DLF Retains Ambitious Sales Bookings Target of Rs 17,000 Crore for FY25
Realty major DLF is confident of achieving its sales bookings target despite a challenging market environment.
DlfReal EstateSales BookingsLuxury HousingFy25Real Estate NewsJul 26, 2024
In a conference call with analysts, DLF Managing Director Ashok Tyagi expressed confidence in the company's ability to meet its sales bookings target, citing a strong demand for its luxury projects. The company's sales bookings jumped over three-fold to Rs 6,404 crore during the first quarter of this fiscal, driven by its luxury project 'DLF Privana West' at Sector 76/77, Gurugram.
Tyagi also highlighted that the withdrawal of indexation benefit for calculating long-term capital gain (LTCG) tax on property sales would not have a significant impact on consumer demand. The company has a receivables of around Rs 21,000 crore from customers against sales, while the pending construction cost on existing projects is around Rs 11,000 crore.
DLF plans to launch projects worth Rs 42,000 crore during this fiscal, including luxury villas in Goa, a super-luxury project in Gurugram, and a project in Mumbai. The company has a strong track record of developing over 178 real estate projects, with an area in excess of 349 million square feet.
The company's net profit stood at Rs 645.61 crore in the first quarter of this fiscal, a 23% increase from the year-ago period. Total income rose to Rs 1,729.82 crore during the April-June period of this fiscal.
DLF's annuity portfolio (office and retail real estate spaces) of over 44 million square feet is expected to provide a steady stream of revenue for the company. With a development potential of 220 million square feet across residential and commercial segments, DLF is well-positioned to leverage the positive momentum in the residential segment.
DLF is India's leading real estate developer, with a track record of over seven decades. The company is primarily engaged in the business of developing and selling residential properties and developing and leasing commercial and retail properties.
DLF is a leading real estate developer in India, with a strong presence in the residential and commercial segments. The company has developed over 178 real estate projects, with an area in excess of 349 million square feet.
Frequently Asked Questions
What is DLF's sales bookings guidance for FY25?
DLF's sales bookings guidance for FY25 is Rs 17,000 crore.
What is driving DLF's sales bookings growth?
DLF's sales bookings growth is driven by strong demand for its luxury housing properties and a strong launch pipeline.
How much does DLF plan to launch in projects during FY25?
DLF plans to launch projects worth Rs 42,000 crore during FY25.
What is DLF's annuity portfolio?
DLF's annuity portfolio is over 44 million square feet of office and retail real estate spaces.
What is DLF's development potential?
DLF has a development potential of 220 million square feet across residential and commercial segments.
Related News Articles
Mumbai's Skyline Boom: 154 Skyscrapers Completed
The Mumbai Metropolitan Region has witnessed a surge in high-rise construction
Thane Municipal Corporation Installs Over 105,000 Smart Water Meters
The Thane Municipal Corporation has successfully installed more than 105,000 smart water meters across the city. This initiative aims to enhance water management and reduce wastage, moving away from the previous flat-rate billing system which did not accu
Maharashtra Expands Free Cancer Treatment Facilities to Improve Healthcare Access
The Maharashtra government has announced plans to expand free cancer treatment facilities, including chemotherapy and radiation oncology centers, to six district hospitals across the state. This initiative aims to provide quality healthcare closer to citi
Shanghai Introduces New Tax Incentives to Revive the Real Estate Market
Shanghai is rolling out new tax cuts for real estate transactions to boost the city's property market, but experts are divided on their potential impact.
Lotus Developers Files DRHP for INR 1,000 Crore IPO: A Leap into the Future
Lotus Developers, a leader in Mumbai's premium real estate market, has filed its Draft Red Herring Prospectus (DRHP) for an IPO in the range of INR 800 to 1,000 crore. The company has garnered significant attention with its impressive list of pre-IPO inve
Bomb Threat at DY Patil College in Akurdi: Emergency Evacuation Ensures Student Safety
A disturbing email alleging the placement of a bomb at DY Patil College in Akurdi sparked panic among students, teachers, and parents. The swift response from police and the bomb squad ensured a safe evacuation of the campus.