Indian Realty monster DLF Ltd. has got the green signal from Delhi Development Authority (DDA) to develop an International Convectional Centre at Dwarka in New Delhi. Ventures will appear on an area of about 2 Million Sq.ft and is expecting to be finished by three to four years as reported by the sources at the www.propertykhazana.com. The planned centre will have a convention and exhibition centre, hotel complex and an collection of other amenities comprising housing for international students/diplomats, elite recreational club etc. The hotel and the retail space of the centre will be let on rent or lease basis and it will bring DLF a striking rental income.
Sources revealed at www.propertykhazana.com said that to produce more, DLF has joined up with the Tata Retailing Services for development of Shopping Malls and the company has a big property bank, but to take this on call on this order will be too premature. Even though, the 60,000 Crores venture has the huge significance for DLF will however not come up in the top line awaiting 2009-10. As much as the productivity is concerned it will be replicated only in 2010-11. It is an explosion time for the DLF and the company’s stocks raised by nearly 5.5% on the particular day to close at Rs. 643. Having scheduled at 11% quality to its factor rate of Rs. 525 and the stock is trading at the price-to-earnings (P/E) ratio of 56.
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