NEW DELHI: DLF Ltd, India’s leading real estate firm, plans to invest ₹23,500 crore to finalize its ongoing residential projects in Delhi-NCR and Mumbai.
As outlined in an investor presentation, the total estimated cost to complete these launched projects is ₹23,500 crore.
To finance the pending construction, DLF has reported a cash reserve of ₹10,429 crore, with ₹7,782 crore held in an escrow account regulated by the Real Estate Regulatory Authority (RERA).
Furthermore, the company holds receivables totaling ₹37,220 crore from customers for residential properties sold.
DLF’s Chief Financial Officer (CFO) recently stated in a conference call that the company invested around ₹750 crore in construction during the first quarter of this year, with expectations for a slight increase in subsequent quarters.
Following the COVID pandemic, DLF has launched numerous residential projects in Delhi-NCR, Mumbai, and the Chandigarh tri-city area.
In the July-September quarter, DLF Ltd and Trident Realty debuted a housing project featuring 416 flats in Mumbai, achieving sales of approximately ₹2,300 crore.
In the first quarter, DLF introduced and sold all 1,164 luxury apartments at its new project ‘DLF Privana North’ in Gurugram, generating sales of around ₹11,000 crore within its expansive 116-acre township.
Last year, DLF successfully launched and sold two projects in this township—’DLF Privana West’ and ‘DLF Privana South’—for a combined total of approximately ₹12,800 crore.
These recent launches have enabled DLF to achieve record sales bookings in the last fiscal year, and the company aims to replicate this success.
DLF’s sales bookings reached a historic high of ₹21,223 crore in the last fiscal, compared to ₹14,778 crore in 2023-24.
In the fiscal year 2022-23, DLF’s sales bookings were ₹15,058 crore.
For the ongoing financial year, DLF targets sales bookings of ₹20,000-22,000 crore, having already sold properties worth ₹11,425 crore in the first quarter.
DLF Group primarily focuses on the development and sale of residential properties and leasing of commercial and retail spaces.
The Group has successfully completed over 185 real estate projects, encompassing an area exceeding 352 million sq ft, alongside an annuity portfolio covering 46 million sq ft.
DLF also boasts a development potential of 280 million sq ft across both residential and commercial sectors, including ongoing projects and those in the pipeline.
