He is Kushal Pal Singh who made Gurgaon out of nonexistence. He saw the city when it was falling down under its feet. For Rs. 26 Lakh only, he almost sold his company DLF. Later on, he witnessed the value of his shares climbing to Rs. 1,87,920 Cr. Today, it has been declined to around Rs. 14,701 Crores. But he brought biggest IPO of India in the year 2007. Sebi was condemned him because he was failed to unveil the material details and he has witnessed both of his foes and friends occupying high prices about 7 years later.
An experienced investment banker Hemendra Kothari said that he is one of the first who wanted to develop a plus-size high-end building which is great like in any developed nations. Today, questions regarding cash flow are being made regarding his real estate projects. As the title of “Whatever the Odds” his autobiography suggests, his ride is neither too simple nor too smooth. According to senior research analyst ASV Krishnan from Ambit Capital, it is shown that he has cut the corners Meet DLF’s KP Singh – Who Made Gurgaon from Nothing to Something.
When he arrived in Gurgaon in the late 1970s, nobody was thought that this city would be developed so well that it will compete with other mega cities in the next couple of decades. The perseverance, intent and good fortune played a great role in developing this city. He also got an opportunity to meet Rajiv Gandhi and he partnered with farmers to acquire land.
The enormous open scenery of barren land has now become a modern and futuristic city Gurgaon. He had foresight and aim to witness a world-class metropolis, according to a realty developer who was also following DLF for several years. In 1989, KP Singh persuaded General Electric to the country and gave birth to BPO industry. Foreign companies were hesitating for investing in India at that period.
But he successfully escorted General Electric and opened its main office in Gurgaon. Later, this city has become the hub of several IT and multinational companies like American Express, Nestle, IBM, PepsiCo, British Airways, IBM and Ericsson.
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