DLF Ventures into Mumbai and Goa with Ambitious Expansion Plans
Realty major DLF Ltd is set to launch a mix of luxury and premium residential projects in its core market Gurugram, and enter new property markets such as Mumbai and Goa this fiscal year.
Dlf LtdMumbaiGoaReal EstateLuxury HousingReal Estate MumbaiJul 26, 2024
In its investor presentation for the April-June quarter, DLF revealed that it plans to launch nearly 37 million square feet area for sale in the medium term across various cities, with sales potential of ₹1.04 trillion. The company's focus has been on launching premium and luxury projects, which boost cash flows and profitability.
DLF has already launched 3 million sq. ft of projects, with the successful launch of 'DLF Privana West' in April, which sold out in just three days, generating revenue of around ₹5590 crore. The company's sales bookings jumped over to ₹6,404 crore during the April-June quarter of FY25 compared to ₹2,040 crore in the year-ago period, on strong demand for its luxury housing properties.
Managing director and chief financial officer Ashok Tyagi stated that the luxury residential project in Goa will be launched in the September quarter, while the much-awaited Mumbai project launch will happen once the approvals come in. DLF's re-entry into the financial capital is expected to be a significant milestone for the company.
The real estate firm has given a sales guidance of ₹17,000 crore for 2024-25, compared to ₹14,778 crore in FY24. Aakash Ohri, joint managing director and chief business officer, DLF Homes Developers Ltd, expressed optimism about the company's prospects, citing strong demand for its luxury housing properties and robust collections.
In addition to its expansion plans, DLF reported a 23% increase in its net profit to ₹645.61 crore in the first quarter of FY25, driven by strong sales and revenue growth. Total income rose to ₹1,729.82 crore during the April-June period of this fiscal from ₹1,522 crore in the corresponding period of the previous year.
Information DLF Ltd is one of India's leading real estate developers, with a track record of delivering premium and luxury residential projects across various cities.
DLF Ltd is a leading real estate developer in India, known for its commitment to quality, customer satisfaction, and sustainability. With a presence in multiple cities, DLF is one of the most recognized brands in the Indian real estate sector.
Frequently Asked Questions
What is DLF's project launch guidance for FY25?
DLF's project launch guidance for FY25 is 12.8 million sq. ft with sales potential of ₹42,000 crore.
What is the sales guidance for DLF in FY25?
DLF's sales guidance for FY25 is ₹17,000 crore, compared to ₹14,778 crore in FY24.
When is DLF's luxury residential project in Goa expected to be launched?
The luxury residential project in Goa is expected to be launched in the September quarter.
What is the significance of DLF's re-entry into the Mumbai market?
DLF's re-entry into the Mumbai market is a significant milestone for the company, marking its expansion into a new and lucrative market.
What is the current sales trend for DLF's luxury housing properties?
The sales trend for DLF's luxury housing properties is strong, driven by robust demand and customer preference for premium and luxury residential projects.
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