Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

American Express buys 9 acres land from DLF Group for its Office campus

Posted On: 2019-09-16 20:57:42


DLF Ltd., India's leading real estate company, has concluded the sale of over 9 acres land located in Sector 74 A in Gurugram to American Express (India) Pvt. Ltd. (AMEX) for building its office campus. The transaction was recorded at over Rs. 32.00 crores an acre.

The land parcel is situated near DLF's existing development, Corporate Greens, located on the Southern Peripheral Road. The location has seamless connectivity from NH-48, Sohna Road, Golf Course Extension Road and the Gurugram - Faridabad road. The location already has the presence of large corporates in the close vicinity. The proposed extension of the Gurugram metro route passes through SPR opposite the land acquired by AMEX and so will be the planned Rapid Rail between Delhi & Alwar. It will also have seamless connectivity with Dwarka Expressway once the construction of clover leaf is completed at NH-48 & SPR Junction. The proposed new office of AMEX is in proximity to Manesar - the country's leading Industrial belt and the new freight corridor between Delhi and Gujarat.

Mr. Devinder Singh, Managing Director, DHDL commented "We are excited that AMEX is going to develop its new office facility at Sector 74 A, Gurugram, and we are happy to have a marquee international company in this region". Mr. Singh also added, the transaction demonstrates the potential of the area as the next business destination in Gurugram and sets the right benchmark for future developments in this upcoming urban district".

The company has a land bank of about 120 acres earmarked for commercial development in this region, DLF has ambitious plans of developing over 25 msf area in these sectors, making it a new nerve centre of Gurugram on similar lines like the existing DLF Cybercity. With planned infrastructure improvements, the district is expected to emerge as the next growth corridor of Gurugram.

DLF's has already developed various residential projects in Garden City, New Gurugram which has ready to occupy modern high-end apartments and plots. The region also has about 1,00,000 residential dwellings that are complete/under construction within a radius of approx. 10 kms of the said land.

Mr. Sriram Khattar, Managing Director, DLF Rental Business, added, "AMEX is one of our oldest lease clients. In the last 15 years, AMEX has already leased about a million square feet for their various workspace facilities with DLF. AMEX's first-ever land acquisition investment in Gurugram is a reaffirmation of Gurugram being the preferred destination for Fortune 500 companies."

DLF has developed large parts of Gurugram as a true international urban destination. With its eclectic mix of modern office buildings, vibrant retail and high-end apartment complexes, Gurugram has leapfrogged various cities, to emerge as a major capital of commerce. Various business leaders are now eyeing Gurugram as the location of choice, especially for new industries.

Shares of DLF LTD. was last trading in BSE at Rs.161.65 as compared to the previous close of Rs. 166.2. The total number of shares traded during the day was 790688 in over 4091 trades.

The stock hit an intraday high of Rs. 165.4 and intraday low of 160.1. The net turnover during the day was Rs. 128560277.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Vakrangee announces corporate agency tie up with LIC

Firstsource Solutions Ltd Q4 FY20 consolidated PAT climbs QoQ to Rs. 91.57 crore

Automotive Axles Ltd posts PAT of Rs. 5.75 crore in Q4

Daawat Basmati Rice celebrates relationships with # PehliDaawat Campaign

Newgen Software Technologies Ltd Board approves dividend of Rs. 2 for FY20

Automotive Axles Ltd board recommends dividend of Rs. 0.80

Newgen Software Technologies Ltd Q4 FY20 consolidated PAT up QoQ at Rs. 41.46 crore

McDonald's India Introduces Contactless Take-Out Service For Customers

Infosys and Avaloq Partner to Strengthen Wealth Management Capabilities through Digital Platforms

Reliance Power wins lawsuit in Indonesian Court, to get arbitration award of $68 million

Menon Bearings Ltd Q4 PAT at Rs. 3.30 crore

Indoco receives USFDA approval for Succinylcholine Chloride Injection USP

Steel Strips Wheels Ltd's tractor segment production running at 90% capacity

Orient Electric Ltd board to announce Q4, FY20 results, final dividend on June 1, 2020

Customer Safety in focus: Maruti Suzuki issues safety norms for True Value

Glenmark to commence another new Phase 3 clinical trial on a combination of two anti-viral drugs Favipiravir and Umifenovir in hospitalized patients of moderate COVID-19 in India

Zuari Agro Chemicals Ltd's NPK-A plant resumes operation from May 25, 2020

Polyplex Corporation Ltd Q4 FY2020 consolidated PAT falls to Rs. 22.97 crore

InterGlobe Aviation Ltd board to consider Q4, FY20 results on June 2, 2020

Jubilant Life Sciences Ltd board to approve FY20 results, NCD issue on May 29, 2020

Polyplex Corporation Ltd Board approves final dividend of Rs. 6

IndiGo updates on operations

V-Guard extends support towards fighting Covid-19 crisis

Aptech Ltd reports consolidated loss of Rs. 7.27 crore in Q4 FY20

Music Broadcast Lts has Strong Balance Sheet with cash reserves of Rs. 220 Crores

Bata India Ltd Board recommends Dividend of Rs. 4 for FY20

SpiceJet resumes passenger flight operations

IDFC FIRST Bank Senior Management takes 10% pay cut, MD and CEO takes 30% cut in compensation

Digitate Launches ignio™ AI.Digital Workspace to Transform End-user Workplace Experience

Vindhya Telelinks Ltd board to consider Q4, FY20 results, dividend on June 1, 2020

Dhampur Sugar Mills Ltd board to announce Q4, FY20 results on June 2, 2020

Aarti Industries Ltd Board approves final dividend of Rs. 1 for FY2020

Deepak Fertilisers & Petrochemicals Corporation Ltd Board approves Rights Issue of equity shares

Usha Martin Ltd board to approve Q4, FY2020 results on June 6, 2020

The Federal Bank Ltd board to announce Q4, FY20 results on May 28, 2020

Poly Medicure Ltd Board to consider Final Dividend for FY2020

Wendt India Ltd board to approve Q4, FY20 results, final dividend on May 28, 2020

Jindal Steel & Power Ltd Q4 consolidated PAT at Rs. 406.21 crore

Aarti Industries Ltd posts Rs. 110.35 crore in Q4 FY2020

Just Dial Ltd Q4 FY2020 consolidated PAT at Rs. 76.07 crore

BATA India Ltd reports consolidated Q4 FY20 PAT slumps to Rs. 38.40 crore

Astral Poly Technik Ltd reports lower Q4 FY20 consolidated PAT of Rs. 51.1 crore

Super Sales India Ltd Q4 FY20 net profit at Rs. 0.16 crore

Lakshmi Machine Works Ltd posts Rs. 1.88 crore consolidated net profit in Q4 FY20

Alembic Ltd reports consolidated PAT of Rs. 115.43 crore in Q4 FY2020

HIL Ltd Q4 FY20 consolidated net profit at Rs. 23.76 crore

HDFC Q4 FY20 consolidated PAT at Rs. 4115.20 crore

India Ratings Revises Snowman Logistics' Rating Watch to Evolving

Super Sales India Ltd Board approves dividend of Rs. 2.50

Alembic Ltd Board recommends Dividend of Rs. 0.60







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019