DLF To Launch Properties Worth Rs 80,000 Cr Over Next 3-4 Years
Realty major DLF plans to launch properties worth nearly Rs 80,000 crore over the next 3-4 years to tap rising demand for housing and commercial projects. DLF, the country's largest real estate firm in terms of market cap, sold properties worth Rs 15,000 crore during 2022-23 and is set to surpass this number in the current fiscal going by sale bookings clocked in the first three quarters. According to an investors' presentation, DLF is aiming to launch 10 million square feet of area in the next financial year having revenue potential of Rs 32,000 crore. It has also identified another 22 million square feet area with an estimated revenue of Rs 46,850 crore for the 2024-25 fiscal and beyond. Most of the projects to be launched for sale over the next 3-4 years would be residential and that too in luxury and ultra-luxury segments. Delhi-NCR, Mumbai, Goa, and Chennai would be the focus area of the company. DLF's plan to scale up its residential business comes against the backdrop of a sharp rise in demand after the second wave of the COVID-19 pandemic in 2021. Housing demand in primary (first sale) markets of major cities has been very strong. The demand is also getting consolidated towards those players who have a good track record of delivering projects to customers. Riding on this surge in demand, DLF's sale bookings doubled annually to Rs 13,316 crore during the first nine months of this fiscal. During the April-December period of the previous fiscal, the company's sale bookings stood at Rs 6,599 crore. The company reported more than three-time increase in sales booking to Rs 9,047 crore in the December quarter as against Rs 2,507 crore in the year-ago period. This is the highest quarterly sales booking achieved by the company. DLF has around 215 million square feet of development potential across residential and commercial segments. The group has an annuity portfolio of over 42 million square feet.
Tags : DLF development potential residential commercial segments