DLF to Launch Residential Projects Worth over Rs 60,000-crore in 5 Years, Work on ‘By-invitation’ Goa Project to Begin Soon

In the next five years, DLF Limited plans to launch Rs 60,000-crore worth of residential projects, including apartments and luxury villas, the company said.

Addressing an analyst call, DLF’s chief financial officer Badal Bagri said that the real-estate developer is targeting 37 million square feet (msf) of projects, worth Rs 1.14 lakh crore, over the medium term.

Work on projects worth over Rs 50,000 crore has already begun and the rest would be launched in the medium term. According to a Moneycontrol report, these projects are expected to come up in Gurugram, Panchkula, Mumbai, and Goa where an “uber-luxury villa project” would likely go on the floor in the current or the next quarter.

Additionally, the developer has launched around 7.5 msf projects worth Rs 40,600 crore until FY25. In the first half of this financial year, another 5.7 msf worth Rs 13,685 crore were launched, as per an investor presentation.

The remaining 24-msf projects priced at around Rs 60,215 crore, will be launched in the medium term. Out of the 24-msf, the real estate developer is planning to launch around 1-msf projects having sales potential of Rs 2,500 crore under its super-luxury category, including projects like 'The Dahlias', while 21-msf projects worth Rs 55,000 crore will fall under its luxury housing category such as 'The Privana' ecosystem.

The company also mentioned that another 2.3-msf projects, with sales potential of Rs 2,000 crore, would be launched under premium housing category. Commercial projects worth Rs 715 crore are also in the pipeline.

According to DLF MD Ashok Tygai, the company has a very strong launch pipeline and in next 18 months, several projects will be launched across different locations.

He stated, “In next 18 months we have several projects coming up, which include Arbour 2 senior living, The Dahlias phase-2, Westpark-2 (Mumbai), Goa project, Hamilton, and next phases of Privana among others.”

Joint managing director and chief business officer at the company Aakash Ohri said that DLF’s much-awaited Goa project is in advanced stage and it is likely to be launched in this quarter or the next.

Priced between Rs 40 crore and Rs 50 crore, the “by-invitation” project will feature around 62 luxury villas in the Reis Magos area. It will be developed on a 38-acre hill facing Mandavi River.

DLF reported a 54.7 percent quarter-on-quarter (QoQ) jump in its consolidated net profit at Rs 1180.09 crore, the company said on October 30. The profit, however, was down 14.5 percent from the year-ago period.