DLF sales bookings jump 2-fold to Rs 13,316 cr in Apr-Dec on high demand
After Gurugram, Delhi and Chandigarh, DLF has its highest land bank of around 12 million square feet in Chennai
Realty major DLF Ltd’s sales bookings jumped two times annually to Rs 13,316 crore during the first nine months of this fiscal, mainly on high demand for its luxury housing properties in Gurugram.
During the April-December period of the previous fiscal, the company’s sales bookings stood at Rs 6,599 crore.
In the 2022-23 fiscal, DLF’s sales bookings stood at a little over Rs 15,000 crore, and it is likely to clock higher numbers in the current fiscal.
On Wednesday, the company reported a more than three-time increase in its 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.
The record sales bookings in the third quarter were mainly driven by sales of 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the pre-launch last month.
In the third quarter of 2023-24, DLF launched three new projects –two in Gurugram and one in Panchkula–totalling over 5 million square feet.
DLF said it witnessed a healthy demand, and both projects in Gurugram were completely sold out within record time.
“With this strong performance, the new sales bookings for the nine-month period stood at Rs 13,316 crore and hence will be comfortably exceeding our full-year guidance,” the company said.
DLF has reported a 27 per cent increase in consolidated net profit to Rs 655.71 crore in the December quarter, boosted by higher income and lower expenses.
Its profit stood at Rs 517.94 crore in the year-ago period.
Total consolidated income rose to Rs 1,643.51 crore in the third quarter of the current fiscal from Rs 1,559.66 crore in the same period a year ago.
DLF’s total expenses declined to Rs 1,131.97 crore in the December quarter from Rs 1,151.62 crore in the year-ago period.
DLF is India’s largest real estate company in terms of market capitalisation.
DLF Group has 215 million sq ft of development potential across residential and commercial segments. The group has an annuity portfolio of over 42 million square feet.
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First Published: Jan 25 2024 | 1:33 PM IST