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DLF sells nearly 90 independent floors worth Rs 300 crore in Gurugram

DLF plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others

twitter-logoBusinessToday.In | November 29, 2020 | Updated 19:39 IST
DLF sells nearly 90 independent floors worth Rs 300 crore in Gurugram
DLF plans to launch independent floors in Panchkula, Tri-city, New Gurgaon

Real estate developer DLF on Sunday said it has sold nearly 90 independent floors worth over Rs 300 crore in Gurugram. The company also plans to launch more such projects as demand for premium residential properties has revived in last few months. Adding to it, plotted developments continue to remain an attractive investment option due to lower investment cost and higher returns.

The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others.

"Recently we launched 88 residences in form of premium independent floors (at a price point of Rs 3.75 - 4.25 crores each), spread across 22 plots, in the DLF City Phase 3...in Gurugram. These were sold out in a record time," said Aakash Ohri, Sr Executive Director Sales & Director, DLF, reported news agency PTI.

DLF, the country's largest realty firm, also plans to launch similar products in Panchkula, Tri-city, New Gurgaon and wherever there is an opportunity in DLF phase 1 to 4, he told the news agency.

"With an improved attractiveness for real estate as a preferred asset class, against other traditional alternatives, home buyers are looking at safeguarding their accumulated savings by investing in a more long-term asset," Ohri said.

He further stated that the coronavius pandemic has led to demand gravitating towards organised and trusted developers.

DLF aims to achieve sales bookings of Rs 2,500 crore in the current financial year 2020-21, marginally better than previous year, despite the COVID-19 pandemic. During FY20, the company's sales booking stood at Rs 2,485 crore.

In the first half of this fiscal, DLF's sales bookings crossed Rs 1,000 crore as sales in the second quarter rose sharply to Rs 853 crore from Rs 152 crore in the previous quarter.

During July-September quarter, the company reported 48 per cent decline in its consolidated net profit at Rs 232.14 crore as against Rs 445.83 crore in the year-ago period. Total income fell to Rs 1,723.09 crore in the second quarter of this fiscal from Rs 1,940.05 crore in the corresponding period of the previous year.

DLF's net debt stood at Rs 5,215 crore at the end of the September quarter.

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