Banking on Phase 5 project, DLF provides sales guidance of Rs 2,700 cr

On the back of an expected sales launch of the second phase of its Ultima project in New Gurugram in the last quarter of 2019-20, India’s leading real estate developer DLF has provided a sales guidance of Rs 2,700 crore this year. 

Of these, Rs 1,000-1,200 crore is likely to come from its Phase 5 project, another Rs 800-1,000 crore from the rest of Gurugram projects, and another Rs 600 crore from its National Devco business, Ashok Tyagi, whole-time director and group chief financial officer at DLF, told analysts in a post-earnings call.

DLF has earmarked a capital expenditure of Rs 200 crore this year for its Chennai project. The office space project, which will be transferred to DLF’s rental arm, DLF Cyber City Developers, will see 4 million sq ft of development.

Talking about some of the capital expenditure lined up this year, Tyagi said the Chennai project of DLF, which will be later transferred to DLF Cyber City Developers (DCCDL), will see a capex of Rs 200 crore in the current financial year.

DLF holds 66.66 per cent in its rental arm DCCDL, after promoters sold 33.34 per cent for Rs 9,000 crore in 2017 to Singapore’s GIC.