DLF, a prominent real estate firm, intends to sell property projects worth Rs 197 billion by March of next year. Due to robust demand for housing, the company expects to book sales of roughly Rs 120 billion in the current fiscal year.
DLF reported a more than two-fold increase in sale bookings in the last fiscal year, reaching a record Rs 150 billion, up from Rs 72 billion the previous year.
The company earned Rs 80 billion from “The Arbour,” a luxury home project inaugurated in Gurugram during the March quarter.
DLF has planned an aggressive launch pipeline for 2023-2024, with a sales revenue potential of Rs 197 billion and an area of 11.2 million square feet.
The housing industry would be the focus of the majority of the projects launched this fiscal year in Delhi-NCR and Chennai. Last year, the company released 10 million square feet costing Rs 146 billion.
DLF is India’s largest real estate firm in terms of market value. It has completed more than 153 real estate projects totaling over 330 million square feet.
The Development Business (residential property development and sale) and the Annuity Business (commercial and retail property development and leasing) are DLF’s core businesses.
The company’s annuity portfolio totals 40 million square feet. The corporation has the potential for 215 million square feet of residential and commercial development.
Source-ET
