DLF to speculate ₹23,500 cr to finish ongoing housing tasks in NCR, Mumbai
New Delhi, Aug 8 (PTI) India’s largest realty agency DLF Ltd will make investments ₹23,500 crore to finish its residential tasks which have already been launched throughout Delhi-NCR and Mumbai.
Based on an investor’s presentation, the “whole pending price” to finish all launched tasks is estimated at ₹23,500 crore.
To satisfy its pending building spend, DLF talked about that the corporate has a money steadiness of ₹10,429 crore, of which ₹7,782 crore is parked within the escrow account of the Actual Property Regulatory Authority (RERA).
That aside, the corporate has receivables of ₹37,220 crore from its clients towards residential properties bought to them.
In a latest convention name with market analysts, DLF Group Chief Monetary Officer (CFO) knowledgeable that the corporate invested round ₹750 crore in building in the course of the first quarter of this yr. He stated the quantity would go up barely within the coming quarters.
Put up-COVID pandemic, DLF has launched many residential tasks in Delhi-NCR, Mumbai and the tri-city of Chandigarh.
In the course of the present July-September quarter, DLF Ltd and Trident Realty launched a housing undertaking comprising 416 flats in Mumbai and in addition bought all items for round ₹2,300 crore.
Within the first quarter, the corporate launched and bought all 1,164 luxurious residences for about ₹11,000 crore in its new housing undertaking ‘DLF Privana North’ in Gurugram. This undertaking is a part of its 116-acre township.
Final yr, DLF had on this township launched and fully bought out two tasks — ‘DLF Privana West’ and ‘DLF Privana South’ — for round ₹12,800 crore.
These new launches have helped DLF in attaining report gross sales bookings over the past fiscal yr, and the corporate is focusing on to repeat its efficiency.
DLF’s gross sales bookings stood at a report ₹21,223 crore within the final fiscal as towards ₹14,778 crore within the 2023-24.
In the course of the 2022-23 fiscal, the corporate’s gross sales bookings stood at ₹15,058 crore.
For the present monetary yr, DLF has given a gross sales bookings steerage of ₹20,000-22,000 crore, and it has already bought properties value ₹11,425 crore within the first quarter of this fiscal.
DLF Group is primarily engaged within the enterprise of the sale of residential properties (growth enterprise) and leasing of business and retail properties (annuity enterprise).
The Group has developed greater than 185 actual property tasks comprising a complete space of greater than 352 million sq ft. It additionally has an annuity portfolio of 46 million sq ft.
DLF has 280 million sq ft of growth potential throughout the residential and business segments, together with present tasks underneath execution and the recognized pipeline.
