Despite lower Q1 bookings, DLF on course to hit FY24 sales target

The company maintained its pre-sales guidance of Rs 12,000 crore to Rs 13,000 crore, riding on 11.2 million square feet of launches

From its weekly high, the stock of India’s largest listed player by market capitalisation -- DLF -- slipped 5.5 per cent. Lack of new launches meant that bookings/pre-sales for the June quarter of the 2023-24 financial year (Q1FY24) were flat as compared to the year ago quarter, and down 76 per cent on a sequential basis.

Pre-sales at Rs 2,040 crore was largely from existing inventory projects such as the luxury offering Camellia (Rs 564 crore), One Midtown Delhi (Rs 659 crore) and independent floors in Gurugram (Rs 486 crore). The three together accounted for 83.7 per cent of the