DLF targets 10% rise in sales bookings for FY20 at Rs 2,700 crore

Realty major DLF is targeting a 10 per cent increase in sales bookings for the current financial year at around Rs 2,700 crore, on hopes of increase in housing demand.

Sales bookings of the company more than doubled to Rs 2,435 crore in 2018-19 from Rs 1,000 crore in the previous year.

"Targeting sales of Rs 2,700 crore in 2019-20 (i.e. 10 per cent increase over 2018-19)," DLF said in an analyst presentation.

DLF has an unsold inventory of around Rs 11,650 crore, it added.

"The company continued to see good sales in the residential segment. We have started monetising our ready to occupy inventory across the country in the premium and luxury segments," DLF said.

The company is now gearing towards the next cycle of development and is planning to build 17 million sq ft of residential and commercial space in the near future.

Earlier this week, DLF reported a 76 per cent jump in consolidated net profit to Rs 436.56 crore for March quarter from Rs 247.73 crore in the year-ago period.

Total income rose to Rs 2,660.95 crore as compared with Rs 1,845.92 crore in the year-ago period.

For entire 2018-19, net profit declined to Rs 1,319.22 crore from Rs 4,463.86 crore in the previous fiscal. The drop in profit was because of exceptional gain from sales of rental business in 2017-18.

However, total income rose to Rs 9,029.41 crore in the last fiscal from Rs 7,663.71 crore in 2017-18.