Real estate major DLF eyes Rs 74k cr in sales from new housing projects

Realty major targeting luxury housing market with products totalling 26 million square feet in pipeline

Real estate major DLF is planning to launch residential projects with an estimated sales potential of Rs 73,900 crore in the medium term, according to the company’s corporate presentation uploaded on the Bombay Stock Exchange (BSE).

 

The projects span various segments including commercial, premium, luxury and super luxury, with a total area of 29 million square feet (msf).

 

Of this, luxury projects form the largest share at 26 msf, with a total sales potential of Rs 68,400 crore. Projects expected to be launched in the coming years include 2.3 msf in the ultra-luxury segment and 1 msf in the premium segment.

 

The company will also invest Rs 20,000 crore to complete already launched residential projects covering 7.5 msf, as per the presentation. 

 

DLF further stated that it expects to generate around Rs 50,000 crore in total surplus cash potential from launched and upcoming projects in the medium term.

 

It said it has a strong pipeline of new products expected to deliver steady sales bookings. “We have a high-quality land bank, sufficient for sustainable growth for the next 20 years,” the company noted.

 

DLF is primarily engaged in residential projects, classified under the development business, and in leasing commercial properties, classified as the annuity business.

 

For its annuity business, DLF plans to invest around Rs 20,000 crore in the medium term to develop commercial properties, including 21 msf of office space and 8 msf of retail space.

 

The company said it has a strong operational portfolio of around 44 msf of rental assets, with an occupancy rate of 93 per cent in its annuity business. “The portfolio is set to reach 73 msf in the medium term,” it added in the corporate presentation.

 

These commercial assets will be developed under DLF, DLF Cyber City Developers (DCCDL)—a joint venture (JV) between DLF and Singapore’s sovereign wealth fund GIC—and the company’s JV with United States-based Hines, Atrium Place.

 

In its investor presentation for the third quarter of financial year 2024-25 (Q3 FY25), DLF said DCCDL has commenced construction of 5.5 msf of Grade A-plus office space in the new phase of its integrated mixed-use commercial project, DLF Downtown, Gurugram.

 

Under the same project, DCCDL has also begun construction of the Mall of India in Gurugram, with a total area of 2 msf.

 

DLF has so far developed more than 185 real estate projects and over 352 msf of built-up area since inception. The group has 220 million square feet of development potential across its development and annuity businesses, as per its Q3 FY25 investor presentation.