Page 8 - Dlf

DLF's FY24 sales down 2% to Rs 14,778 crore due to subdued March qtr

India's largest realty firm DLF's sales bookings declined 2 per cent annually to Rs 14,778 crore during the last fiscal year due to a subdued March quarter, which did not see any major project launch despite strong housing demand. Its sales bookings stood at record Rs 15,058 crore in the preceding year. According to an investors presentation, DLF's sales bookings in the fourth quarter of the 2023-24 fiscal fell to Rs 1,462 crore from Rs 8,458 crore in the year-ago period as it did not launch any big projects for sale. Giving details about sales in the last fiscal, DLF said that 82 per cent contribution came from new launches. Out of the total sales bookings, its luxury housing project 'DLF Privana South' at Sector 76/77, Gurugram contributed Rs 7,200 crore. The company achieved a sales bookings of around Rs 1,200 crore from Chandigarh Tri-city. It also sold commercial SCOs(Shop-com-office) for about Rs 1,240 crore. Independent floors in Gurugram were sold for Rs 1,215 ...

Stocks to watch on May 14: Shriram Finance, Zomato, DLF, TCS, Maruti Suzuki

Shriram Finance announced that board has approved the sale of its housing finance subsidiary Shriram Housing Finance to Warburg Pincus for Rs 4,630 crore

DLF Q4 results: Net profit up 62% at Rs 920 cr, total income at Rs 2,316 cr

Realty major DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to Rs 920.71 crore in the quarter ended March on higher income amid strong housing sales. Its net profit stood at Rs 570.01 crore in the year-ago period. Total income rose to Rs 2316.70 crore in the fourth quarter of 2023-24 fiscal from Rs 1,575.70 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24 fiscal, the company's net profit increased to Rs 2,727.09 crore from Rs 2,035.83 crore in the preceding year. Total income grew to Rs 6,958.34 crore during the last fiscal from Rs 6,012.14 crore in the 2022-23 financial year. DLF is the country's largest real estate firm in terms of market capitalisation. It has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of future development potential across residential and commercial segments. DLF group is

DLF sells all 795 flats for Rs 5.6K cr in Gurugram within 3 days of launch

Realty major DLF on Thursday said it has sold all 795 apartments for Rs 5,590 crore within three days of the launch of its new luxury housing project in Gurugram amid strong consumer demand. In a regulatory filing, the company informed the success of its latest luxury residential project 'DLF Privana West' "achieving a remarkable sellout valued at approximately Rs 5,590 crore, within 3 days." The new project is spread over 12.57-acre comprising 795 apartments. In January this year, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre. Both 'DLF Privana West' and 'DLF Privana South' are part of 116-acre 'DLF Privana' township located in Sector 76 and 77. Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, said, "After the overwhelming success of DLF Privana's inaugural project DLF Privana South, 'DLF Privana West' emerges as t

NRIs galore: DLF sells 795 flats priced at Rs 7 cr in Gurugram in 3 days

The project with 795 apartments valued at approximately Rs 5590 crore, sold out entirely within just three days.

Deep Kalra joins bandwagon: DLF's Camellias is now a billionaire boulevard

Deep Kalra has bought a 7430 square foot (sqft) apartment for Rs 46.25 crore and paid a stamp duty of Rs 2.77 crore.

DLF plans to invest Rs 2,200 crore to build shopping mall in Gurugram

Realty major DLF has started construction of its new 26-27 lakh square feet shopping mall in Gurugram at a cost of around Rs 2,200 crore as part of its expansion plan amid rebound in retail consumption post-COVID pandemic. At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC. "We have started construction work of 'Mall of India' in Gurugram. The total size of this mall is 26-27 lakh square feet," DLF's Vice Chairman and MD (Rental Business) Sriram Khattar told PTI on the sidelines of a CII conference on the real estate sector. When asked about investment, he said it would be around Rs 2,200 crore. Khattar said the company is bullish on the growth of the retail sector, which will lead t

