The Hindu Business Line : DLF to firm up price band by mid-June

For the purpose it has sent out eight expert teams of analysts to meet, on an average, around 80-90 investors each to gather feedback on what the price band should be, Mr Rajiv Singh, Vice-Chairman of DLF Group, said in an interaction with the media.

Not flustered by the recent volatility of the market, Mr Singh said that he expected the markets to stabilise in late June or early July when the company's IPO is slated. He does not expect the volatility to impact the DLF IPO as he said pricing was based on economic fundamentals and the economy was going strong. On the apprehensions of a real estate bubble, he said: "Any run up tends to be sharp. The rise in prices during the last 18 months may have been disproportionate but over time it will stabilise."

New sectors

The company was focussing on hotels, SEZs and urban infrastructure as the new sectors in the real estate business, he said. He felt that in the next five to ten years they too may become as big as the three existing sectors — homes, offices and shopping malls. Identifying hotels as a promising sector, he said that here the company would choose to partner with people who have skills that DLF lacks.

It was already in talks with well-known hotel chains to develop the business and the company was in the process of acquiring land across the country for the purpose. "Only after the IPO will we be revealing the details of our strategy... We hope to be present in all the major holiday resorts and tourist destinations across the country in the future," he said.

Regarding the company's road forward, in terms of organic and inorganic growth, he said DLF had no plans to acquire any real estate company but in due course of time "we may take stake in businesses which bring benefit to the table."

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