"DLF has appointed construction major L&T Construction as general contractor to build the luxury residential development," the company said in a statement. "The total contract is valued at approximately Rs 1,337 crore and is in line with DLF's philosophy of associating with reputed national and international construction giants for development of its new projects," DLF said.
The real estate major had decided to outsource the construction jobs to third parties for expediting the deliveries of its projects across the country. L&T's scope of work includes construction, civil, structural, finishes, MEP (Mechanical, Electrical, and Plumbing), external services, landscaping and all ancillary works associated with The Crest.
DLF had posted a net profit of Rs 711.92 crore and a total income of Rs 7,772.84 crore in the 2012-13 fiscal. Earlier, DLF had appointed MACE Group as consultant for project management.
MACE is a global consultancy and construction firm, offering integrated services and is involved in the delivery of iconic projects like the London Eye, Heathrow Airport T5, and 2012 London Olympic Games, among others. "The Crest is a next generation luxury project by DLF and hence the systems, construction techniques and project management practices are benchmarked as per the highest international standards," DLF Projects CMD Ravi Kachru said.
On the project site, the company would provide other facilities like setting up a state-of-the-art labour camp, ambulance & doctor on call, RO water for drinking purpose and overall hygienic conditions for the workers at site.
On October 21, 2013, DLF closed at Rs 165.95, up Rs 8.80, or 5.60 percent. The 52-week high of the share was Rs 289.20 and the 52-week low was Rs 120.25.
The company's trailing 12-month (TTM) EPS was at Rs 1.60 per share as per the quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 103.72. The latest book value of the company is Rs 0.00 per share. At current value, the price-to-book value of the company was 0.00.
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