Singh, Kushal Pal

Singh, Kushal Pal
▪ 2008

born Aug. 15, 1931, Bulandshahar, Uttar Pradesh, India

      In 2007 real-estate baron Kushal Pal Singh became India's second richest person following the wildly successful initial public offering (IPO) by his flagship property development firm, DLF Ltd., on July 5. The much-anticipated IPO raised 91.88 billion rupees (about $2.24 billion) through the sale of 175 million shares of stock and thereby made the offering India's largest-ever IPO. Singh, who with members of his immediate family controlled roughly 87% of DLF, saw a more than 50% increase in his net worth in the months following the IPO. By October, as DLF's stock price continued to soar, his wealth had grown to an estimated 1.29 trillion rupees (about $32.9 billion). Singh thus joined the Ambani brothers—business tycoons Mukesh and Anil—as India's only rupee trillionaires.

      After earning a degree in science from Meerut College, Singh studied engineering in the U.K. and then served as an officer in an elite cavalry regiment in the Indian army. He left the military in 1960 to join DLF, which had been founded in 1946 by his father-in-law, entrepreneur Chaudhary Raghvendra Singh. His father-in-law initially gave him assignments in the manufacturing field. One of Singh's early successes involved a joint venture with a U.S.-based firm to produce automotive batteries and electric motors in India.

      By 1979, however, Singh had set his sights on an ambitious plan to develop property in the small township of Gurgaon in mostly rural Haryana state. He envisioned transforming the area into a satellite city of nearby New Delhi and attracting international companies to establish operations there. He eventually acquired some 1,400 ha (3,500 ac) around Gurgaon, on which DLF constructed modern commercial and residential buildings. In the 1990s General Electric became one of the first major international corporations to lease space in the sprawling new hub known as DLF City. As India emerged as a top outsourcing destination, other well-known companies became DLF tenants, including American Express, British Airways, IBM, and Nestlé.

      Under Singh's leadership, DLF ultimately expanded its development projects far beyond Gurgaon. Money raised in the company's IPO was expected to help finance an array of building projects already under way across India. Despite fears among some experts and analysts of a property market crash, Singh was clearly bullish on the long-term outlook for India's real-estate industry. “You will need 100 DLFs,” he was quoted as saying. At the same time, he seemed increasingly willing to invest in fields other than real estate. In September DLF launched a bid to enter India's telecommunications industry, announcing its intention to apply for licenses to provide telecom services across the country.

Sherman Hollar

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Universalium. 2010.

Look at other dictionaries:

  • Kushal Pal Singh — est un chef d entreprise indien, patron du groupe Delhi, Land Finance, premier promoteur immobilier en Inde. Il est né le 15 août 1931 à Bulandshahar (Uttar Pradesh).. Il appartient au groupe des plus grandes fortunes du Monde. En 2010, sa… …   Wikipédia en Français

  • Kushal Pal Singh — or K.P. Singh was born on August 15, 1931, at Bulandshahar in Uttar Pradesh. Today he presides over DLF Universal Limited, India’s largest real estate developer. [ [ DLF ] ] It has an estimated land bank of… …   Wikipedia

  • Kushal Pal Singh — (* 15. August 1931 in Bulandshahar, Uttar Pradesh, Indien) ist ein indischer Unternehmer im Immobiliengeschäft. Er ist laut der Forbes Liste der Milliardäre mit einem Vermögen von 30 Mrd. USD im Jahre 2008 auf Platz 8 der reichsten Personen der… …   Deutsch Wikipedia

  • Singh — (Hindi/Panjabi: Löwe, Sanskrit: Siṃha) ist ein im indischen Raum weit verbreiteter Name, der insbesondere im Sikhismus als religiöser Nachname genutzt wird. Er wird von allen männlichen Sikhs getragen und soll die Verbunden und Gleichheit in der… …   Deutsch Wikipedia

  • Singh — est un nom de famille d origine indienne souvent assimilé aux Sikhs. Issu du mot sanskrit sinha, Singh signifie « lion ». On retrouve ce terme dans le nom de la cité État de Singapour, qui est « la ville du lion ». En Inde et… …   Wikipédia en Français

  • Nahar Singh — Raja Nahar Singh (राजा नाहर सिंह in Hindi) (1823–1858) was a King of the princely state of Ballabhgarh in Faridabad District of Haryana, India. His forefathers were Jats who had built a fort in Faridabad around 1739. He was involved in the Indian …   Wikipedia

  • DLF Universal Limited — Kushal Pal Singh (* 15. August 1931 in Bulandshahar, Uttar Pradesh, Indien) ist ein indischer Unternehmer im Immobiliengeschäft. Er ist laut der Forbes Liste der Milliardäre mit einem Vermögen von 30 Mrd. USD. im Jahre 2008 auf Platz 8 der… …   Deutsch Wikipedia

  • DLF Limited — Type Limited Traded as BSE: 532868 NSE:  …   Wikipedia

  • India — /in dee euh/, n. 1. Hindi, Bharat. a republic in S Asia: a union comprising 25 states and 7 union territories; formerly a British colony; gained independence Aug. 15, 1947; became a republic within the Commonwealth of Nations Jan. 26, 1950.… …   Universalium

  • Liste der Biografien/Sin — Biografien: A B C D E F G H I J K L M N O P Q …   Deutsch Wikipedia

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