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)

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..