DLF, India’s largest realty company, has consolidated all its real estate verticals under two divisions as part of a restructuring exercise aimed at leveraging synergies and imparting greater customer focus.
The company till now had six verticals in the real estate division : retail, offices, commercial, homes, SEZs and hotels. Now, the retail, offices, IT parks and SEZ verticals will form part of the rental division, headed by A S Minocha, chairman of DLF Commercial Developers. The homes and commercial complex verticals will move to sale division headed by the MD of the company TC Goyal.
Confirming the development, DLF group CFO Ramesh Sanka, told ET NOW: 'We have aligned some of our departments such that we could improve operational efficiency of the company'. Sanka added that this is only an operational restructuring with no plans of job reduction. In 2008-09 , the company reduced its employee strength from 3700 to 2882.
Times of India
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