DLF makes a ₹2,000-crore bet on senior living in Gurugram this quarter

Realty major DLF on Friday said it will launch a senior living housing project in Gurugram this quarter, marking the company’s entry into the fast-emerging senior housing segment. The project is expected to have a revenue potential of around ₹2,000 crore.

 

The proposed launch is part of DLF’s broader expansion plan, even as the company navigates uneven sales momentum in the current financial year.

 

Speaking during a post-earnings conference call, Ashok Tyagi, Managing Director, DLF Ltd, said housing demand in Gurugram — the company’s core market — continues to remain strong, particularly for established and credible developers.

 

“We stay confident to meet the original sales bookings guidance,” Tyagi told analysts, reiterating the company’s pre-sales target of ₹20,000–22,000 crore for the current fiscal, despite muted sales in the December quarter.

 

Muted Q3 Sales Explained

 

DLF reported sales bookings of just ₹419 crore in the third quarter, a sharp drop from ₹12,039 crore in the year-ago period. Tyagi attributed the subdued performance to a conscious pause in sales at its ongoing ultra-luxury residential project, The Dahlias, and the absence of any new residential launches during the quarter.

 

On a cumulative basis, sales bookings declined 16% to ₹16,176 crore in the first nine months of the fiscal, compared with ₹19,187 crore a year earlier. In FY25, the company had achieved a record ₹21,223 crore in sales bookings.

 

Ultra-Luxury Projects Drive Pricing Power

 

Providing an update on the launch pipeline, Aakash Ohri, Managing Director of DLF Home Developers Ltd, said the company has resumed apartment sales at The Dahlias from the current quarter.

 

He noted that prices in the project have risen by over 25% compared to pre-launch levels, which were offered during October–December 2024. Ohri also revealed that a prominent NRI buyer has recently purchased a home in the project, though he declined to disclose the identity.

 

Launched in October 2024, The Dahlias is a 17-acre super-luxury development at DLF Phase 5, Gurugram, comprising 420 apartments and penthouses. As of December, around 220 units had been sold for ₹15,716 crore, underlining strong demand in the ultra-luxury segment.

 

Senior Living and Wider Expansion Plans

 

Beyond ultra-luxury housing, DLF’s planned senior living project in Gurugram signals a strategic diversification into a segment that is gaining traction amid changing demographics and rising demand for managed housing solutions for older buyers.

 

Later this year, the company also plans to launch projects across Gurugram, Mumbai, Panchkula and Goa, as it looks to sustain sales momentum.

 

DLF Group is primarily engaged in residential development and the leasing of commercial and retail properties. The company has developed over 185 projects spanning more than 352 million square feet, with a development potential of around 280 million sq ft across residential and commercial segments. Its annuity portfolio currently stands at over 49 million sq ft.