NEW DELHI: Realty giant DLF Ltd announced it will debut a senior living housing project in Gurugram this quarter, with an estimated revenue potential of around Rs 2,000 crore as part of its expansion strategy.
This marks DLF’s entry into the senior living housing market, further diversifying its offerings.
During a conference call, DLF Ltd Managing Director Ashok Tyagi emphasized that housing demand in Gurugram, a core market for the company, remains strong, particularly for reputable developers.
He confidently stated that DLF aims to achieve pre-sales of Rs 20,000-22,000 crore for the fiscal year, despite experiencing low sales bookings of only Rs 419 crore in the last December quarter. “We remain optimistic about reaching our original sales guidance,” Tyagi remarked.
Elaborating on the subdued sales figures, he noted that DLF paused bookings for its ultra-luxury residential project, ‘The Dahlias’, during the last quarter and did not launch any new housing projects.
Regarding future launches, Aakash Ohri, Managing Director of DLF Home Developers Ltd, shared that sales for ‘The Dahlias’ have resumed this quarter, with prices increasing over 25% compared to pre-launch rates from October to December 2024. He mentioned that a notable NRI recently purchased a property in this project, although he did not disclose the name.
In October 2024, DLF unveiled its 17-acre luxury residential project ‘The Dahlias’ located in DLF Phase 5, Gurugram, featuring 420 apartments and penthouses. As of December, around 220 apartments have been sold for Rs 15,716 crore in this project.
Moreover, the company plans to roll out the senior living project in Gurugram with an anticipated sales value of Rs 2,000 crore shortly.
Later this year, DLF aims to introduce more projects in Gurugram as well as in Mumbai, Panchkula, and Goa.
On Thursday, DLF reported a significant decline in sales bookings, totaling Rs 419 crore during the third quarter of this fiscal year, compared to an impressive Rs 12,039 crore in the same period last year.
DLF Ltd’s total sales bookings fell by 16% to Rs 16,176 crore in the first nine months of this fiscal year, down from Rs 19,187 crore a year ago.
In the 2024-25 financial year, the company achieved record sales bookings of Rs 21,223 crore.
DLF Group is primarily engaged in developing and selling residential properties (the Development Business) and leasing commercial and retail spaces (the Annuity Business).
With over 185 real estate projects completed, DLF has developed more than 352 million square feet, and currently has a potential development capacity of 280 million square feet across both residential and commercial sectors, alongside an annuity portfolio exceeding 49 million square feet.
