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DLF Limited, a real estate giant, plans to launch a luxury housing project in Gurugram next month, with an estimated sales revenue of around 7,500 crore, in order to capitalise on strong demand for high-end apartments.
DLF Group Executive Director and Chief Business Officer Aakash Ohri told that the company intends to build around 1,100 apartments in this residential project.
“The real estate projects are in high demand at all segments, particularly in case the products were offered by the reputed developers,” he added.
DLF achieved a 45 percent increase in sales bookings to 6,599 crore during the April-December financial period and is on track to meet its annual sales guidance of 8,000 crore. DLF’s sales bookings were 4,544 crore in the previous year.
“In past nine months (April-December) of the year 2022, we experienced strong growth in new sales bookings. Demand for high-quality products drives sales “Ohri stated. He stated that the company has launched apartments and independent floors at various price points, which has contributed to increased sales.
DLF has begun construction on residential projects in Delhi, Gurugram, Panchkula, and Chennai in this financial year.
When asked about sales bookings, Ohri stated that the company has set a target of 8,000 crore for the financial year 2023 and expects to meet it comfortably.
We are on the way to meet our expected sales booking goals. We might even outperform that goal because we are sticking to our guns.
The premium housing demand is extremely high. DLF had one of the highest quarterly new sales bookings of 2,507 crore during the October-December period, representing a 24 percent year-on-year growth.
DLF reported a 37% increase in its consolidated net profit to Rs 519.21 crore for the quarter ended December 2022. In the previous financial year, its net profit was Rs 379.48 crore.
Source- The Hindu