DLF to launch projects worth Rs 1,500 cr by December

Realty major DLF today said it would launch projects which envisage an investment of up to Rs 1,500 crore by the end of this quarter with continued focus on sale of plots.

"We are going to launch 2.5 million sq ft of projects in Chandigarh having value of Rs 1,000 crore. By the end of December, we plan to launch projects with Rs 1,200-Rs 1,500 crore of value," DLF Group Chief Financial Officer Ashok Tyagi told analysts in a conference call.

In a presentation, the company said the pace of new launches would increase in the second half of this fiscal with total planned launches of 7-8 million sq ft.

"Given previous successes, focus on plotted launches will continue," DLF said in a presentation.

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 would launch 2.5-3 million sq ft of group housing projects in Gurgaon and Bangalore.

The company has launched one group housing project in Bangalore in October comprising 0.7 million sq ft with Rs 200-Rs 225 crore of value, he added.

Talking about its ongoing projects, DLF 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 half of this fiscal.

DLF's 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.