From building exclusive commercial, retail and residential spaces to launching its own REIT, DLF has etched many success stories since its establishment. This blog tells about DLF's one such remarkable story of its CEO and chairman, Kushal Pal Singh (KP Singh), that changed the fate of Gurgaon forever overnight!
K.P. Singh was born on 15 November 1931. After graduating from Meerut College, Uttar Pradesh, he pursued aeronautical engineering in the UK. He was subsequently selected to the Indian Army by British Officers Services Selection Board, UK. He was commissioned into the Deccan Horse in 1951. As soon as American Universal Electric Company and DLF Universal Limited merged in 1979, he took over as managing director alongside Chaudhary Raghuvender Singh.
KP Singh is one of the few people who has made a significant impact through hard work, great vision, and a clear mission since his entry into DLF. He is the one who prominently transformed India's Gurgaon city from an isolated area to a full-fledged bustling commercial zone. How did he do that? It all happened with a mix of hard work, fortune, and a concrete goal.
This incident took place in the early 1980s.
KP Singh's chance encounter with Rajiv Gandhi
KP Singh was once crossing Haryana's deserted village, thinking of developing its 40 acres of land into a city. Rajiv Gandhi happened to pass by the route when suddenly his jeep halted at the site due to an engine breakdown. He got down from his jeep and asked for a water can from KP Singh to cool down his engine. Rajiv Gandhi asked KP Singh what he was doing in that area while he repaired his jeep.
Rajiv Gandhi was the Congress General Secretary back then. He used to pass through that route to visit his farmhouse in Mehrauli. KP Singh answered that he envisioned developing the entire village into a big city full of commercial and residential zones, today known as Gurgaon city. They both sat in that area for one and a half hours. In addition to sharing his vision with Rajiv Gandhi, KP Singh discussed his issues with government laws and how they prevented him from going forward with his plan. As of then, DLF Ltd needed more capital or a sizable business, making it difficult for the company to obtain bank loans.
Rajiv Gandhi was inspired by KP Singh's vision and became a close friend. Rajiv Gandhi asked KP Singh to present his vision of Gurgaon to him and Arun Singh at his office in New Delhi. Following several meetings, Gurgaon agreed to become a model city with significant participation from the private sector.
Developers soon received licenses, while they had to ensure that their projects would benefit the weaker sections of society. In April 1981, DLF Ltd was granted its first development license for 39.34 acres. Before starting his Gurgaon venture, KP Singh visited South Korea and Malaysia to learn about their development methods.
DLF Ltd received its first license in April 1981 for developing 39.34 acres. KP Singh visited South Korea and Malaysia to draw inspiration and gain knowledge from their development methods before starting his Gurgaon venture. The first big global company to lease office space in DLF City was General Electric in the 1990s. American Express, Nestle, and IBM joined DLF Ltd as tenants.
In 1975, KP Singh considered selling his DLF stake for mere Rs. 26 lakhs. He narrates an incident in his autobiography, where he says that in January 1975, he was about to sign the form for the transfer of shares of DLF. Nevertheless, he ultimately resisted and is now India's richest developer and billionaire.
It doesn't take long for chance encounters and incidents to shape fortunes, careers, lives, and trajectories to be dramatically changed. Kushal Pal Singh's magical and fascinating story is the stuff of legends!
