DLF plans luxury housing projects worth ₹58,000 crore in Delhi-NCR and Mumbai over the next two to three years. The firm said it is expanding its presence as demand from homebuyers stays strong. DLF also reported a 10% increase in net profit to ₹1,301.35 crore for the second quarter.
Real estate major DLF Ltd said it expects to launch luxury housing projects in Delhi-NCR and Mumbai over the next two to three years, with a combined revenue potential of ₹58,000 crore, news agency PTI reported.
The real estate firm said it is expanding its presence in metropolitan cities amid strong demand from homebuyers and investors.
The company also said it has launched projects covering 14 million sq ft over the past two and a half years, with a revenue potential of more than ₹56,000 crore.
"50 per cent launched in the first 2.5 years...healthy pipeline for the medium term ( ₹58,000 crore)," DLF was quoted as saying by PTI.
DLF Home Developers Ltd MD and Chief Business Officer Aakash Ohri said the company's ultra-luxury projects in Mumbai and Gurugram are expected to be launched in the second half of the current financial year.
At the start of the 2024-25 financial year, DLF had said it would launch projects covering 37 million sq ft over the next few years, with an estimated revenue potential of ₹1,14,500 crore.
Launched in October 2024, The Dahlias is spread across 17 acres in DLF Phase 5, Gurugram. The project comprises 420 flats and penthouses. Ohri said around 275 units had been sold by September.
In August, a penthouse in the project, with a super area of 17,200 sq ft and a carpet area of 10,500 sq ft, was sold for ₹271 crore.
The company is targeting sales bookings of around ₹20,000 crore in the 2026-27 financial year.
On Friday, DLF reported a 10% year-on-year increase in consolidated net profit to ₹1,301.35 crore for the second quarter of the current financial year, supported by lower expenses.
The company had posted a net profit of ₹1,180.09 crore in the corresponding quarter of the previous financial year.
DLF's total income rose to ₹2,297.30 crore in the July-September quarter, compared with ₹2,261.80 crore in the year-ago period. The increase was mainly driven by higher other income.
DLF has developed more than 185 real estate projects so far, covering more than 352 million square feet of area. It has a rental commercial real estate (offices and malls) portfolio of around 50 million sq ft.
The group has 275 million sq ft of development potential across residential and commercial segments, including current projects under execution.