DLF Chairman Rajiv Singh Sees 38% Hike in Remuneration for 2023-24

Realty firm DLF's Chairman Rajiv Singh received a 38% increase in remuneration, rising to Rs 27.30 crore for 2023-24. Singh is also the richest real estate entrepreneur with a wealth of Rs 1,24,420 crore. DLF, the top real estate firm, aims for 15% growth in sales bookings for 2024-25.

DLF Chairman Rajiv Singh has received Rs 27.30 crore as remuneration for 2023-24, marking a 38 per cent rise year-on-year, as per the company's latest annual report.

The annual report lists that Singh, the whole-time director of DLF, received Rs 27.30 crore last fiscal compared to Rs 19.77 crore in the previous year.

Recently, the GROHE-Hurun list declared the 65-year-old Singh as the richest real estate entrepreneur with a wealth of Rs 1,24,420 crore. DLF leads among real estate firms with a valuation of Rs 2 lakh crore.

DLF's Managing Director and CFO, Ashok Kumar Tyagi, received Rs 13.52 crore for 2023-24, a 27 per cent increase from Rs 10.64 crore. Devinder Singh, another Managing Director, received Rs 13.52 crore compared to Rs 10.74 crore in 2022-23. Both Tyagi and Devinder Singh assumed their roles in August 2023.

In May 2024, Tyagi will also assume the role of CFO. The report reiterated that DLF follows stringent policies, with remuneration including fixed (salary, benefits, allowances) and variable (commission) components.

DLF remains the top real estate firm by market capitalisation, having developed over 158 projects totaling 340 million square feet and possessing an annuity portfolio generating annual rental income exceeding Rs 4,000 crore. Its total income grew by 33 per cent to Rs 2,730 crore in 2023-24.

DLF set a 15 per cent sales growth target for 2024-25, aiming for Rs 17,000 crore through luxury housing projects in Gurugram, Goa, and Mumbai.

(With inputs from agencies.)