plans of diversification into non-real-estate businesses, and the high levels of receivables from DAL," said Crisil
...
Buy DLF from current price for 3 months
Posted by : contactrgcTracked by: 1 Boarder
Nodick, do u have any view on Godrej Industry and it`s real estate story. I have read in the MMB that they have good real estate business....
NSE Announcements on DLF
Posted by : MMB MessengerTracked by: 0 Boarder
Dlf Limited, JM Financial Consultants Pvt. Ltd. and DSP Merrill Lynch Limited has informed the Exchange that Dlf Limited (the "Company") is buying back its own fully paid up equity shares of face value Rs.2/- each ("Shares") from the open market through the electronic trading facilities of the Bombay Stock Exchange Limited ("BSE") and The National Stock Exchange of India Ltd. ("NSE") (together the "Stock Exchanges"). The Company has appointed JM Financial Services Pvt Ltd. and DSP Merrill Lynch Ltd. as its brokers ("Brokers") for placing orders on the Stock Exchanges. The details of the purchase orders that were executed on the Stock Exchanges on November 18, 2008, in connection to the above buyback are: 1) Date of Buyback: November 18, 2008; 2) Name of the Broker: JM Financial Services Pvt. Ltd.; a) No. of equity shares bought back on BSE: Nil; b) No. of equity shares bought back on NSE: Nil; c) Total no. of equity shares bought back: Nil; d) Average Price of Acquisition (Rs.): NA; 3) Name of the Broker: DSP Merrill Lynch Ltd.; a) No. of equity shares bought back on BSE: Nil; b) No. of equity shares bought back on NSE: Nil; c) Total no. of equity shares bought back: Nil; d) Average Price of Acquisition (Rs.): NA; 4) Cumulative Equity Shares bought as on November 17, 2008: 16,21,767; 5) Quantity Closed Out on November 18, 2008 - Nil; 6) Quantity Closed out as on November 17, 2008 - Nil; 7) Total Quantity Closed Out - Nil; 8) Total Equity Shares bought back as on November 18, 2008: 16,21,767....
Projects on Hold-- Liquidity crisis
Posted by : rvk41Tracked by: 0 Boarder
The liquidity squeeze-induced slump in demand has forced real estate leader DLF to fire some employees, put a number of hotel and housing projects on hold and yearn for 7 per cent home loan rates.
“We must have laid off some employees somewhere,” the DLF Chairman, K.P. Singh, told reporters on the sidelines of India Economic Summit, but did not give the number of jobs that were cut.
The company has also deferred some of its projects due to poor demand. “In hotels, residential and commercial everywhere... deferred because of lower demand and liquidity crisis,” he said, again without sharing the specifics. Singh also said high interest rates have taken a toll on demand.
“There are no takers for housing sector... Ideally, the interest rate should be around 7 per cent.” Asked if the current prices of the realty projects are inflationary, Singh denied and said: “It cannot be inflationary as it has to be competitive. It also depends on supply and demand.” Because of demand going down, many projects have been closed down by many developers across the country, he added.
For information,with regards
rvk41...
Funds Shortage delays Projects
Posted by : rvk41Tracked by: 0 Boarder
DLF group has delayed all its ongoing projects across the country due liquidity crunch, reports Business Standard.
The company said that in case DLF continues to face the situation of almost no demand for houses from the consumers it would have to close down all its future plans, and if that happens, lots of people would turn jobless.
The company said that if the current trend continues, the companies would have no choice but to slash the prices.
For information,with regards
rvk41...
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