DLF Plans Super Luxury Housing Project in Gurugram, Aims For Rs 25,000 Crore Revenue

DLF, India's leading real estate developer, is launching an ambitious super luxury housing project in Gurugram. This project is expected to generate an impressive revenue of approximately Rs 25,000 crore. Located on the prestigious Golf Course Road in DLF Phase-5, this development spans over 17 acres and is designed to redefine luxury living with its ultra-premium offerings.

DLF Luxury Housing Project in Gurugram Overview

Following the renowned 'The Camellias,' this new project by DLF will feature about 420 apartments, each ranging from 9,500 to 15,000 square feet in size. This marks a significant step up in luxury, aiming to surpass the standards set by its predecessor. With a total developable area of around 50 lakh square feet, the project's massive scale promises to be a game-changer in luxury real estate.

Strategic Development and Phased Launch

Aakash Ohri, Joint Managing Director of DLF Home Developers, stated that construction will commence within this fiscal year, with an anticipated completion timeline of 4-5 years. DLF plans a strategic phased launch of the apartments, focusing on maintaining high prices and attracting quality customers. This approach ensures the project meets the expected revenue and upholds the luxury standards for which DLF is known.

Market Demand and Economic Implications

The luxury residential segment is a crucial component of DLF's business strategy, especially with the ongoing strong demand for high-end residential properties. Recent successes include the complete sell-out of 795 apartments in another Gurugram project for Rs 5,590 crore within three days of launch. Despite a slight 2% annual decrease in overall sales bookings, totaling Rs 14,778 crore compared to Rs 15,058 crore the previous year, new launches have significantly contributed to sales.

• DLF Privana South in Sectors 76/77 of Gurugram: Rs 7,200 crore
• Chandigarh Tri-city: Rs 1,200 crore
• Commercial SCOs (shop-cum-office): Rs 1,240 crore
• Independent floors in Gurugram: Rs 1,215 crore
• The Camellias' project: Rs 1,580 crore
• A land parcel in Chennai: Rs 735 crore

Financial Performance

DLF reported a robust 62% increase in consolidated net profit to Rs 920.71 crore for the quarter ending March 2024, up from Rs 570.01 crore in the same quarter of the previous year. The total income for this quarter rose to Rs 2,316.70 crore from Rs 1,575.70 crore year-on-year. For the full fiscal year 2023-24, DLF's net profit climbed to Rs 2,727.09 crore, up from Rs 2,035.83 crore in the preceding year. The total income grew to Rs 6,958.34 crore from Rs 6,012.14 crore.

Long-Term Vision and Contribution

DLF's vision extends beyond the immediate project. With a development potential of 215 million square feet across residential and commercial segments and an impressive annuity portfolio, the firm has already developed over 158 real estate projects covering more than 340 million square feet. This showcases its significant impact on India's urban landscape.

Conclusion

DLF's upcoming super luxury project in Gurugram underscores the company's continued focus on the luxury residential sector. With its massive projected revenue, strategic development phases, and alignment with market demand, the project is set to establish new benchmarks in luxury living in India. This development will further cement DLF's position as a leader in the Indian real estate market, delivering unparalleled opulence and exclusivity.

By maintaining high standards and leveraging its brand reputation, DLF is poised to cater to the high-end market segment effectively. This project not only promises to redefine luxury living but also showcases DLF's commitment to excellence in the real estate industry.

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