New Delhi, July 26 (PTI) Realty major DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities with revenue potential of ₹1.04 lakh crore as part of its strategy to encash strong demand for luxury homes.
In its latest investor presentation for the April-June quarter, DLF informed about the “planned launches of ₹1 lakh crore (36 million square feet) of new products over the medium term”.
Giving the break-up, the company said a 12.8 million square feet area will be launched for sales this fiscal with a revenue potential of ₹42,000 crore.
In the subsequent years, DLF intends to launch a 24 million square feet area having a gross development value of ₹62,500 crore.
Out of the total ₹1,04,500 crore worth projects that it intends to launch in medium term, only ₹1,000 crore worth is planed from commercial properties and the remaining from the housing segment.
These projects, largely residential, will be launched primarily in Delhi, Gurugram, Chandigarh Tri-city, Mumbai and Goa.
Also Read: DLF profit up by 23% to ₹645.61 crore in Apr-June quarter
DLF said in the presentation that it continues to scale up its product offerings and is developing margin-accretive products.
The company is tapping multiple geographies but the core market remains Delhi NCR. It intends to enter the Mumbai market this fiscal.
On strong housing demand, DLF’s sales bookings jumped over three-fold to ₹6,404 crore during the first quarter of this fiscal as against ₹2,040 crore in the year-ago period.
DLF has given guidance to achieve ₹17,000 crore worth of sales bookings for the entire 2024-25 financial year as against nearly ₹15,000 crore in the preceding year.
Also Read: DLF to launch real estate projects with ₹36,000 crore sales potential in Gurugram, Mumbai and Goa this year
The company’s sales bookings in the April-June quarter were driven by its luxury project ‘DLF Privana West’ at Sector 76/77, Gurugram that saw sales of ₹5,600 crore.
In its super-luxury housing project ‘The Camellias’ at DLF 5, Gurugram, the company sold 4 units for ₹251 crore.
On Thursday, DLF reported a 23 per cent increase in its consolidated profit to ₹645.61 crore in the first quarter of this fiscal from ₹527 crore in the year-ago period.
Total income rose to ₹1,729.82 crore during the April-June period of this fiscal from ₹1,521.71 crore in the corresponding period of the previous year.
In a statement on Thursday, DLF said, “We believe that the residential segment is witnessing a structural upcycle and hence we continue to strengthen our new product pipeline.”
“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 fiscal, across various segments and geographies including Gurugram, Mumbai, Goa and Chandigarh Tri-city,” the company added.
The company said it continues to witness healthy sales momentum and strong growth in collections leading to further improvement in its net cash position.
DLF is India’s leading real estate developer and has more than seven decades of track record.
It has developed more than 178 real estate projects and developed an area in excess of 349 million square feet.
Also Read: Is capital appreciation the key motivation for rich real estate investors to buy luxury properties?
DLF Group has 220 million square feet of development potential across residential and commercial segments.
The group has an annuity portfolio (office and retail real estate spaces) of over 44 million square feet.
DLF is primarily engaged in the business of developing and selling residential properties (Development Business) and developing and leasing commercial and retail properties (Annuity Business).
