DLF Hits 52-Week High as It Unveils Rs 20,000 Crore Residential Project Pipeline

5 Sep 2023 , 01:51 PM

DLF achieved a 52-week high of Rs 525.75 on September 5. The real estate giant reveals a residential project pipeline worth almost Rs 20,000 crore for the fiscal year. The project pipeline encompasses locations in Gurugram, Panchkula, Chennai, and Mumbai. 

It features a super-luxury residential project in DLF 5, Gurugram, a high-rise luxury complex in Chennai, a mid to high-rise development in New Gurugram, Sector 76/77, and a low-rise residential project in Chandigarh Tri-city. Multiple high-rise launches are planned for Gurugram, spanning mid-segment to super luxury, scheduled for Q3 and Q4.

An independent floors project in the mid-segment is slated for launch in Panchkula in the coming quarters. The Mumbai project is expected to debut in Q4, while the Chennai project is in the design and approval phase, set for launch in Q4 or Q1 of the next fiscal year. A portion of OneMidtown in Delhi, specifically one tower, is projected to launch in Q3 or Q4.

DLF shares have gained 36 % year-to-date. DLF reported a 12 % increase in consolidated net profit to Rs 527 crore in Q1 of this fiscal year. The company also announced its re-entry into the Mumbai property market for housing development. DLF’s net debt has plummeted by 92 % to Rs 57 crore, the lowest level, driven by robust housing sales and improved cash flow.

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