New Delhi, Jan 23 (PTI) Realty major DLF Ltd on Friday said it will launch this quarter a senior living housing project in Gurugram with an estimated revenue potential of around Rs 2,000 crore as part
of its expansion plan.
With this upcoming launch, India's largest real estate company will be entering the senior living housing segment.
In a conference call with analysts, DLF Ltd Managing Director Ashok Tyagi asserted that the housing demand in Gurugram, the company's stronghold, continues to be robust, especially for credible developers.
He expressed confidence that the company would be able to meet the pre-sales target of Rs 20,000-22,000 crore during this fiscal, despite poor sales bookings in the latest December quarter.
"We stay confident to meet the original sales bookings guidance," Tyagi told analysts.
Explaining the reason for lukewarm sales of mere Rs 419 crore in the third quarter, he said the company paused sales bookings in its ongoing ultra-luxury residential project 'The Dahilas' at Gurugram last quarter and also did not launch any new housing project.
On the launch pipeline, DLF Ltd's arm DLF Home Developers Ltd MD, Aakash Ohri, said that the company has started selling apartments in 'The Dahlias' project from this quarter. The rates have gone up in this project by more than 25 per cent from the pre-launch, which happened in the October-December period of 2024.
Ohri highlighted that a renowned NRI has recently bought a property in this project, but did not name the buyer.
In October 2024, DLF launched its 17-acre super-luxury housing project 'The Dahlias' at DLF Phase 5 in Gurugram, comprising 420 apartments and penthouses. Around 220 apartments have been sold for Rs 15,716 crore in the Dahlias project till December.
That apart, he said, the company would soon launch a senior living project in Gurugram with an estimated sales value of Rs 2,000 crore.
Later this year, the company plans to launch more projects in Gurugram, Mumbai, Panchkula and Goa.
On Thursday, DLF reported a sharp fall in sales bookings to Rs 419 crore during the third quarter of this fiscal from a record Rs 12,039 crore in the year-ago period.
DLF Ltd's sales bookings fell 16 per cent to Rs 16,176 crore in the first nine months of this fiscal from Rs 19,187 crore in the year-ago period.
During the last 2024-25 financial year, the company achieved a record sales bookings of Rs 21,223 crore.
DLF Group is primarily engaged in the business of developing and selling residential properties (the Development Business) and developing and leasing commercial and retail properties (the Annuity Business).
It has developed more than 185 real estate projects totalling more than 352 million square feet.
DLF has 280 million square feet of development potential across the residential and commercial segments. It also has an annuity portfolio of over 49 million sq ft. PTI MJH HVA
