Real Estate

DLF ‘battle ready’ for the future: KP Singh

Our Burea New Delhi | Updated on June 05, 2020 Published on June 05, 2020

Representational image   -  BusinessLine

Company well-positioned to to take advantage of post-Covid opportunities

DLF is positioned to play a major role in the India growth story in the post Covid-19 world as the “undisputed leader” in the Indian real estate industry, its Chairman Emeritus KP Singh has said.

Describing DLF as already “battle ready” for the future, Singh said in an address to DLF Associates and employees on Friday that the “new normal” ushered in by the Covid-19 would be different from “what we have been practising so far” and “would require major changes in our mindsets in the way we live and the way we do our business now”.

Due to this unpredictable situation, only those companies that have abundance of youthful energy, innovative ideas and a striving passion for quality and excellence will thrive, he said. This calls for highly motivated team members with strong work ethics, professional integrity and a burning desire to be better than the best. Work culture will undoubtedly undergo a sea-change after recovery from the present coronavirus menace has been accomplished, according to Singh.

‘Learn to live with it’

“Personally, I do not believe Covid-19 will disappear in one go; it may somewhat follow the pattern of Spanish Flu — it will come, go and recur again and eventually settle down when a vaccine is successfully developed. We have to learn to live with it,” said Singh.

The economic upheavals which are bound to unfold after the recovery from the Covid-19 episode are unimaginable at this stage. However, one thing is certain — eventually recovery will happen, but when God only knows, he added.

Singh, who served as Non-Executive Director/Chairman of the company till June 4, 2020 tendered his resignation from that post. He has now been appointed as the Chairman-Emeritus.

“As you all know, I have travelled extensively and observed that the most successful companies are those which have adopted three basic mantras — productivity, customer satisfaction and rigid compliance of laws,” said Singh.

The reality is that a new and highly competitive business environment is emerging in India. Constant change will be the name of the game, he said. “For DLF to surge ahead, each one of you must consciously strive to be ahead of the curve, as a team and as individuals. Together, under the leadership of Rajiv Singh, you will face the new challenges and seize the new opportunities. A glorious future awaits us, particularly after the economic recovery from the ongoing Corona Virus has been achieved,” added Singh.

The DLF Board has also now approved the appointment of Rajiv Singh, son of KP Singh, as the new Chairman of DLF Ltd.

Published on June 05, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
Real estate likely to see uptick in second half of FY-21: Niranjan Hiranandani