Realty giant DLF Ltd is set to launch two upscale housing projects in Gurugram, with an investment of Rs 15,000 crore, during the latter half of the current fiscal year. Managing Director Ashok Kumar Tyagi shared that after the remarkable success of their new project ‘The Arbour,’ which sold flats worth Rs 8,000 crore in just three days, the company aims to achieve sales bookings of Rs 13,000 crore this fiscal year. The demand for luxury and mid-range residential properties remains robust, though affordable housing is facing challenges due to rising interest rates and housing prices.
Tyagi revealed that DLF’s launch pipeline for this year amounts to Rs 20,000 crore, primarily driven by projects in Gurugram’s Southern Peripheral Road and Golf Course Road areas. The upcoming projects are expected to yield around Rs 15,000 crore in sales bookings. The company plans to introduce a residential tower each in Moti Nagar (Delhi), Chandigarh’s Tricity area, and Mumbai.
DLF’s first-quarter sales bookings remained steady at Rs 2,040 crore due to the unexpected rapid sell-out of ‘The Arbour’ project. The company is also evaluating potential land deals in Gurugram and considering expansion into other markets like Delhi-NCR, Tricity, Chennai, Goa, and Mumbai.
Regarding Chairman Emeritus KP Singh’s sale of his equity shares in DLF, Tyagi clarified that the proceeds will be used to establish a charitable foundation. The realty firm reported a 12% increase in consolidated net profit for the first quarter of the current fiscal, reaching Rs 527 crore, while total income saw a slight uptick to Rs 1,521.71 crore.
DLF, India’s largest real estate company by market capitalization, has developed numerous projects spanning over 340 million square feet. With substantial development potential in both residential and commercial sectors, the company is poised to continue its growth trajectory.
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