Press Trust of India
Realty major DLF has set a 15% growth target in sales bookings this fiscal at Rs. 17,000 crore as it plans to launch many luxury housing projects across Gurugram, Goa, and Mumbai amid strong consumer demand, its MD Ashok Tyagi said.
The company’s sales bookings fell 2 percent annually to Rs. 14,778 crore in the last fiscal from a record Rs. 15,058 crore a year ago.
In an earning call, with analysts, Tyagi said the company has achieved consistent sales bookings of around Rs. 15,000 crore in the last two financial years.
He said the company has provided a sales bookings guidance of Rs. 17,000 crore for the current financial year. DLF Home developers Ltd Joint MD Aakash Ohri said, the company would launch luxury housing projects at DLF phase 5 in Gurugram, Goa and Mumbai during the financial year.
On Monday, DLF announced at it would launch projects worth Rs. 36,000 crore this fiscal year. When analysts asked about the reason for conservative sales booking guidance, Ohri said, the company would not stop sales after reaching the Rs.17,000 crore mark.
However, he said the price point of the upcoming project in DLF Phase 5, Gurugram would be high.
“We will not compromise on the price point and also the quality of consumers,” Ohri said.
The upcoming DLF phase 5 project in Gurugram would be better than its ultra-luxury housing project ‘The Camellias’ where recently an apartment was sold for Rs. 100 crore in the secondary market.
According to an investors’ presentation, DLF said that out of total sales booking last fiscal, 82 percent contribution came from new launches. Its luxury housing project ‘DLF Privana South’ at Sector 76/77, Gurugram contributed Rs. 7,200 crore.
The company achieved sales booking of around Rs. 1,200 crore from Chandigarh Tri-city. It also sold commercial SCOs (shop-cum-office) for about Rs. 1,240 crore. Independent floors in Gurugram were sold for Rs. 1,215 crore.
“Sustained demand momentum for completed inventory”, DLF said, adding that sales worth Rs. 1,580 crore were clocked in its ultra-luxury project ‘The Camellias’. DLF sold a land parcel in Chennai for Rs. 735 crore.
To sustain and grow its sales, DLF has given aggressive guidance for launches in the current 2024-25 fiscal. “The demand momentum in the residential segment is expected to stay strong and consequently we remain focused on bringing a calibrated supply across multiple micro markets,” the company said.
