DLF Ltd. has unveiled plans to broaden its housing and commercial property ventures by entering new markets in Mumbai and Goa. This strategic initiative aims to leverage the increasing demand for luxury homes and commercial spaces in these areas, as noted in the company’s annual report.
DLF’s Chairman, Rajiv Singh, highlighted the strong market response to the company’s offerings as a key factor behind the expansion. “The market’s response to our products continues to be very encouraging. It is with this conviction that we are entering new geographies like Mumbai and Goa,” stated Mr. Singh. The company has experienced a rise in new sales bookings and record sales collections, further validating its decision to explore these new markets.
While continuing to launch new projects in the Delhi-NCR region, DLF’s strategic expansion into Mumbai and Goa reflects its commitment to meeting the aspirational needs of a diverse customer base. By introducing a variety of offerings, DLF aims to cater to the evolving demands of the market.
Over the past two financial years, DLF has achieved strong sales bookings, driven by a notable increase in demand for its luxury homes. In the 2022-23 fiscal year, the company recorded sales of ₹15,058 crore, followed by ₹14,778 crore in the 2023-24 fiscal year. For the current fiscal year (2024-25), DLF has set an ambitious sales booking target of ₹17,000 crore, aiming for a 15% growth rate. This growth will be supported by the launch of multiple luxury housing projects across Gurugram, Goa, and Mumbai.
In addition to its residential projects, DLF’s commercial business, which includes the development of office buildings and shopping centers, continues to perform well. The company has reported increased occupancy levels across its commercial portfolio. To support this growth, DLF is investing in capital expenditure for new developments in Gurugram, Chennai, Delhi, and Goa.
“This is a long gestation business, and the arduous work we have put in over the last decade has helped us to be in the strong position we are in today,” noted Mr. Singh. The company is also focusing on talent acquisition and strengthening internal policies to ensure robust support for its growth ambitions.
Mr. Singh also discussed the broader economic landscape, noting that the Indian economy has achieved a broad-based recovery across sectors and exceeded its pre-pandemic growth trajectory. “Over the last decade, wide-ranging structural and governance reforms have strengthened the economy’s fundamentals, making India a shining star in the global economy. The sustained growth momentum reaffirms the ability of the Indian economy to grow faster than ever,” he said.
The Chairman praised the continuity of governance under Prime Minister Narendra Modi’s leadership, marking a milestone in good governance. He believes that the third term of the Modi government will result in faster policy rollouts and accelerated growth. The government’s substantial investments in infrastructure, highways, railways, electrification, and other sectors are seen as crucial to achieving the Prime Minister’s vision for ‘Viksit Bharat 2047,’ coinciding with India’s 100th year of independence.
DLF aims to play a significant role in India’s economic progress, with the real estate sector expected to be a major contributor to employment and macroeconomic growth. By focusing on operational excellence, corporate governance, and the values established by its founders, DLF seeks to achieve long-term sustainable growth for all its stakeholders while continuing to expand its presence in India’s burgeoning real estate market.
