MEANING OF RESEARCH
Research is an academic activity and as such the term should be used in a technical sense.
According to Clifford Woody, research comprises defining and redefining problems,
formulating hypothesis or suggested solutions; collecting, organizing and evaluating data;
making deductions and reaching conclusions; and at last carefully testing the conclusions
to determine whether they fit the formulating hypothesis.
SIGNIFICANCE OF RESEARCH
“All process is born of inquiry. Doubt is often better than overconfidence, for it leads to
inquiry and inquiry leads to invention.” Is a famous Hudson Maxim in context of which
the significance of research can well be understood. Increased amounts of research make
Research inculcates scientific and inductive thinking and it promotes the development of
logical habits of thinking and organization.
The role of research in several fields of applied economics, whether related to business or
to the economy as a whole, has greatly increased in modern times. The increasing
complex nature of business and government has focused attention on the use of research
in solving operational problems. Research, as an aid to economic policy, has gained
added importance, both for government and business.
PURPOSE OF RESEARCH
The purpose of research is to discover answers to questions through the application of
scientific procedures. The main aim of research is to find out the truth which is hidden
and which has not been discovered as yet .
PURPOSES OF THIS RESEARCH ARE AS FOLLOW
• To create a proper awareness about DLF projects.
• To get brief information about projects of DLF.
• To study detailed information of various projects regarding their rate,margin and
• To compare various projects and find optimum scheme for different segment of
OBJECTIVE OF STUDY
To carry out the study of DLF PROJECTS, we framed the following objectives
• To Study housing, retailing and office offered by DLf in detail.
• To analyse and evaluate different DLF projects running and completed.
• To find involvement of DLF in other businesses .
• Find the performance of DLF in current year.
Research Design refers to "framework or plan for a study that guides the collection and
analysis of data". A typical research design of a company basically tries to resolve the
a) Determining Data Collection Design
b) Determining Data Methods
c) Determining Data Sources
d) Determining Primary Data Collection Methods
e) Developing Questionnaires
f) Determining Sampling Plan
Research Designs used in the project
Quantitative Research Design: Quantitative research refers to the systematic
empirical investigation of quantitative properties and phenomena and their relationships.
The objective of quantitative research is to develop and employ mathematical models,
theories and/or hypotheses pertaining to phenomena. The process of measurement is
central to quantitative research because it provides the fundamental connection between
empirical observation and mathematical expression of quantitative relationships.
In this project, empirical data regarding fixed deposit schemes will be collected and
evaluated using statistic and mathematical tools. Different variables ware mathematically
compared and optimum levels were computed.
Information can be collected through following sources
Primary Data: In some cases the researchers may realize the need for collecting the first
hand information. As in the case of everyday life, if we want to have first hand
information or any happening or event, we either ask someone who knows about it or we
observe it ourselves, we do the both. Thus, the two methods by which primary data can
be collected is observation and questionnaire.
Secondary Data: Any data, which have been gathered earlier for some other purpose, are
secondary data in the hands of researcher. Those data collected first hand, either by the
researcher or by someone else, especially for the purpose of the study is known as
The data collected for this project has been taken from the secondary
Sources of secondary data which were used are:-
• Internet – Bank websites and many survey websites were visited to get data
regarding banks and their schemes.
• Magazines – survey and articles were studied to attain information regarding
bank and Indian banking industry.
• Newspapers – articles provided information regarding banking industry,
banks and their schemes and also advertisement provided information about
various fixed deposits of banks.
• Broachers and pamphlets - they were studied to get detailed information
regarding bank schemes.
A Peep into the operational strategy: Project Execution
They have established a systematic process for land identification and acquisition, project
execution and the sales and marketing of their completed developments.
Land identification and acquisition
Their land acquisition team monitors real estate markets and emerging trends. The team
assesses selected markets to identify cities and localities with development potential. The
initial assessment and selection of the land involves a detailed assessment of the plot with
a focus on the land’s development potential and location. After they conduct a
preliminary land title evaluation and the land title is reviewed by local lawyers, a
preliminary agreement is entered into with the landowners for the purchase of the land.
Following title clearance, they either acquire the land or enter
into a joint development agreement with the owners.
