Real estate giant DLF intends to introduce around 37 million square feet of space for sale in the next year across multiple locations, with a potential income of 1.04 lakh crore. This is part of their strategy to capitalize on the robust demand for opulent residences.
DLF said that it had “planned launches of more than 1 lakh crore (36 million square feet) of new projects over the medium term” in its most recent investor presentation for the April-June quarter.
After providing the breakdown, the business stated that a 12.8 million square foot area with a ₹42,000 crore revenue potential will be introduced for sales this fiscal year.
DLF Plans To Launch Projects In Delhi, Gurugram, Mumbai, And Goa
DLF plans to start construction on 24 million square foot area with a consolidated development value of 62,500 crore in the coming years.
Only 1,000 crore of the 1,04,500 crore in projects it plans to launch in the long term are related to commercial properties; the remaining ₹1,000 crore is related to the housing projects.
The primary launch locations for these projects, which are mostly residential, are Delhi, Gurugram, Chandigarh Tri-city, Mumbai, and Goa.
Delhi NCR Continues To Be Its Primary Market For DLF
DLF stated in the presentation that it is creating items that will increase margins and that it is expanding the range of products it offers.
Although the organization is expanding into other regions, Delhi NCR continues to be its primary market. This fiscal year, it plans to join the Mumbai market.
Due to the robust demand for homes, DLF’s sales bookings increased by more than three times to ₹6,404 crore in the first quarter of current fiscal year compared to ₹2,040 crore in the same period last year.
As opposed to around ₹15,000 crore the year before, DLF has guided that sales bookings for the whole 2024–25 fiscal year will total ₹17,000 crore.
DLF Privana West Gurugram Drove Sales Booking Of 5600 Crore
The premium property ‘DLF Privana West’ located in Sector 76/77, Gurugram, drove the company’s sales bookings during the April-June quarter, with sales of ₹5,600 crore.
At DLF 5, Gurugram, the company’s ultra-luxury home project “The Camellias” sold four apartments for more than 251 crore. DLF said that its consolidated earnings for the first quarter of current financial year increased by 23% to ₹645.61 crore from ₹527 crore in the same time last year.
From ₹1,521.71 crore in the equivalent period of the previous year to ₹1,729.82 crore during the April-June period of current fiscal, total income increased.
DLF Has Strong Pipeline In Gurugram, Mumbai And Goa
“We believe that the residential segment is witnessing a structural upcycle, so we continue to strengthen our upcoming product pipeline,” DLF stated in a recent statement.
“We stay committed towards leveraging this positive momentum and have planned a strong launch pipeline of an additional 9 million square feet of new products during the current year, across various segments and areas including Gurugram, Mumbai, Goa and Chandigarh Tri-city,” DLF said.
According to the firm, its net cash position is still improving as a result of robust increase in collections and steady sales momentum. DLF is the top real estate developer in India with more than 70 years of rich experience.
DLF Group Deals In Both The Residential And Commercial Sectors
It has created an area over 349 million square feet and more than 178 real estate developments.220 million square feet might be developed by DLF Group in both the residential and commercial sectors.
The company has more than 44 million square feet of commercial and retail real estate in its annuity portfolio.
DLF’s main business ventures are the development and sale of residential real estate (the Development Business) and the development and leasing of retail and commercial real estate.
Source-ET
