(December 14, 2023) Forbes Asia has recognised 15 leading philanthropists from the Asia-Pacific region in its 17th annual Heroes of Philanthropy list. These individuals have been acknowledged for their commitment to uplifting society through generous donations to significant causes. Kushalpal Singh, the chairman emeritus of DLF is one of the names on the list.
Popularly known as KP Singh, the leader is globally known for his visionary business acumen. He has played a pivotal role in DLF’s growth and transforming Gurgaon into a thriving tech city. The 92-year-old is based in Dubai and London and has a total net worth of $14.3 billion.
In 2020, KP Singh stepped down from the post DLF chairman and sold some of his shares, making $89 million. According to Forbes, this money will be used by the philanthropist for charity through the KP Singh Foundation trust.
From army to business
KP Singh was born in 1931 in Bulandshahr, UP. His father, Chaudhary Mukhtar Singh, was a famous lawyer. KP Singh studied in Meerut and then went to the UK to pursue aeronautical engineering. After coming back, in an unconventional choice of profession for a person having earned a degree abroad, Singh joined the Indian Army. In 1961, after a few years of service, he joined DLF Limited which was established by his wife’s father, Chaudhary Raghvendra Singh in 1946.
KP Singh
DLF’s growth
DLF has constructed several residential neighbourhoods in Delhi, such as Model Town, Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash, Kailash Colony, and Hauz Khas. Its projects encompass residential, office, and retail properties as well.
After the Delhi Development Act got passed in 1957, the local government took charge of real estate development and prohibited private real estate developers from operating within Delhi. As a result, DLF began procuring land at relatively lower costs outside the Delhi Development Authority’s jurisdiction, specifically in the Gurgaon district, and by the mid-1970s, the company initiated the development of the DLF City project in Gurgaon, which involved hotels, infrastructure, and endeavours related to special economic zones.
KP Singh’s legacy
Under Singh’s visionary leadership, the company’s IPO in July 2007, amounted to US$2 billion, marking India’s largest IPO ever. In 2017, DLF sold part of its rental business for $1.9 billion to GIC, Singapore.
In 2020, after six decades of good work, KP Singh stepped down as DLF chairman. His son Rajeev now runs the company.