The project execution process commences with the obtaining of requisite regulatory
approvals, including environmental approvals, and the development of a project concept
based on the area’s marketability, target customers and potential return. After a detailed
review of the site parameters, they formalise an architectural brief based of the project
concept which is subsequently finalised with selected architects
and other external consultants. They closely monitor the development process,
construction quality, actual and estimated project costs and construction schedules.
Sales and marketing
They operate three separate sales and marketing departments, one for each of their
residential, commercial and retail business lines. Their sales and marketing function is
illustrated in the chart (source: DLF IPO Red Herring prospectus)
• Aggressive launch of mid income housing projects in second half of Q3FY08
with primary focus on Chennai, Indore, and Kolkata.
• The New Town Heights in Rajarhat witnessed aggressive absorption; it was sold
out with in four days of its launch.
• Selling prices of the luxury housing category increased.
• New tools like one house per family and one year lock in period were used to cut
down speculative demand.
• Aggressive growth in area under construction; it increased by 16% and 35% over
Q2FY08 and Q1FY08, respectively.
• On track to achieve lease volume target of 12 mn sq ft per annum.
• Average lease rates have dropped over the past quarter by more than 30%,
primarily due to change in location.
• Management has identified 51 hotel sites compared to 39 in the previous quarter.
• The first Hilton Garden Inn is set to open in Saket (New Delhi) by end 2008.
• 4,000 hotel rooms expected to be operational by FY10 end with a long term target
of 25,000 hotel rooms in the next six-seven years.
• International Convention Centre at Dwarka, New Delhi, is in advanced stage of
design and development.
• Acquisition of “Aman” gives a significant thrust to the hotels business unit, with
strong international footprint.
• Five SEZs got notified, aggregating to 27 mn sq ft.
• Six SEZs have been sent for final approval.
• Land acquisition for both Manesar and Ambala SEZs is in progress.
• For Goa, land acquisition process has just begun.
New land acquisition
• DLF added 26 mn sq ft during the quarter, adding 748 mn sq ft compared to 738
mn sq ft in the previous quarter. The new acquisitions were as follows:
• Hyderabad Raidurg: Acquired two parcels of 26 and 30 acres of land.
• Adjoining site of Chennai IT Park: Acquired 1.73 acres site adjoining
Chennai IT Park.
• 32 milestone: Executed collaboration agreement for 10.45 acres for new site at
Village Silokhera Gurgaon
They have a loyal customer base and encourage the participation of former buyers
or tenants in their new product launches. They employ various marketing
approaches depending on whether the project is residential, commercial or retail.
These include launch events, corporate presentations, web marketing, direct and
indirect marketing, as well as newspaper and outdoor advertising. Their marketing
team sells both directly to customers and through brokers. In their commercial
and retail business lines, they market space primarily through property consultants
and by using their relationships with existing tenants. Different marketing
approaches are used to target anchor commercial and retail tenants. They use
approximately 120 brokerage firms to market their properties Mergers &
Acquisitions (Joint Ventures & Partnership) In November 2006, DLF has entered
into a joint venture with the UK-based design and
engineering consultancy firm WSP to ensure quality work in India. The joint
venture provided the design, engineering and project management services along
with infrastructure and environmental facilities.
Mr. Rajiv Singh, Vice-Chairman, DLF Ltd, said, "We are sure that while WSP
will bring in its own strengths, we at DLF will set new benchmarks in the design
and construction industry."
In February 2006, DLF has entered into a joint venture with UK's leading
construction company, Laing O'Rourke Plc to form DLF Laing O’Rourke with an
initial investment of about Rs 500 crore. Both partners had contributed Rs. 250
crore each to the initial corpus of the joint venture and it had also floated a
dedicated fund with a corpus of $1.5 billion for infrastructure projects. The joint
venture company completed the most prestigious projects of DLF like- IT Parks,
The Mall of India, The Magnolias and many of DLF's retail destinations. The
joint venture company will help DLF group in executing its infrastructure projects
like harbors, tunnels, power plants, pipelines, bridges and roads,
"The joint venture will help DLF become a major player in the country's
construction and infrastructure development programmes. It will tap potential
across infrastructure sector covering express highways, airports and hi-tech
construction involving power plants and mega projects," the DLF Universal Vice-
Chairman, Mr. Rajiv Singh, said at a conference” DLF signed a memorandum of
cooperation with Frankfurt Airport Services Worldwide in April 2007 to explore
airport projects and modernization. It launched a special purpose vehicle, DLF
Fraport SPV, specializing in development and management of airports in India.
