DLF Ltd, plans to invest Rs 23,500 crore to finalize its residential projects that have already been initiated in the Delhi-NCR and Mumbai regions. As per an investor presentation, the “total pending cost” required to complete all launched projects is projected to be Rs 23,500 crore.
To address its outstanding construction expenses, DLF has reported a cash reserve of Rs 10,429 crore, with Rs 7,782 crore allocated in the escrow account of the Real Estate Regulatory Authority (RERA).
Additionally, the firm has receivables amounting to Rs 37,220 crore from customers for residential properties sold to them. In a recent conference call with market analysts, the Chief Financial Officer (CFO) of DLF Group disclosed that the company invested approximately Rs 750 crore in construction during the first quarter of this year. He indicated that this figure is expected to increase slightly in the upcoming quarters. Following the COVID-19 pandemic, DLF has introduced numerous residential projects in Delhi-NCR, Mumbai, and the tri-city area of Chandigarh.
In the ongoing July-September quarter, DLF Ltd, in collaboration with Trident Realty, launched a housing project consisting of 416 flats in Mumbai, successfully selling all units for around Rs 2,300 crore. During the first quarter, the company launched and sold all 1,164 luxury apartments for approximately Rs 11,000 crore in its new housing project ‘DLF Privana North’ located in Gurugram.
This project is part of a larger 116-acre township. Last year, within this township, DLF launched and completely sold two projects — ‘DLF Privana West’ and ‘DLF Privana South’ — for a total of around Rs 12,800 crore. These recent launches have enabled DLF to achieve record sales bookings in the previous fiscal year, and the company aims to replicate this success.
DLF’s sales bookings reached an unprecedented Rs 21,223 crore in the previous fiscal year, compared to Rs 14,778 crore in 2023-24. In the fiscal year 2022-23, the company’s sales bookings amounted to Rs 15,058 crore. For the ongoing financial year, DLF has projected a sales bookings target of Rs 20,000-22,000 crore, having already sold properties valued at Rs 11,425 crore in the first quarter of this fiscal year. DLF Group primarily focuses on the sale of residential properties (development business) and the leasing of commercial and retail properties (annuity business).
The Group has successfully developed over 185 real estate projects, covering a total area exceeding 352 million sq ft. Additionally, it possesses an annuity portfolio of 46 million sq ft. DLF has a development potential of 280 million sq ft across both residential and commercial sectors, which includes current projects in progress and the identified pipeline.
