DLF to launch projects worth Rs 20k cr, targets sale bookings of Rs 12k cr

Realty master DLF Ltd will launch projects worth Rs 19,710 crore for sale by March next year and aims to achieve sale bookings of around Rs 12,000 crore in this financial year on strong housing demand.

On Friday, DLF reported that its sale bookings jumped more than double to a record high of Rs 15,058 crore in the last fiscal from Rs 7,273 crore in the previous year.

The company registered Rs 8,000 crore from a single luxury residential project ‘The Arbor’ which was launched in Gurugram during the March quarter.

Normal sale for 2022-23 should be in the range of Rs 10,000 to 11,000 crore. We will continue to nod our heads. And we will say that in FY24 we should continue to look at sales guidance of Rs 11,000-12,000 crore, DLF CEO Ashok Tyagi told investors on Saturday on a conference call.

Buoyed by record sale bookings at the end of the financial year, DLF has identified a strong launch pipeline for 2023-24 at 11.2 million sq ft with estimated sales revenue of Rs 19,710 crore.

The bulk of the projects to be launched in this financial year will be in the housing sector in Delhi-NCR and Chennai.

In the last financial year, the company launched a 10 million square feet property worth Rs 14,600 crore.

On Friday, DLF announced a 40 per cent increase in consolidated net profit at Rs 569.60 crore for the quarter ended March as against Rs 405.54 crore in the fourth quarter of 2021 to 2222.

Total income fell to Rs.1,575.70 crore in the March quarter of this financial year from Rs.1,652.13 crore in the corresponding period of the previous year.

DLF’s net profit increased by 36 per cent to Rs. 2,033.95 crore in the last financial year from Rs. 1,500.32 crore in 2021-22.

Total income fell to Rs. 6,012.14 crore in 2022-23 from Rs. 6,137.85 crore in the previous year.

On record sale bookings, DLF said: “Our offerings across multiple geographies continue to be the preferred choice for customers enabling healthy growth in our business.”

The company added that the increase in the residential cycle combined with the growing demand in the luxury sector motivates it to remain committed to expanding the range of new offerings.

DLF said it will continue to take a calibrated approach to bringing new products across multiple markets while ensuring timely implementation of its launched products.

DLF is the largest real estate company in India by market capitalization. It has developed more than 153 real estate projects and has developed an area of ​​more than 330 million square feet.

DLF is primarily engaged in the business of developing and selling residential real estate (Development Business) and developing and leasing commercial and retail real estate (Annual Business).

The group has an annual portfolio of more than 40 million square feet.

The company has 215 million square feet of development potential across the residential and commercial sectors.