Date:07/06/2007 URL: http://www.thehindu.com/2007/06/07/stories/2007060721160400.htm

Karnataka - Bangalore

DLF to build 10,000 flats

Staff Reporter

To construct mall, two residential complexes

Housing projects to come up at Bannerghatta Road and Electronics City

Company to enter the capital market on June 11

Bangalore: Real estate giant DLF Limited will be making its presence felt in Bangalore with two large residential complexes and a two million sq ft mall.

Speaking to presspersons on the sidelines of a conference to announce DLF's initial public offer (IPO), A.S. Minocha, Chairman, DLF Commercial Developers Limited, said that land had been acquired on Bannerghatta Road and in Electronics City for housing projects. Construction will be completed in five years.

DLF is to develop 80 acres of land on Bannerghatta Road with a complex of 3,000 flats. Electronics City will have 120 acres of land developed with 7,000 flats.

The construction will begin in about four months and investments for these two complexes will be Rs. 3,000 crore.

Mr. Minocha said that construction had begun on the mall in Whitefield, which would be completed in two years. The mall-cum-hotel is a joint venture with Hilton Hotels, the investment for which is Rs. 1,200 crore.

DLF which has developed 3,000 acres of land in New Delhi has a growing presence in south India, with SEZ projects in Hyderabad and Chennai. It will enter the capital market on June 11, with an IPO of 175,000,000 equity shares of Rs. 2 each, of which 1,000,000 shares will be reserved for employees. The price band has been fixed at Rs. 500 to Rs. 550 per equity share. The issue closes on June 14.