DLF Expands into Senior Living Homes with ₹2,000 Crore Project in Gurugram
India's largest real estate company, DLF Ltd, announced on Friday that it will launch a senior living housing project in Gurugram this quarter. The project is expected to generate an estimated revenue of around ₹2,000 crore, marking DLF's foray into the senior living segment.
In a conference call with analysts, DLF Ltd Managing Director Ashok Tyagi expressed confidence in the robust housing demand in Gurugram, particularly for credible developers. He stated that the company remains on track to meet its pre-sales target of ₹20,000-22,000 crore during the current fiscal year, despite a slowdown in sales bookings in the December quarter.
Tyagi explained that the company had paused sales bookings in its ongoing ultra-luxury residential project, 'The Dahlias,' in the previous quarter and did not launch any new projects. Despite this, he remained optimistic about the company's performance.
DLF Home Developers Ltd MD, Aakash Ohri, provided further details on the launch pipeline. He mentioned that the company has resumed selling apartments in 'The Dahlias' project from this quarter, with rates increasing by more than 25% from the pre-launch phase. The Dahlias, a 17-acre super-luxury project in DLF Phase 5, Gurugram, comprises 420 apartments and penthouses. As of December, around 220 apartments have been sold for ₹15,716 crore.
Ohri also highlighted that a prominent NRI has recently purchased a property in the project, although the buyer's identity was not disclosed. Later this year, DLF plans to launch additional projects in Gurugram, Mumbai, Panchkula, and Goa.
DLF reported a significant drop in sales bookings to ₹419 crore during the third quarter of the current fiscal year, down from ₹12,039 crore in the same period last year. The company's sales bookings for the first nine months of the fiscal year fell by 16% to ₹16,176 crore, compared to ₹19,187 crore in the previous year. During the 2024-25 financial year, DLF achieved a record sales bookings of ₹21,223 crore.
DLF Group is primarily engaged in developing and selling residential properties and developing and leasing commercial and retail properties. The company has developed over 185 real estate projects, totaling more than 352 million square feet. DLF has a development potential of 280 million square feet across residential and commercial segments and an annuity portfolio of over 49 million square feet.
This strategic expansion into the senior living segment underscores DLF's commitment to diversifying its portfolio and meeting the evolving needs of the market. With a strong presence in key cities and a robust pipeline of projects, DLF is well-positioned to capitalize on the growing demand for high-quality, age-friendly housing solutions.