On March 2007, DLF2 signed a 50:50 joint venture with Nakheel, a large
property developer from the UAE for two integrated townships in India with an
initial investment of $10 billion..The joint venture company will develop 40,000
acres at Gurgaon and between Mumbai and Pune in Maharashtra. Construction of
these two projects is expected to start the same year only and the first phase of the
construction/development is targeted to complete in next three years. The cost of
the land is only 40% of the $10 billion investment. Approximately 70% of the
been acquired by DLF. In November 2006, DLF signed a joint venture with
Hilton Hotels Corporation. The plan of the joint venture company is to develop
and own 75 hotels and service apartments throughout India over the next seven
years and Hilton will invest up to $143 million in the joint venture. 74% stake was
held by DLF in the joint venture and the rest will be held by the Hilton Hotel
Corporation as a symbol of its commitment to the joint venture. The first stage of
the joint venture was to involve 20 hotels in key locations like Kolkata, Chennai,
Hyderabad, Bhubaneswar, Kochi, Delhi and Chandigarh
DLF made a partnership with IBM for a 10 year contract to transform and manage
DLF's IT Infrastructure. DLF tried to leverage IBM's Information Technology
infrastructure management solution to get high quality information that will be
efficiently managed in a cost-effective manner.
Rajeev Singh, Vice Chairman DLF thinks “As part of the partnership IBM and
DLF will also set up a Technology Innovation Council (TIC) with joint
participation. The TIC will focus on identifying and deploying new solutions for
DLF and Indian Real estate industry. Some of the solutions under consideration
are advanced security management solutions like Digital Video Surveillance,
utilizing technology for land acquisition process and other management systems.
Some of the other focus areas would include IT solutions for building
management and intelligent buildings.”
DLF signed a joint venture with U.S. based Prudential Financial Inc. This
agreement allowed Prudential Financial Inc to expand its international
investments business and make a relevant mark of its official entry into the Indian
mutual fund market. Under the terms of the joint venture, DLF will own the 39
percent and Prudential Financial Inc. will hold the majority stake in the joint
venture with 61 percent interest. The asset management joint venture is based in
Mumbai and provides a wide range of mutual fund and investment related
products, including domestic and international mutual funds to Indian retail and
Competition Even though many players are present in the real estate space in
India, the top 5 of them are as under:
• DLF Ltd.
• Sobha Developers Ltd.
• Omaxe Ltd.
• Parsavnath Developers
HR Strategy of DLF
The housing sector alone is likely to generate 40 lakh new jobs within ten years.
The prime reason for such a huge demand of personnel has been due to great
demands for residential and commercial real estate projects. Moreover, the sector
offers attractive opportunities to people with roles such as developers, architects,
strategy and urban planners, civil engineers, and contractors. It also offers a
plethora of opportunities which are not confined to profiles of contractors and
builders only, but extend up to professionals including people with marketing,
law, finance, and advertising backgrounds. Many property management
companies also work tightly with the Coming to the trends of talent acquisition,
most real estate firms are becoming proactive in terms of hiring and are adopting
latest talent acquisition and recruitment sector, thereby, resulting into indirect
generation of employment. trends like on-campus recruitments, e- recruitments
using recruitment portals, executive search and so on. To meet the demands for
highly skilled professional, companies like DLF are looking out for campus
recruits from top business schools like IIMs. The job options range from real
estate appraisal to property managers, advisors, investment bankers, entrepreneur,
retail buyers and merchandisers, visual merchandisers, supply chain distributors
and logistics and warehouse managers.
Challenges for HR:
Lack of quality talent:
• There is a gap between the requirements and the availability of quality
manpower. The sector is growing quickly and the amount of human resources
available is not at par with the rate at which the sector is growing. A large amount
of talent is absorbed in mega infrastructure projects. However, the continued
growth of the industry is adding to the dearth in the existing talent pool within the
• Less Supply of freshers from educational institutions:
Since real estate sector is a burgeoning one, not every one was earlier attracted to
it. Students were lured by other sectors like IT who offered better salary packages
than real estate. As a result, people with high potential opted for computer science
degrees rather than civil engineering courses. Its only recently that some of the
universities have started offering diverse courses in real estate. Moreover,
candidates are now recognizing the opportunities real estate sector provides.
