Why the heck not? DLF chairman emeritus KP Singh seems to have lived by this maxim, using it as an apt title for his new book as well. Sitting dapper at the book’s launch on Thursday, the real estate baron is ready for an evening king-size, complete with a police band.
His life and work have been that as well in magnitude, and as his company, DLF, is set to launch the country’s costliest residential project, The Dahlias in Gurugram (at Rs 80,000 per square feet), does he look back in satisfaction at the legacy he has created? “My legacy is to be better than the best, and that is how I have shaped my company,” he said in an exclusive interaction.
Credited to be the man behind Gurugram, Singh, however, regrets in the book that Gurugram’s civic infrastructure has not kept pace with its glitzy towers. Asked if the millennium city would have looked different had he had the political powers of a Partap Singh Kairon (who is credited with building Chandigarh), Singh said: “Yes, definitely. We need to look at the next hundred years when planning urban development. But unfortunately, that hasn’t happened in India. Immediately after Independence, we were inspired by Russia, and thought small, making up for shortages. Nobody thought ahead that India will be on its way to becoming the third-largest economy.”
He added that the private sector was discouraged, and even farmers were not compensated for their land adequately, which he said, was set right by a Supreme Court ruling that farmers have to be paid market prices for their land.
Writing that he found DDA construction in Delhi to be myopic and ignorant of the future, one wonders if Gurugram hasn’t been over-ambitious in contrast, given that the high rises lack even the basics of sewerage, drainage, roads, etc. Singh agreed, saying, “In Gurugram’s case, we had big plans, including a 16-lane highway connecting it with Delhi. But unfortunately, the state government changed and scrapped our plans, and Rajiv Gandhi, who was very interested in the project, was assassinated. As a result, the vision for the city was not realised.”
Controversy and realty are bedfellows, and DLF has been no different. The Panama Papers and accusations of fraud in land deals with Robert Vadra have been tough phases for the real estate player. Singh has brushed aside the Panama Papers issue in the book, saying: “Every time there is a case against me, or when someone accuses me of breaking the law, I can prove them wrong. Even when the Panama Papers scandal broke, I openly and publicly declared how I had legally transferred my money abroad within the law to my offshore accounts. I work within Indian law, and I have knowingly never broken it.” However, he remains mum on Vadra.
At the same time, DLF has managed a clean image in contrast to many other realty players embroiled in controversy and winding up in the National Company Law Tribunal or even jail. Singh attributes this to doing business within the framework of regulations. His message to others: “Follow the rules. Instead of bribing, try to lobby for change in policy. Bureaucrats and politicians will listen and agree if you talk logic.”
And, what is the most important mantra to run a business successfully? Singh answered: “Compliance with laws, paying all taxes, not cutting corners in business and, most importantly, upholding ethics and moral values.”
Was he ever invited to join politics? “Yes, of course. But I was given advice by my father-in-law that either run a business or be a politician. You can’t do both. I chose my business despite being very tempted.”
And his biggest achievement: “Winning the confidence of farmers when I acquired their land. There has not been a single litigation against DLF over this, and that’s a feat by itself.”