05-10-07
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#1
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Unregistered User
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DLF to consider fund raising from abroad
A meeting of the board of directors of DLF, will be held on Oct. 11, 2007, to consider fund raising from abroad, and participate in the proposed IPO of DLF Offices Trust in Singapore.
Further the board will also consider international acquisition and investment in various development projects in India and abroad.
In last month, DLF and Ansals inked pact with Power Trading Corporation (PTC) for buying power for their housing projects. As per the memorandum of understanding (MoU), PTC will supply power on a 24-hour basis for the real estate companies` residential projects.
DLF is a real estate developer based in New Delhi. The company operates under the segments of residential, commercial retail, hotels, infrastructure and SEZs. The company develops residential, commercial and retail properties. Its landmark project DLF City is spread over 3,000 acres in Gurgaon. DLF City incorporates Cybercity, a leading commercial development with approximately 20 million square feet area available for development.
Shares of the company declined Rs 30.35, or 3.4%, to settle at Rs 862.40. The total volume of shares traded was 2,013,297 at the BSE.
Source: Myiris
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