DLF to Launch Rs 7500 Cr Premium Housing Projects in Gurugram
DLF Ltd plans to launch a luxury housing project in Gurugram with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project. DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore. DLF's sales bookings stood at Rs 4,544 crore in the year-ago period. The company has achieved robust growth in our sales bookings in the first nine months of this fiscal year. The sales are driven by demand for good quality products. The company has launched apartments and independent floors at different price points, which helped achieve better sales. DLF has launched residential projects in Delhi, Gurugram, Panchkula and Chennai this fiscal. Asked about sales bookings for the entire fiscal, Ohri said the company has given a guidance of Rs 8,000 crore for the 2022-23 fiscal and is expected to achieve it comfortably. "We are on track to meet our sales booking targets. We may even do better than that. But we are sticking to our guidance," he added. DLF achieved one of the highest quarterly new sales bookings of Rs 2,507 crore during October-December period, reflecting a year-on-year growth of 24 per cent. In its investors' presentation, DLF said it will give emphasis on offering customer-oriented product. The focus would remain on strong cash generation and margin accretion by offering quality products at established locations, DLF said. DLF on reported a 37 per cent increase in its consolidated net profit at Rs 519.21 crore for the quarter ended December 2022. Its net profit stood at Rs 379.48 crore in the year-ago period. Its total income, however, fell to Rs 1,559.66 crore in the third quarter of this fiscal year from Rs 1,686.92 crore in the corresponding period of the previous year. DLF has two verticals -- development business and rental business.
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