It is becoming increasingly difficult for the companies to retain talent with them.
The attrition levels in the sector have touched 12.08 per cent in last year. To retain
the potential, companies are paying hefty amounts to their employees. The salary
hike was recorded at 25.2 per cent in 2007 and is expected to be followed in
• Inculcating values:
Times have been changing for the real estate sector and earning profits has
become top priority for every company. With respect to this, the companies often
forget to comply with quality norms or ensure integrity in practices. It becomes a
challenge for the HR to inculcate values of integrity and commitment towards
customer satisfaction in all the employees. A majority of companies now also
emphasize on transparent dealings and
methods while doing business. This will be an on-going challenge since the sector
has enough weak links outside their companies, which also need to be changed.
• Lack of second line leadership:
By MNCs entering the realty markets take away the cream of talent at the first
level. Other players thus look for candidates with high leadership skills. The
challenge for HR,
here, becomes to develop the second line of management and if possible even the
third line, which is capable of undertaking enormous work pressure from the top
line. The changing face of realty sector is posing great challenges for the
companies in terms of talent shortage and high attrition. To deal with such
challenges becomes the sole responsibility of the HR departments of the
companies so as to keep pace with the
growth of the sector.
"For DLF, Corporate Social Responsibility is not just an add on; rather our
business and social commitment are mutually reinforcing and neither will be
sustainable without the other. We have a continuing social responsibility towards
the people of the area in which we operate more so towards the less fortunate. It
has been our constant endeavor to create sustainable economies and transform
stagnant lives into active partnerships through synergized proactive handholding
in areas of infrastructure, education, training,
health and environment. We have made a public commitment to carry on these
trusted relationships." – CEO Mr. K.P.Singh.
Rural Interventions: Towards better living conditions
• DLF decided to solve the local problems of Gurgaon when DLF was setting up
the DLF township in Gurgaon.
• Solved the sewer problem in Nathupur and Chakarpur villages by connecting
them to the DLF’s own sewer line system.
• Constructed the internal roads at Wazirabad and Chakarpur.
• Provided electricity in Chakarpur and Nathupur.
• Constructed the class rooms at the Chakarpur school and electricity work at the
Nathupur Higher Senior Secondary School.
DLF Luxury Homes :-
• DLF Commander's Court Chennai
• SamaTara Shimla
• The Aralias Gurgaon
• The Magnolias Gurgaon
New Projects :-
• DLF Capital Greens, Phase III
• DLF Valley Panchkula
• The Belaire Gurgaon
• DLF Park Place Gurgaon
• The Summit Gurgaon
• The Pinnacle Gurgaon
• The Icon Gurgaon
• The Royalton Tower Gurgaon
• The Silver Oaks Gurgaon
• The Beverly Park Gurgaon
Multi-Level Car Parking Projects – Baba Kharag Singh Marg MLCP & Sarojini Nagar
As part of DLF’s infrastructure development initiatives, DLF is developing two
Automated Multi Level Car Parking facilities in New Delhi. These projects are being
executed under Public-Private-Partnership with New Delhi Municipal Council
(NDMC) on Design, Build, Operate and Transfer basis.
Projects are located at the Sarojini Nagar Market (SNM) and Baba Kharag Singh
Marg (BKS), Connaught Place, New Delhi. Automated parking system at the two
locations would provide convenient parking in vertical structure. In current times,
when land has become scarce in major cities, vertical structures for car parking
provide the most apt solution.
The projects will also cater to the commercial space requirement in these areas.The
BKS Marg project with 1408 car parking capacity across 8 levels, will have
commercial space (retail/office) on both Ground and First Floor while the SNM
project with a capacity of 824 cars across 7 levels, will have retail space on both
Ground Floor and First Floor. Customer interface for parking will take place at
basement level where customer can leave their car and it will be taken to the parking
slots using lifts.
Looking at the parking situation in Delhi, this initiative by NDMC in partnership with
DLF will go a long way in improving the parking situation in these areas.
