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DLF Exceeds Bookings Guidance with Rs 7,200 Crore Sales in Gurugram Project

8 Jan 2024 , 12:29 PM

DLF Ltd., India's leading real estate developer, achieved its bookings guidance for the financial year 2024 after the successful sale of its latest project, DLF Privana South in Gurugram.

The project, located in Gurugram's Sector 76 and 77, saw the sale of apartments worth Rs 7,200 crore, and it was fully sold out within 72 hours.

DLF Group Executive Director Aakash Ohri mentioned in an exclusive interaction that the interest in the project came from across the country, with the NRI segment accounting for 20% of the sales.

Although specific booking figures were not disclosed, Ohri stated that the company has exceeded its full-year guidance by completing Q3 successfully.

The average ticket size for the Privana South project is Rs 7 crore, with ticket prices ranging from Rs 6.25 crore to Rs 7.15 crore.

With the launch of Privana and Panchkula, DLF anticipates bookings worth Rs 9,000 crore in the December quarter.

The company's Q1 and Q2 bookings were around Rs 2,200 crore, and with the latest project and two upcoming launches, the Q3 bookings are expected to reach approximately Rs 9,000 crore.

Booking amounts for the project were Rs 50 lakh, and Ohri emphasized that purchases were made by end consumers, not brokers, indicating a focus on retail buyers planning to move into the apartments.

DLF's project pipeline for the year exceeds Rs 20,000 crore.

The update from DLF coincides with the Nifty Realty index trading at its highest level in 15 years, with most constituents at or near 52-week or record highs.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • DLF
  • Gurugram
  • Gurugram Project
  • news
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