DLF to launch 7.7 million sq ft of real estate projects in second half of FY22

DLF Ltd plans to launch 7.7 million sq ft of real estate projects in the second half of 2021-22 with
projects that includes value homes, premium housing and commercial properties, said a senior
executive in an analyst call.
This is one of the biggest targets set by the real estate developer in recent times.
The company is also expected to announce the launch of the first phase of Midtown West, a
premium residential complex on Shivaji Marg in central Delhi’s Moti Nagar, which it will develop
in a joint venture with Singapore sovereign fund GIC. The project, with a revenue potential of Rs
12,000-15,000 crore, will have 3-4 BHK apartments.
This will be the first residential project of the joint venture, which already operates over 32
million sq ft of office space.
Aakash Ohri, senior executive director of DLF Home Developers, said in a Q2 analyst call that
the company will launch inventory worth Rs 800 crore of independent floors in Gurgaon. He said
this will be followed by a similar format in Panchkula, which will be worth close to Rs 400 crore,
and plotted development on Old Mahabalipuram Road in Chennai worth Rs 600 crore.
“In addition, the company is also in the final stages of approvals for the central Delhi project. We
are very well prepared and hoping to get a good response,” Ohri said.
DLF reported a net profit of Rs 378.12 crore for the quarter ended September, up 66% from Rs
227.75 crore a year earlier, buoyed by improved demand for residential real estate.
Its new sales bookings stood at Rs 1,512 crore, 77% higher than the year-ago period when its
performance was impacted by the pandemic-induced lockdown.
The company’s super luxury ‘The Camellias’ project is also seeing an increase in sales.
“There has been a process to Camellias sale, we have continued to present to the people who
can buy Camellias not only to this part of the world but to every nook and corner. If you see the
performance of Camellias in the last 18 months, there has been a steady growth,” Ohri said.
DLF has given guidance of launch of close to 6.4 million sq ft of residential projects in 2022-23,
of which 2 million sq ft will be dedicated for value homes.
“The residential business continues to tread on its growth trajectory with healthy traction and
strong demand momentum across segments and geographies. Demand for our new products of
independent floors across Gurugram market continues to witness healthy absorption. The
monetization of our completed inventory across markets continues to gain traction,” the
company has said.
DLF has also been raising prices across segments with an increase in demand.
“We are encouraged with these improving demand trends in the residential market and expect
these trends to remain for the long run. Given this positive outlook, supported by improved
fundamental drivers, we continue with our endeavour of bringing new offerings across segments
and geographies. With increasing volumes and well calibrated price hikes, we expect further
margin expansion for our projects,” the company said.