Realty major DLF Ltd will launch a mix of luxury and premium residential projects in its core market Gurugram, and enter new property markets such as Mumbai and Goa this fiscal year. It will also launch a commercial project in Gurugram.
The company has increased its project launch guidance to 12.8 million sq. ft in 2024-25 with sales potential of ₹42,000 crore, as the real estate developer continues to see strong demand momentum.
DLF had earlier planned to launch 11.6 million sq. ft of projects this year. The developer’s focus has been on launching premium and luxury projects, which boost cash flows and profitability.
Of the 12.8 million launch pipeline, DLF has already launched 3 million sq. ft, with the project launch of ‘DLF Privana West’ in April. The company sold out the project inventory in three days, for around ₹5590 crore. DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities, with sales potential of ₹1.04 trillion.
In its investor presentation for the April-June quarter, DLF said roughly 36 million sq ft of primarily residential project launches, of around ₹1,04,500 crore, have been planned over the ‘medium term’, including the 12.8 million sq ft of launches in FY25.
Managing director and chief financial officer Ashok Tyagi said in an analyst call on Friday that the luxury residential project in Goa will be launched in the September quarter. The much-awaited Mumbai project launch, which would mark DLF’s re-entry into the financial capital, will happen once the approvals come in.
DLF’s sales bookings jumped over to ₹6,404 crore during the April-June quarter of FY25 compared to ₹2,040 crore in the year-ago period, on strong demand for its luxury housing properties.
The real estate firm has given a sales guidance of ₹17,000 crore for 2024-25, compared to ₹14,778 crore in FY24.
“We have done close to ₹22,000 crore of sales in the last 15 months. So, demand is further consolidating towards good products. Our collections have also been on a high,” said Aakash Ohri, joint managing director and chief business officer, DLF Homes Developers Ltd.
On Thursday, DLF reported a 23% increase in its net profit to ₹645.61 crore in the first quarter of FY25. Total income rose to ₹1,729.82 crore during the April-June period of this fiscal from ₹1,522 crore in the corresponding period of the previous year.