DLF on a Land Buying Spree in Andhra Pradesh

‘Building India’ is the spirit the realty giant DLF lives by – its latest acquisition is a stretch of 25 acres in Hyderabad for Rs.452 crore in an auction sale to develop an IT Park. The company is understood to have made a part payment of 30% to the state authority.

Already in possession of a 40 acre plot for an IT-SEZ in Hyderabad, DLF
is actively scouting for saleable properties throughout Andhra Pradesh.
The company’s pan-India presence is reflected in its land reserve of 10,250 acres.

It includes 25 acres in Sonepat, 265 acres in Indore, 242 acres in Bangalore,
5,269 acres in NCR, 2331 acres in Kolkata, 113 acres in Chennai, 22 acres
in Mumbai, 385 acres in Pune, 433 acres in Chandigarh, 153 acres in Nagpur
and 524 acres in Goa.

DLF’s project list includes 2 IT SEZs in Gurgaon, and one each in Pune and Hyderabad. The approval for one in Chennai is expected, while in-principle authorization has been received for IT SEZs in Delhi and Bhubaneswar.

The company is working on an aggressive growth plan in its entertainment
division, with a target of 200 screens by 2009 at an investment of Rs.500
crore.

In the first phase, 35-40 multiplex screens of the DT Cinemas brand
will come up across several cities, including Mumbai, Delhi, Chennai,
Bangalore, Ahmedabad, Noida, Gurgaon, Pune, Goa, Ludhiana, Chandigarh and
Kochi.

Interestingly, rival real estate developer Parsvnath has announced
its decision to diversify into the mobile telephony business with GSM
based services.