Retail - Planning and Development
• Mall of India Noida
• DLF Place NTC Mills, Mumbai
• DLF Building 7B
• Nestle House
• DLF Atria
• DLF Building 7B
• Nestle House
• DLF Atria
• Ericcson Forum
DLF IT SEZs :-
• DLF Cyber SEZ Building 14, Gurgaon
• DLF Cyber SEZ Building 6, Gurgaon
• DLF IT SEZ Silokhera
• DLF Akruti IT SEZ Pune
• DLF IT SEZ Chennai
• DLF IT SEZ Hyderabad
DLF IT Park :-
• DLF IT Park Noida
• DLF IT Park Kolkata
• DLF IT Park Chandigarh
DLF Hotels: Hospitality Re-Defined!
DLF Hotels is a premium hotel and resort development company focused on developing
the hospitality market segment in India. Its vision is "to be India's premium hospitality
real estate development company" by leveraging its real estate capabilities to build and
own India's largest chain of hospitality assets.
The objective is to develop, acquire, finance and actively manage world-class hospitality
properties. The company is in the process of building over 25,000 rooms in more than 40
cities and tourist destinations across India. These are being developed under the luxury,
business, leisure & recreational segments of the hospitality industry. The multi-crore
investment in the business structure would include diverse property tie-ups. These would
be with the finest and comprehensive global operators to suit "individual property" theme
with some of the leading brand's of hotels in the world.
From its head quarters in Gurgaon, DLF Hotels deploys a team of high caliber and
talented professionals, committed to developing and delivering premium properties.
Equipped with its expertise in real estate development, advanced technology and an
enormous land bank, the company focuses on delivering innovative property designs with
precise execution skills.
DLF Limited, the parent company of DLF Hotels, is the largest and most esteemed
organization in the real estate business with over six decades of experience in the market.
In September 2006, DLF Limited was the only real estate firm amongst the 60 business
names "Superbrands of India" under the real estate category.
The emphasis now is on strengthening its lateral and vertical business drivers. These
include the development of innovative business strategies, the strengthening of
professional resources and driving market penetration. DLF Limited has a variety of
projects that not just re-define the hospitality landscape, but the very concept of luxury as
The City Club
DLF CITY PHASE I, II, III, IV and V, GURGAON
When the Service is extraordinary, the experience can only be unique and
Discover the perfect hub of entertainment, dining and sporting activities just next to your
Home. Welcome to the DLF City Club. Brought to you by India’s largest real-estate
company, the club is designed by the renowned architect, Hafeez Contractor.
With a warm blend of Luxury and comfort, the Club is an ideal destination for the
corporate world and family outings
DLF CITY PHASE V, GURGAON, ON THE SOUTHERN BORDER OF NEW DELHI
*Rated as India's best Golf Course*
One of the landmark creations of DLF, it been ranked* as the best in the country and
amongst the best golf courses in Asia. The Arnold Palmer Signature Golf Course is
India's first Golf Course to offer night golf facility; the undulating greens light up in the
night to offer a tee off under the stars! In the day, the dramatic Aravali range offers a
magnificent backdrop to the 7204 yard, 18-hole, par-72 championship course.
Landscaped by internationally acclaimed architect Belt Collins, this beautiful parkland is
home to five sparkling lakes, meandering streams, variety of flora and fauna, and of
course world class fairways.
The Club House, designed in true colonial style, offers a lounge and locker rooms; a
well-stocked pro shop; a bar and restaurant; masseurs, steam and sauna; snooker and pool
tables, a delightful sun-deck with fabulous views of the landscape. The Sports Complex
comprises a 25 meter lagoon sized swimming pool, night-lit tennis courts, gymnasium,
squash courts, horse riding, basketball hoop, artistic and traditional yoga, aerobic classes,
kick-boxing and taekwondo.
The Course is complimented by the finest golf teaching academy offering the most
comprehensive golf lessons in the country. Golfers are bred here by top-notch pros
offering world class teaching technique and equipment.
It has played host to some of the most prestigious national and international tournaments
like Hero Honda Indian Open, BILT Skins, DLF Masters, DLF Women Indian Open and
the Johnnie Walker Classic.