DLF to Launch 35 Million Square Feet Area in Medium Term
Bullish on demand for residential and commercial properties, Realty major DLF Ltd has identified a robust pipeline of new projects and will launch 35 million square feet area in medium term with a sales potential of around INR 40,000 crore. In an analyst presentation, DLF mentioned that nearly 8 million square feet will be launched during the second half of the current fiscal. To scale up its business, the company said: "Around 35 million square feet of new products planned in medium term." These projects will be launched at established locations with infrastructure in place. "Diversified Offerings: Quality products across multiple categories catering different target segments and multiple locations," it said. According to the launch calendar, DLF has already launched 2 million square feet till September this year out of planned 35 million sq ft in medium term. During the second half of this fiscal, it is targeting to launch 7.7 million square feet of projects. The launch pipeline for 2022-23 and 2023-24 financial years stands at 6.4 million square feet and 7.2 million square feet. The remaining 12.2 million square feet will be launched beyond FY'24. In a statement DLF's CEO Ashok Kumar Tyagi had said, "We are encouraged by the rising housing sales and improving consumer sentiments across segments and remain committed to bringing new offerings to the market." We believe our quality offerings across our completed inventory, growing new product pipeline coupled with a fortified balance sheet has placed the company in a unique position to scale up and leverage this growth cycle," he said. DLF has so far developed 153 real estate projects and developed an area of approximately 330 million square feet.
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