To increase its enterprise amid robust demand for premium properties, realty main DLF Ltd will launch two luxurious housing initiatives value ₹15,000 crore in Gurugram throughout the second half of this monetary yr, information company PTI quoted its Managing Director Ashok Kumar Tyagi as saying.
After the success of gross sales of ₹8,000 crore value of flats inside three days in February in its new undertaking ‘The Arbour’ at Gurugram, Tyagi stated the corporate has set a goal to attain gross sales bookings of ₹13,000 crore on this fiscal yr and hopes to exceed the quantity.
DLF posted gross sales bookings of ₹15,058 crore throughout the 2022-23 monetary yr, which is a greater than two-fold enhance from ₹7,273 crore within the earlier yr.
Tyagi additionally spoke in regards to the total housing market and famous that the demand for ultra-luxury, luxurious, and mid-income residential properties could be very robust.
He talked about that there’s some stress within the inexpensive housing phase citing the the rise in rates of interest on house loans and a rise in housing costs.
On plans, Tyagi stated, “The corporate has created a launch pipeline of ₹20,000 crore for this fiscal.
“Launches this yr shall be predominantly pushed by two launches in Gurugram – one in Southern Peripheral Street (SPR) and the opposite in Golf Course Street,” Tyagi stated.
The estimated gross sales bookings worth of those two upcoming initiatives in Gurugram is about ₹15,000 crore, as DLF owns land parcels for these two initiatives in Gurugram.
Aside from this, Tyagi additionally stated that his agency would additionally launch one residential tower in its undertaking at Moti Nagar right here, one in Tricity of Chandigarh, and one in Mumbai this fiscal.
“Launches in Chennai and Goa may spill to subsequent fiscal yr,” Tyagi stated.
Earlier this month, Singh offered his total remaining stake in DLF for round ₹731 crore.
Just lately, DLF reported a 12 % rise in consolidated internet revenue at ₹527 crore within the first quarter of this fiscal. The corporate’s internet revenue stood at ₹469.57 crore within the year-ago interval.
Whole earnings rose marginally to ₹1,521.71 crore within the April-June interval of the 2023-24 monetary yr from ₹1,516.28 crore within the year-ago interval. DLF’s internet debt stood at ₹57 crore as of June 30, 2023, as in comparison with ₹721 crore on the finish of the 2022-23 fiscal.
Throughout the interval below evaluation, the corporate’s gross debt additionally fell to ₹3,068 crore from ₹3,840 crore.
With company inputs.
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Up to date: 27 Aug 2023, 05:25 PM IST
Supply: Live Mint