DLF chairman now richest real estate mogul with Rs 1,244.2 bn wealth

18 Jul 2024 CW Team

According to DLF's latest annual report, Singh received a remuneration of Rs 273 million for the financial year 2023-24, marking a 38% increase from the Rs 197.7 million he received in the previous year. The report lists the remuneration for directors and key managerial personnel (KMPs) for the year.

Ashok Kumar Tyagi, Managing Director and Chief Financial Officer (CFO), received Rs 135.2 million, up 27% from Rs 106.4 million the previous year. Tyagi assumed the CFO role on May 13, 2024, in addition to his responsibilities as Managing Director.

Devinder Singh, also Managing Director, earned Rs 135.2 million for the last fiscal year, compared to Rs 107.4 million in 2022-23. Both Tyagi and Singh became Managing Directors on August 4, 2023.

DLF's remuneration policy includes salary, benefits, perquisites, and allowances (fixed component), along with commission (variable component). Annual increments are approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee (NRC). The NRC also advises on the commission payable to Executive and Non-executive Directors, within the prescribed profit ceiling.

DLF is the largest real estate firm in India by market capitalisation, having developed over 158 real estate projects covering more than 340 million square feet. The group holds a future development potential of 215 million square feet across residential and commercial segments. Its annuity portfolio exceeds 44 million square feet, generating an annual rental income of over Rs 40 billion.

DLF's consolidated revenue, including other income, rose to Rs 695.8 million in 2023-24, achieving a 16% year-on-year growth. The total comprehensive income grew by 33%, reaching Rs 273 million. The company reported robust sales bookings driven by high demand for luxury homes, achieving record sales of Rs 150.58 billion in 2022-23 and Rs 147.78 billion in 2023-24. For the current fiscal year (2024-25), DLF aims for a 15% growth in sales bookings, targeting Rs 170 billion with plans to launch luxury housing projects in Gurugram, Goa, and Mumbai. (Source: ET)

In the latest GROHE-Hurun list, 65-year-old Rajiv Singh, Chairman of DLF, has been named the richest real estate entrepreneur with a wealth of Rs 1,244.2 billion. DLF, India's top real estate firm, boasts a valuation of Rs 2 trillion. According to DLF's latest annual report, Singh received a remuneration of Rs 273 million for the financial year 2023-24, marking a 38% increase from the Rs 197.7 million he received in the previous year. The report lists the remuneration for directors and key managerial personnel (KMPs) for the year. Ashok Kumar Tyagi, Managing Director and Chief Financial Officer (CFO), received Rs 135.2 million, up 27% from Rs 106.4 million the previous year. Tyagi assumed the CFO role on May 13, 2024, in addition to his responsibilities as Managing Director. Devinder Singh, also Managing Director, earned Rs 135.2 million for the last fiscal year, compared to Rs 107.4 million in 2022-23. Both Tyagi and Singh became Managing Directors on August 4, 2023. DLF's remuneration policy includes salary, benefits, perquisites, and allowances (fixed component), along with commission (variable component). Annual increments are approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee (NRC). The NRC also advises on the commission payable to Executive and Non-executive Directors, within the prescribed profit ceiling. DLF is the largest real estate firm in India by market capitalisation, having developed over 158 real estate projects covering more than 340 million square feet. The group holds a future development potential of 215 million square feet across residential and commercial segments. Its annuity portfolio exceeds 44 million square feet, generating an annual rental income of over Rs 40 billion. DLF's consolidated revenue, including other income, rose to Rs 695.8 million in 2023-24, achieving a 16% year-on-year growth. The total comprehensive income grew by 33%, reaching Rs 273 million. The company reported robust sales bookings driven by high demand for luxury homes, achieving record sales of Rs 150.58 billion in 2022-23 and Rs 147.78 billion in 2023-24. For the current fiscal year (2024-25), DLF aims for a 15% growth in sales bookings, targeting Rs 170 billion with plans to launch luxury housing projects in Gurugram, Goa, and Mumbai. (Source: ET)

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Building Material

11 Dec 2025

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Building Material

11 Dec 2025

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..