DLF plans 7-8 mn sq ft of new projects by Mar-end

Realty major DLF plans to launch 7-8 million sq ft of new projects by the end of this fiscal and will continue to focus on plot sales across the country.

"Pace of new launches to increase in H2 with total planned launches of 7-8 million sq ft. Given previous successes, focus on plotted launches to continue," DLF said in a presentation today.

The country's largest realty developer said it would offer 4-4.5 million sq ft of plots for sales in the remaining two quarters of this fiscal. The company plans to sell these plots in New Chandigarh, Gurgaon, Panchkula and Lucknow.

Besides, DLF will launch 2.5-3 million sq ft of group housing projects in Gurgaon and Bangalore. It has already launched one group housing project in Bengaluru in October.

Talking about its ongoing projects, the company said it is "on track to deliver over 12 million sq ft (of spaces) spread across Gurgaon, Delhi, Chennai and Cochin". It has already delivered 2.1 million sq ft in first 6 months of 2011-12 fiscal.

The company said projects covering about 53 million sq ft were under construction at the end of the second quarter. It has total potential developable area of 359 million sq ft.

Yesterday, DLF reported 11% dip (year-on-year) in consolidated net profit at Rs 372.41 crore for the quarter ended September 30, mainly due to higher tax expenses and interest charges. Consolidated net sales during the quarter, however, rose by 6.9% to Rs 2,532.41 crore.