K. P. Singh now takes the telecom route...
From escaping the military academy to setting
up a real estate empire with DLF, he has created history of sorts. The latest buzz is about K. P. Singh’s foray into the booming telecom sector. Though the company refused to confirm the news, sources revealed that DLF is on the verge of approaching the Department of Telecommunications (DoT) for a unified access service (UAS) licence for telephone services.
But this is not DLF’s first foray outside its core business of real estate. To strengthen his hold on the future, Singh has been diversifying his business interests for some time now and DLF Universal is already present across six business verticals. “While the construction of home, retail and commercial complexes represent the traditional business of the DLF Group, three new business verticals – hospitality, SEZs and infrastructure – embody the group in the new millennium,” explains Shalini Wadhwa, GM-Corporate Comm., DLF Ltd.. For now, housing as a core business, contributes about 30% of DLF’s revenues; commercial properties 20-25%; and retail another 20-25%. SEZs are predicted to become the group’s biggest business after four years.
In the hospitality sector, upcoming JVs entail investments of hundreds of millions of dollars by foreign partners that include names like Hilton, Mariott and Four Seasons. DLF, on its own, is mulling investments of $700-800 million in a few select hospitality properties over the next seven years. Plus the real estate major already has approvals from the government for its SEZ projects in Punjab & Haryana, while in infrastructure, DLF has inked a 50:50 JV with $5 billion with the UK based Laing O’Rourke.
Singh’s telecom ambition announcement is expected some time in October. But a glance at his entrepreneurial journey and it comes as no surprise that this tycoon has already staked his claim as India’s third trillionaire, after the Ambani brothers.
For Complete IIPM Article, Click on IIPM ArticleFrom escaping the military academy to setting
up a real estate empire with DLF, he has created history of sorts. The latest buzz is about K. P. Singh’s foray into the booming telecom sector. Though the company refused to confirm the news, sources revealed that DLF is on the verge of approaching the Department of Telecommunications (DoT) for a unified access service (UAS) licence for telephone services.But this is not DLF’s first foray outside its core business of real estate. To strengthen his hold on the future, Singh has been diversifying his business interests for some time now and DLF Universal is already present across six business verticals. “While the construction of home, retail and commercial complexes represent the traditional business of the DLF Group, three new business verticals – hospitality, SEZs and infrastructure – embody the group in the new millennium,” explains Shalini Wadhwa, GM-Corporate Comm., DLF Ltd.. For now, housing as a core business, contributes about 30% of DLF’s revenues; commercial properties 20-25%; and retail another 20-25%. SEZs are predicted to become the group’s biggest business after four years.
In the hospitality sector, upcoming JVs entail investments of hundreds of millions of dollars by foreign partners that include names like Hilton, Mariott and Four Seasons. DLF, on its own, is mulling investments of $700-800 million in a few select hospitality properties over the next seven years. Plus the real estate major already has approvals from the government for its SEZ projects in Punjab & Haryana, while in infrastructure, DLF has inked a 50:50 JV with $5 billion with the UK based Laing O’Rourke.
Singh’s telecom ambition announcement is expected some time in October. But a glance at his entrepreneurial journey and it comes as no surprise that this tycoon has already staked his claim as India’s third trillionaire, after the Ambani brothers.
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
