DLF plans to launch new properties worth Rs 3,500 crore in Second half of FY22
11/11/2022

DLF plans to launch new projects worth Rs 1,800 crore in the second half of this fiscal, primarily in Gurugram, in order to capitalize on rising demand.

Online PR News – 11-November-2022 – Gurgaon, Harayana – DLF plans to launch new projects worth Rs 1,800 crore in the second half of this fiscal, primarily in Gurugram, in order to capitalize on rising demand. DLF informed investors in a presentation that the company plans to launch Residential projects in Gurugram by March 2023, pending approval from authorities.

Aside from that, DLF has completed inventories worth Rs 3,222 crore and properties worth Rs 5,622 crore in its under-construction projects. DLF said its sales bookings increased 62% year on year during the April-September period to Rs 4,092 crore from Rs 2,526 crore the previous year.

DLF Ltd has forecast sales bookings of Rs 8,000 crore for the current fiscal year 2022-23, a 10% increase over the previous fiscal. In the fiscal year 2021-22, its sales bookings increased to Rs 7,273 crore. In the previous year, the figure was Rs 3,084 crore.

The market remains bullish on the inherent growth potential of the housing sector, owing to rising community aspirations for well-designed, high-quality products across established ecosystems. DLF stated that new products such as low-rise independent floors have received a positive response across multiple markets. It intends to maintain its current growth rate by continuously offering differentiated products across multiple segments in the last fiscal quarter of 2022.

DLF reported a 26% increase in its consolidated net profit for the quarter that ended September last week, at Rs 477.20 crore. In the same quarter last year, its profit was Rs 378.12 crore.

The company has a total development potential of 215 million square feet across the residential and commercial segments.

The DLF Group's annuity portfolio totals more than 40 million square feet.

The company's primary business is the development and sale of residential properties (development business), as well as the development and leasing of commercial and retail properties (development business) (annuity business).