Realty major DLF Ltd. will unveil projects worth ₹19,710 crore for sale by March next year and aims to achieve sale bookings of about ₹12,000 crore in this fiscal on strong housing demand. On Friday, DLF reported sale bookings jumped more than two-fold to a record ₹15,058 crore last fiscal from ₹7,273 crore in the previous year.
The company clocked ₹8,000 crore from a single luxury housing project ‘The Arbour’ which was unveiled in Gurugram during the March quarter.
“A normalised sale for 2022-23 should really have been in the range of ₹10,000-11,000 crore. We will still keep our head guided. And we will say that in FY24 we should still be looking at sales guidance of ₹11,000-12,000 crore,” DLF CEO Ashok Tyagi told investors on Saturday in a conference call.
Buoyed by record sale bookings last fiscal, DLF has chalked out an aggressive launch pipeline for 2023-24 at 11.2 million square feet area with an estimated sales revenue potential of ₹19,710 crore.
The bulk of the projects to be launched this fiscal would be in the housing segment in Delhi-NCR and Chennai.
Last fiscal, the company launched 10 million square feet worth ₹14,600 crore.
On Friday, DLF reported a 40% increase in consolidated net profit at ₹569.60 crore for the quarter ended March as against ₹405.54 crore in the fourth quarter of 2021-22.
Total income fell to ₹1,575.70 crore in March quarter of this fiscal year from ₹1,652.13 crore in the corresponding period of the previous year.
DLF’s net profit increased 36% to ₹2,033.95 crore in the last fiscal from ₹1,500.32 crore in 2021-22.
Total income declined to ₹6,012.14 crore in 2022-23 from ₹6,137.85 crore in the previous year.
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