DLF Ventures into Senior Living Homes with ₹2000 Crore Project in Gurugram

Realty major DLF Ltd is set to launch a senior living housing project in Gurugram this quarter, with an estimated revenue potential of around ₹2000 crore. This marks the entry of the country's largest real estate company into the senior living housing segment, as reported by news agency PTI.

Speaking at a conference call with analysts, DLF Ltd Managing Director Ashok Tyagi highlighted the strong housing demand in Gurugram, the company's key market, especially for credible developers. Despite the limited details available, the company has expressed its plans to launch more projects in Gurugram, Mumbai, Panchkula, and Goa.

Tyagi also expressed confidence in the company's ability to meet the pre-sales target of ₹20,000-22,000 crore during the current fiscal year. He noted, “We stay confident to meet the original sales bookings guidance,” despite the poor sales bookings in the latest December quarter.

The subdued sales of merely ₹419 crore in the third quarter were attributed to the company pausing sales bookings in its ongoing ultra-luxury residential project ‘The Dahilas’ in Gurugram and the lack of new housing project launches in the last quarter.

On the launch pipeline, DLF Ltd's subsidiary DLF Home Developers Ltd MD, Aakash Ohri, shared that the company has resumed selling apartments in ‘The Dahlias’ project from this quarter. He added that the rates in this project have risen by more than 25% from the pre-launch levels, which occurred in the October-December period of 2024.

Ohri also revealed that a renowned NRI has recently bought a property in this project, though he chose not to name the specific buyer. In October 2024, DLF launched its 17-acre super-luxury housing project ‘The Dahlias’ at DLF Phase 5 in Gurugram, consisting of 420 apartments and penthouses. Around 220 apartments have been sold for ₹15,716 crore in the Dahlias project till December, as reported by PTI.

Apart from the Dahlias project, Ohri confirmed during the meeting that the company would soon launch a senior living project in Gurugram with an estimated sales value of ₹2000 crore.

In the quarterly results released on Thursday, DLF reported a steep fall in sales bookings to ₹419 crore during the third quarter of this fiscal year from a record ₹12,039 crore in the year-ago period. DLF Ltd's sales bookings fell 16% to ₹16,176 crore in the first nine months of this fiscal year from ₹19,187 crore during the same period a year back. In contrast, during the 2024-25 financial year, the company achieved a record sales bookings of ₹21,223 crore.

The Gurugram-based company is primarily engaged in developing and selling residential properties (the Development Business) and developing and leasing commercial and retail properties (the Annuity Business).