DLF surpasses FY24 sales guidance with Gurugram project launch
₹13,000 crore in the December quarter with the pre-launch of its latest residential project DLF Privana South, a senior executive said. The project, located in sectors 76 and 77 in Gurugram, was pre-launched on 22 December and all 1,113 flats were sold in three days, bringing in ₹7,200 crore. In the first two quarters of FY24, DLF achieved sales bookings of around ₹4,268 crore.
The company could wrap up FY24 with around ₹18,000-20,000 crore in sales, said a person familiar with the development, who didn’t wish to be named. Like Privana South, DLF’s luxury project Arbour in Gurugram’s Sector 63 was sold out in days in the March quarter of FY23, brining in over ₹8,000 crore in sales bookings. DLF clocked ₹15,058 crore of sales from a single project in FY23, surprising even itself.
“For Privana South we took a booking amount of ₹50 lakh, much more than the industry norm, because we wanted only serious buyers to participate. A lot of factors worked for the project, including the location and pricing. We have priced it responsibly while keeping our margins intact, despite the residential market being on a high," Aakash Ohri, joint managing director and chief business officer, DLF Home Developers Ltd, said in an interview.
He didn’t disclose the total sales bookings for the third quarter, before the quarterly earnings. The 25-acre Privana South project has four-bedroom homes priced at an average ₹6.75 crore and going up to ₹7.5 crore. It is part of the 116 acres of land that DLF owns in the area, which will be turned into a larger development in the coming years.
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