DLF Set to Launch Luxury Residential Project in Gurugram, Anticipates Top Line of Rs 8,000-10,000 Crore

26 Dec 2023 , 03:22 PM

DLF plans to launch a luxury residential project in Gurugram, near Southern Peripheral Road (SPR), with an expected top line of Rs 8,000 to Rs 10,000 crore. The formal launch is anticipated in January 2024, positioning it as a significant venture following ‘The Arbour’ earlier in the year.

The luxury project is projected to be priced between Rs 17,000 and Rs 18,000 per square foot, featuring 1,100 super-luxury residences.

This marks DLF’s first venture into the SPR area, expanding beyond its established luxury residences along the Golf Course Road. The project is part of the integrated township ‘Privana,’ covering 120 acres, aligning with DLF’s broader vision.

It is considered phase-2 of the earlier launched ‘The Arbour’ and is expected to cover 25 acres.

In the second quarter, DLF reported a consolidated net profit of Rs 629 crore, a 29% YoY increase, with total income from operations reaching Rs 1,476 crore.

Sales bookings touched Rs 2,228 crore with gross margins at 57%, and DLF achieved net cash-positive status.

The company aims for sale bookings of about Rs 13,000 crore during the fiscal year, planning several new projects by March 2024.

‘The Arbour’ witnessed exceptional pre-formal launch sales of over Rs 8,000 crore, selling out entirely before the official launch.

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