DLF Chairman Rajiv Singh Paid Rs 27.3 Crore As Remuneration For FY24
In the preceding financial year, Singh had received Rs 19.77 crore as remuneration.
Realty major DLF's Chairman Rajiv Singh has received Rs 27.30 crore as remuneration for 2023-24, up 38% year-on-year, according to the company's latest annual report.
According to a list of remuneration paid/payable to directors/key managerial personnel in 2023-24, contained in the annual report, in the preceding financial year, Singh had received Rs 19.77 crore as remuneration.
In the latest GROHE-Hurun list released recently, the 65-year-old Singh is the richest real estate entrepreneur, having a wealth of Rs 1,24,420 crore. Among real estate firms, DLF secured the top spot with a valuation of Rs 2 lakh crore.
According to the annual report, DLF's Managing Director and Chief Financial Officer Ashok Kumar Tyagi has received Rs 13.52 crore as remuneration for 2023-24, which is 27 per cent higher than Rs 10.64 crore in the preceding year.
The remuneration of Devinder Singh, Managing Director of DLF, is Rs 13.52 crore for the last fiscal compared to Rs 10.74 crore in 2022-23.
Ashok Kumar Tyagi and Devinder Singh became Managing Director with effect from August 4, 2023.
Tyagi was appointed as the company's CFO with effect from May 13, 2024, in addition to his existing role and responsibilities as the managing director.
DLF's annual report stated that according to the policy, the company pays remuneration to its executive eirectors by way of salary, benefits, perquisites and allowances (fixed component) and commission (variable component).
Annual increments are approved by the board of directors, based on the recommendations of the nomination and remuneration eommittee.
Based on the recommendations of NRC, the board decides the commission payable to the executive directors and non-executive directors, out of the profits of the company within the ceiling as prescribed.
DLF is the country's largest real estate firm in terms of market capitalisation.
It has developed more than 158 real estate projects and an area of over 340 million sq. ft..
DLF Group has 215 million sq. ft. of future development potential across residential and commercial segments.
It has an annuity portfolio of over 44 million sq. ft., with an annual rental income of more than Rs 4,000 crore.
DLF's consolidated revenue (including other income) grew to Rs 6,958 crore in 2023-24, delivering a 16% growth year-on-year.
Its total comprehensive income witnessed a robust year-on-year growth of 33 per cent and stood at Rs 2,730 crore during the last financial year.
On the operational front, DLF has achieved strong sales bookings during the last two financial years, driven by a significant surge in demand for its luxury homes.
In 2022-23, it clocked a record sales of Rs 15,058 crore, while the company reported a sales of Rs 14,778 crore in 2023-24.
For the current fiscal (2024-25), DLF has set a 15% growth target in sales bookings at Rs 17,000 crore, as it plans to launch many luxury housing projects across Gurugram, Goa and Mumbai.
