DLF plans to launch Rs 1.04 lakh crore worth real estate projects in medium term
Realty major DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities with revenue potential of Rs 1.04 lakh crore as part of its strategy to encash strong demand for luxury homes. In its latest investor presentation for the April-June quarter, DLF informed about the «planned launches of Rs 1+ lakh crore (36 million square feet) of new products over the medium term».
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Giving the break-up, the company said a 12.8 million square feet area will be launched for sales this fiscal with a revenue potential of Rs 42,000 crore.
In the subsequent years, DLF intends to launch a 24 million square feet area having a gross development value of Rs 62,500 crore.
Out of the total Rs 1,04,500 crore worth projects that it intends to launch in medium term, only Rs 1,000 crore worth is planed from commercial properties and the remaining from the housing segment.
These projects, largely residential, will be launched primarily in Delhi, Gurugram, Chandigarh Tri-city, Mumbai and Goa.
DLF said in the presentation that it continues to scale up its product offerings and is developing margin-accretive products.
The company is tapping multiple geographies but the core market remains Delhi NCR. It intends to enter the Mumbai market this fiscal.
On strong housing demand, DLF's sales bookings jumped over three-fold to Rs 6,404 crore during
