DLF’s spot cemented by robust launch pipeline, premium demand
DLF ended FY24 with healthy sales bookings of ₹14,780 crore, a tad lower than FY23 as it did not launch any major projects in the fourth quarter. The company has already made a solid start to FY25 by selling all 795 apartments in its latest luxury housing project in Gurugram – DLF Privana West – for a staggering ₹5,590 crore, and that too within three days of launch earlier this month. It has given a sales booking guidance of ₹17,000 crore for FY25, but analysts are more gung-ho expecting DLF to surpass this target.
Further, the company plans to launch projects having a gross development value of ₹36,000 crore in FY25. Upcoming launches this financial year include luxury projects in Gurugram (DLF 5 and Privana’s new phase), Chennai, Goa and the first phase (1 million square feet) of its project in Mumbai – marking DLF’s re-entry into India’s largest real estate market. The dynamics of DLF’s mainstay market of Gurugram remain in its favour.
The Gurugram real estate market is experiencing an upswing, backed by strong demand from high-net worth individuals (including non-resident Indians, or NRIs) and a relative scarcity of high-quality inventory. Around 85% of DLF’s projects are in its home market of Delhi-NCR. Meanwhile, its commercial properties arm DLF Cyber City Developers Ltd saw rental income rise 9% on-year to ₹4,300 crore.
The management expects the figure to reach ₹6,000 crore by FY25-end. Rental income for two towers at DLF Downtown, Chennai will ramp up from the first quarter of FY25 and for the pre-leased Standard Chartered tower from the first quarter of FY26. Similarly, tower 4 at DLF Downtown, Gurugram will also contribute to rentals from the same quarter.
Read more on livemint.com
