Updated February 25th, 2024 at 14:48 IST

DLF plans to launch properties worth Rs 80,000 crore in next 4 years

DLF aims to introduce 10 million square feet of area in the next fiscal year, with an estimated revenue potential of Rs 32,000 crore.

Reported by: Business Desk
DLF | Image:Official website
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DLF future plans: DLF, a leading real estate company by market capitalisation, is gearing up to launch properties worth nearly Rs 80,000 crore over the next 3-4 years to capitalise on the increasing demand for housing and commercial projects.

In the financial year 2022-23, DLF achieved sales of properties amounting to Rs 15,000 crore, and it is poised to surpass this figure in the current fiscal year based on the sale bookings recorded in the first three quarters.

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According to an investor presentation, DLF aims to introduce 10 million square feet of area in the next fiscal year, with an estimated revenue potential of Rs 32,000 crore. Additionally, it has identified another 22 million square feet of area, expected to generate revenue of Rs 46,850 crore for the fiscal year 2024-25 and beyond.

The majority of the projects slated for launch over the next 3-4 years will be residential, focusing on luxury and ultra-luxury segments in key areas such as Delhi-NCR, Mumbai, Goa, and Chennai.

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Vivek Anand, Chief Financial Officer of DLF Group, underlined the sustained demand momentum across all segments, indicating a promising outlook. He stated, "We have identified a fresh pipeline of new products spanning approximately 32 million square feet, with a sales potential of approximately Rs 79,000 crore, which is more than double what we have delivered during the last 3 to 4 years and is in line with our plans of scaling up the business."

Anand outlined that DLF expects to launch these projects over the next 3-4 years, with key launches planned in Gurugram, Chennai, Goa, and the initial phase of the Mumbai project.

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DLF's expansion strategy in the residential sector follows a surge in demand after the second wave of the COVID-19 pandemic in 2021. The company witnessed a doubling of sale bookings annually to Rs 13,316 crore during the first nine months of the current fiscal year, signalling robust demand in primary markets.

Furthermore, DLF reported a 27 per cent increase in consolidated net profit to Rs 655.71 crore for the December quarter, driven by higher income and lower expenses. 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.

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With approximately 215 million square feet of development potential across residential and commercial segments, along with an annuity portfolio of over 42 million square feet, DLF remains poised for continued growth and expansion in the real estate sector.

(With PTI inputs)

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Published February 25th, 2024 at 14:48 IST