While we read about M.P. Lodha in our last blog, this time let’s delve into the life of another real estate magnate who is known across the country — Rajiv Singh, from DLF.
Rajiv Singh is currently the Vice Chairman of DLF. In terms of revenue and market capitalization, DLF is India’s biggest real estate company. Under the company’s portfolio, 425 million sq. ft. of development is spread across developed, ongoing, and planned projects.
DLF was founded in 1946. Rajiv Singh’s father, Dr. Kushal Pal Singh, took over the reins from his father-in-law and created the biggest real estate company after decades of hard work. Dr. Kushal Pal Singh resigned as the Director on 4th June 2020 to make way for his son.
The former Director has this to say about the transition, “I am grateful to all our stakeholders and particularly to our customers without whose confidence, trust, and faith, DLF would not have tracked its glorious path of success. My sincere thanks to the Board of Directors and the DLF family, without whom we would not have achieved record milestones year after year for decades. As we move into a new India that is transforming at an incredible pace, I am confident DLF will continue to contribute to national growth under the leadership of Rajiv Singh.”
The faith shown in Rajiv Singh by the Board of directors and his father is well-founded. He has been working with the company for most of his life and understands how the DLF engine functions. Under his father’s tutelage, his deep knowledge helps him appreciate the company roots while having the foresight to keep evolving with the world and constantly shifting trends.
Few points to note about Rajiv Singh:
- He was born in the year 1958.
- He has more than 35 years of experience in the real estate market.
- Under his guidance, the company’s annuity business scaled from INR 15 million in 2007 to a whopping INR 29,000 million in 2019.
- He is a graduate of the Massachusetts Institute of Technology, U.S.A., and holds a degree in Mechanical Engineering.
- In December 2005, he was awarded the “Udyog Ratna” award for his tremendous contributions to Haryana’s development.
Rajiv Singh’s estimated salary is rumoured to be INR 54,266,000. Keeping the family business theme consistent, his wife Kavita has been part of DLF since 2002 and was officially brought on as an advisor to DLF Universal Ltd. in 2011. Her retainer at the time was estimated to be INR 250,000 per month, which excluded other bonuses and perks.
Rajiv Singh’s two daughters work in the family business as well. Savitri is the company’s mall division’s business head, while Anushka takes care of DLF Phase V Homes. Their grandfather has very proudly expressed on multiple occasions that they are very capable young women and will pave the future for DLF.
Only time will tell how DLF will shape up and if Rajiv Singh’s daughters will rise to the occasion, breaking through the family business’s patriarchal ceiling. What do you think?