DLF plans to raise Rs 600 crore through issue of debentures to investors

Realty firm DLF Ltd is raising Rs 600 crore through issue of non-convertible debentures (NCDs) to investors for refinancing of its existing debts. In a regulatory filing on Wednesday, DLF informed that the company's wholly owned subsidiary DLF Home Developers Ltd has raised this amount. The Securities Allotment Committee of the Board of Directors of DHDL has approved the allotment of 60,000 NCDs, having face value of Rs 1 lakh each, for an aggregate principal amount of Rs 600 crore on a private placement basis to eligible investors. DLF, the country's largest real estate developer in terms of market capitalisation, did not mention where the amount would be utilised. Sources said the amount will be utilised for refinancing its existing debts. DLF Group has 215 million square feet of development potential across residential and commercial segments. The group has an annuity portfolio of over 42 million square feet. The company's sales bookings jumped two times annually to Rs 13,316

Improving leasing trends to support and lay bricks of value for Reits

Grand Design: New SEZ rules and rising GCC leasing set to elevate occupancies and rentals, benefiting Reits and office-focused developers

DLF to launch properties worth Rs 80k cr in 4 yrs to encash surge in demand

Realty major DLF plans to launch properties worth nearly Rs 80,000 crore over the next 3-4 years to tap rising demand for housing and commercial projects. DLF, the country's largest real estate firm in terms of market cap, sold properties worth Rs 15,000 crore during 2022-23 and is set to surpass this number in the current fiscal going by sale bookings clocked in the first three quarters. According to an investors presentation, DLF is aiming to launch 10 million square feet of area in the next financial year having revenue potential of Rs 32,000 crore. It has also identified another 22 million square feet area with an estimated revenue of Rs 46,850 crore for 2024-25 fiscal and beyond. Most of the projects to be launched for sale over the next 3-4 years would be residential and that too in luxury and ultra luxury segments. Delhi-NCR, Mumbai, Goa and Chennai would be the focus area of the company. Recently, DLF Group Chief Financial Officer (CFO) Vivek Anand told analysts that the

V Bazaar CMD's wife buys 10,000 sq ft DLF flat in Gurgaon for Rs 95 crore

The apartment size is 10,813 sq ft and it comes with five car parkings, the document showed.

Strong launch pipeline factored into realty major DLF's valuations

The rental income in DCCDL's commercial portfolio increased by 8 per cent YoY to Rs 1,100 crore with a 21 per cent rise in retail income

Rana Talwar, first Indian to head a global bank, passes away at 76

Veteran banker Rana Talwar, who was the first Indian to head a global bank -- Standard Chartered Plc, died at the age of 76 years. Talwar, son-in-law of DLF Group chairman emeritus K P Singh, breathed his last on Saturday, sources said. He is survived by his wife Renuka and son Rahul. Besides DLF, he served on the boards of various companies including Asahi India Glass Limited and Great Eastern Energy Corporation Limited. The company regrets to inform about the sad demise of Talwar, a non-executive director, on Saturday, January 27, 2024, which was intimated to the company by the family members, DLF said in a regulatory filing. Born in 1948, Talwar started his career as a banker in India with Citi Bank after passing out of the prestigious St Stephens College, Delhi. During his stint at Citi Bank, Gurvirendra Singh Talwar also known as Rana Talwar, was responsible for building the US-based bank's retail businesses across Asia Pacific and the Middle East. He was subsequently respon

DLF to buy 29 acres land in Gurugram for over Rs 825 cr for housing project

Realty major DLF Ltd will acquire 29 acres of land in Gurugram from IREO to build a housing project after taking over bad loans worth Rs 825 crore related to the land. A senior official of DLF said the total consideration for the 29 acres of land will exceed Rs 825 crore. The land has been mortgaged by realty firm IREO with some financial institutions. DLF plans to develop a group housing project on the land located on Golf Course Extension in Gurugram, Haryana. In a regulatory filing on Thursday, DLF said it has entered into an agreement with Standard Chartered Bank, Singapore Branch, DB International (Asia), Singapore and Deutsche Investments India (lender/bond holder). From these lenders, DLF has agreed to buy non-convertible, redeemable bonds issued by IREO (bond issuer). "We have been working with the two lenders and the developer for almost 12 months trying to structure this transaction. Today, we have signed the documents to acquire the debt from these two lenders," DLF MD

DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why

Most positive factors in terms of a pick-up in housing demand and office space absorption, CLSA said, are already priced in.

