DLF to unveil properties worth Rs 80,000 cr amid rising demand

DLF, the largest real estate firm in India by market cap, has plans to launch properties worth nearly Rs 80,000 crore over the next 3-4 years, in response to increasing demand for housing and commercial projects. 

The company has sold properties worth Rs 15,000 crore during 2022-23 and expects to exceed this figure in the current fiscal year. DLF intends to launch 10 million square feet of area in the next financial year with a revenue potential of Rs 32,000 crore. 

An additional 22 million square feet area with a revenue estimate of Rs 46,850 crore has been identified for the 2024-25 fiscal year and beyond. The majority of these projects will be residential, focusing on luxury and ultra-luxury segments. 

The company's focus areas will be Delhi-NCR, Mumbai, Goa, and Chennai. DLF's CFO, Vivek Anand, stated that the company has a fresh pipeline of new products amounting to approximately 32 million square feet with a sales potential of approximately Rs 79,000 crore. These projects are expected to be launched over the next 3-4 years. 

"Consequently, we have identified a fresh pipeline of new products of approximately 32 million square feet with a sales potential of approximately Rs 79,000 crore, which is more than double of what we have delivered during the last 3 to 4 years and is in line with our plans of scaling up the business," DLF Group Chief Financial Officer Vivek Anand said.

DLF's plan to expand its residential business comes amid a sharp increase in demand following the second wave of the COVID pandemic in 2021. The company's sale bookings doubled annually to Rs 13,316 crore during the first nine months of this fiscal. 

In the December quarter, DLF reported more than a three-fold increase in sales booking to Rs 9,047 crore compared to the same period last year. 

The company reported a 27% increase in consolidated net profit for the December quarter, boosted by higher income and lower expenses. 

DLF has approximately 215 million square feet of development potential across residential and commercial segments, with an annuity portfolio of over 42 million square feet.