DLF, a leading Indian real estate company, has lined up projects worth nearly Rs 80,000 crore, launching over the next 3-4 years, to meet increasing demand for housing and commercial projects.
The company had sold properties worth Rs 15,000 crore during 2022-23, which expectedly would breach that benchmark in the current fiscal year. DLF is considering launching 10 million square feet of area in the upcoming fiscal to attract Rs 32,000 crore in revenue.
For the fiscal 2024-25 and beyond, an additional land area of 22 million square feet has been picked out, with the potential to give returns to the tune of Rs 46,850 crore. The project is focused on residential business, targeting luxury and ultra-luxury segments in Delhi-NCR, Mumbai, Goa, and Chennai region.
Vivek Anand, CFO of DLF, said the company is expanding with a fresh pipeline of new products of about 32 million square feet, with a revenue potential of approximately Rs 79,000 crore. These projects would roll out in 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 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.
DLF plans to cast a wide net in their residential business to meet the pending demand following the second wave of the COVID-19 pandemic in 2021. The company’s sales bookings jumped twice to Rs 13,316 crore at an annual run rate during the first nine months of this fiscal.
In the December quarter, DLF posted growth three times in sales booking to Rs 9,047 crore year-on-year.
The company had approximately a quarter percentage increase in consolidated net profit for the December quarter due to higher income and lower expenses.