DLF Retains Rs 17,000-Crore Sales Target, Prepares For New Launches
DLF's sales bookings surged over threefold to Rs 6,404 crore in the first quarter of this fiscal, driven by strong demand for luxury housing.
Realty major DLF Ltd. has reaffirmed its sales bookings target of Rs 17,000 crore for the fiscal, with potential for an upside, while reporting receivables of approximately Rs 21,000 crore from customers. This contrasts with pending construction costs of about Rs 11,000 crore for ongoing projects.
In a conference call with analysts, DLF Managing Director Ashok Tyagi emphasised that the removal of indexation benefits for long-term capital gains tax on property sales would have minimal impact on consumer demand.
Tyagi also indicated that while the company will adhere to its current sales bookings guidance, it may revise the target upwards after the second quarter, when there is greater clarity on upcoming project launches.
DLF's sales bookings surged over threefold to Rs 6,404 crore in the first quarter of this fiscal, driven by demand for luxury housing. This compares to Rs 2,040 crore in the same period last year. The company had previously set a guidance of Rs 17,000 crore in sales bookings for fiscal 2025, up from nearly Rs 15,000 crore in the previous year.
The company announced plans for several new project launches, including luxury villas in Goa this quarter, a super-luxury project similar to 'The Camelias' in Gurugram next quarter, and additional projects in Mumbai and Gurugram by the end of the fiscal. DLF aims to launch projects worth Rs 42,000 crore during the fiscal.
Regarding capital expenditure, Tyagi said that the company has significant receivables and a substantial fund in RERA's escrow account. DLF's recent investor presentation highlighted that sales for the April-June quarter were led by the luxury project 'DLF Privana West' in Gurugram, which generated Rs 5,600 crore in sales. The super-luxury project 'The Camellias' also saw sales of 4 units totaling Rs 251 crore.
In a statement on Thursday, DLF said, "We believe that the residential segment is witnessing a structural upcycle and hence we continue to strengthen our new product pipeline."
"We stay committed towards leveraging this positive momentum and have planned a strong launch pipeline of an additional 9 million square feet of new products during the fiscal, across various segments and geographies, including Gurugram, Mumbai, Goa and Chandigarh Tri-city," the company said.
The real estate developer on Thursday reported a 23% increase in its consolidated profit to Rs 645.61 crore in the first quarter of this fiscal. Its net profit stood at Rs 527 crore in the year-ago period.
Total income rose to Rs 1,729.82 crore during the April-June period of this fiscal, from Rs 1,521.71 crore in the corresponding period of the previous year.
(With inputs from PTI)
