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Aug. 15, 1931, Bulandshahr, Uttar Pradesh, India
Kushal Pal Singhis an Indian businessman who transformed Delhi Land & Finance Limited (DLF) into one of India’s largest real-estate development firms.
After earning a degree in science from Meerut College, Singh studied engineering in the United Kingdom and then served as an officer in an elite cavalry regiment in the Indian army. He left the military in 1960 to join DLF, which had been founded in 1946 by his father-in-law, entrepreneur Chaudhary Raghvendra Singh. His father-in-law initially gave him assignments in the manufacturing field. One of Singh’s early successes involved a joint venture with a U.S.-based firm to produce automotive batteries and electric motors in India.
By 1979, however, Singh had set his sights on an ambitious plan to develop property in the small township of Gurgaon in mostly rural Haryana state. He envisioned transforming the area into a satellite city of nearby New Delhi and attracting international companies to establish operations there. He eventually acquired some 3,500 acres (1,400 hectares) around Gurgaon, on which DLF constructed modern commercial and residential buildings. In the 1990s General Electric became one of the first major international corporations to lease space in the sprawling new hub known as DLF City. As India emerged as a top outsourcing destination, other well-known companies became DLF tenants, including American Express, British Airways, IBM, and Nestlé.
Under Singh’s leadership, DLF ultimately expanded its development projects far beyond Gurgaon, building apartments, shopping malls, and hotels. In 2007 he oversaw DLF’s much-anticipated initial public offering, which raised 91.88 billion rupees (about $2.24 billion) through the sale of 175 million shares of stock. Singh, with members of his immediate family, maintained a controlling interest in DLF.
