DLF to Launch Luxury Housing Projects Worth Rs 15,000 Crore in Gurugram

28 Aug 2023 , 12:07 PM

DLF Ltd, a prominent real estate company, plans to launch two luxury housing projects worth Rs 15,000 crore in Gurugram by the second half of the fiscal year.

The MD, Ashok Kumar Tyagi, aims to capitalize on strong demand for premium homes after the success of the ‘The Arbour’ project with Rs 8,000 crore sales within three days.

DLF aims for Rs 13,000 crore in sales bookings this fiscal year, surpassing previous numbers. DLF’s FY22-23 sales bookings were Rs 15,058 crore, more than double the previous year.

Tyagi notes robust demand for ultra-luxury, luxury, and mid-income residential properties. Affordable housing is stressed due to rising interest rates and housing prices. DLF’s strategy includes a Rs 20,000 crore launch pipeline for this fiscal year.

Focus will be on two Gurugram launches on Southern Peripheral Road and Golf Course Road, with estimated sales value of Rs 15,000 crore. DLF owns land parcels for these projects and plans launches in Delhi, Chandigarh, and Mumbai. Chennai and Goa launches might be postponed to the next fiscal year.

At 11:56 AM, the DLF stock was priced at Rs 483.70 on the NSE, showing a 1.78% increase, equivalent to Rs 8.45.

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