DLF sales bookings jump 2-fold to Rs 13,316 cr in Apr-Dec on high demand

Realty major DLF Ltd's sales bookings jumped two times annually to Rs 13,316 crore during the first nine months of this fiscal, mainly on high demand for its luxury housing properties in Gurugram. During the April-December period of the previous fiscal, the company's sales bookings stood at Rs 6,599 crore. In the 2022-23 fiscal, DLF's sales bookings stood at a little over Rs 15,000 crore, and it is likely to clock higher numbers in the current fiscal. On Wednesday, the company reported a more than three-time increase in its sales booking to Rs 9,047 crore in the December quarter as against Rs 2,507 crore in the year-ago period. This is the highest quarterly sales booking achieved by the company. The record sales bookings in the third quarter were mainly driven by sales of 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the pre-launch last month. In the third quarter of 2023-24, DLF launched three new projects --two in Gurugram and one in ...

DLF's consolidated net profit rises 27% to Rs 656 cr in December quarter

Realty major DLF Ltd on Wednesday reported a 57 per cent increase in its consolidated net profit to Rs 463.66 crore in the third quarter of this fiscal year on the back of higher total income. Its net profit stood at Rs 294.86 crore in the year-ago period. Total income rose to Rs 1,117.40 crore in the latest December quarter from Rs 973.89 crore in the year-ago period, according to a regulatory filing. DLF is India's largest real estate in terms of market capitalisation.

Realty reality: Will luxury housing in India lose its sheen in 2024?

Luxury housing in India witnessed a record-breaking year in 2023 as the sales of such homes touched an all-time high. Now, is the demand for these costlier homes likely to continue in 2024 as well?

DLF sells 1,113 luxury flats for Rs 7,200 cr within 3 days in Gurugram

Realty major DLF on Monday said it has sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of pre-launch amid strong demand for residential properties. In a regulatory filing, DLF announced "pre-formal launch sales of approximately Rs 7,200 crore for its latest luxury residential development, DLF Privana South in Gurugram." In March last year, DLF had sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days. Now, DLF has launched new project 'DLF Privana South' which is spread over 25 acre in Sectors 76 and 77, Gurugram. "This luxury residential offering by DLF was sold out within 72 hours, in its pre-launch phase," DLF said. The project will comprise 1,113 luxury residences across 7 towers, presenting 4 BHK apartments and penthouses. DLF Privana South will be part of a larger development, "DLF Privana" spread over 116 acre. Aakash Ohri, Joint Managing Director and Chief Business

Signature Global Q3 bookings up 47% to Rs 1,263 cr on better housing demand

Realty firm Signature Global on Monday reported 47 per cent increase in its sales booking to Rs 1,262.73 crore for the third quarter of this fiscal on strong housing demand. Its sale bookings stood at Rs 856.77 crore in the year-ago period. In a regulatory filing, Signature Global said the company sold 1,179 units in October-December period of this fiscal as against 1,089 units in the year-ago period. In terms of volumes, sale bookings rose to 1.31 million square feet in the third quarter of this fiscal from 1.10 million square feet in the year-ago period. During April-December 2023-24 , Signature Global achieved 41 per cent growth in sale bookings to Rs 3,124.12 crore from Rs 2,209.78 crore in the year-ago period. It sold 3,135 units in the first nine months of this fiscal, marginally up from 3,113 units in the corresponding period of the previous year. In volume terms, sale bookings grew 9 per cent to 3.2 million square feet during April-December of this fiscal from 2.94 millio