Realty major DLF Ltd has revised upwards its sales revenue potential by 17 per cent to Rs 47,000 crore from 35 million square feet of planned new launches of housing and commercial projects in the medium term.
In an analyst presentation, DLF mentioned that it has planned the launch of 35 million square feet project in the medium term.
Giving update on its development business, DLF said: "Launch calendar of 35 million square feet. Sales potential Rs 47,000 crore; value enhancement (around 17 per cent)- driven by price growth.”
In the presentation for the second quarter of this fiscal, DLF had mentioned sales potential of Rs 36,000-40,000 crore.
In its Q3 presentation, DLF has given the breakup of the Rs 47,000 crore sales potential.
It is expecting Rs 17,500 crore sales revenue from its 8 million square feet luxury housing project being developed in joint venture with Singapore sovereign wealth fund GIC.
DLF eyes another Rs 12,500 crore from 10 million square feet of premium luxury housing while Rs 5,000 crore from value homes in Gurugram, Chandigarh tri city and Chennai.
DLF said it expects Rs 7,000 crore from its office joint venture project with Hines and Rs 2,500 crore an IT park in Noida.
The remaining Rs 2,500 crore will come up from commercial projects in Delhi and Gurugram.
According to the presentation, the company has already launched 5 million square feet so far out of the planned 35 million square feet.
Another 3.5 million square feet will be launched during the current quarter.
In the next fiscal, DLF plans to launch 7.6 million square feet, while 9.2 million square feet is planned for 2023-24.
The remaining 10.2 million square feet will be launched in subsequent years.
These projects will be launched at established locations with infrastructure in place.
Earlier this week, DLF reported a 15 per cent fall in its consolidated net profit to Rs 379.49 crore for the quarter ended December 2021.
Its net profit stood at Rs 449 crore in the corresponding quarter last year.
Total income during the October-December 2021 quarter grew marginally to Rs 1,686.92 crore, compared with Rs 1,668.22 crore in the year-ago period.
DLF’s net profit fell despite higher income because of a provision of an exceptional item of Rs 224 crore.
Net profit increased to Rs 1,094.78 crore during the April-December 2021 period, from Rs 605.23 crore in the year-ago period.
Total income rose to Rs 4,485.72 crore in the first nine months of this fiscal, from Rs 4,038.30 crore in the corresponding period of the previous year.
DLF clocked record new sales in the December quarter amounting to Rs 2,018 crore, reflecting annual growth of 97 per cent.
DLF said the residential markets continued to exhibit improving demand trends and the trend would continue in the long term.
"Given this positive outlook and strong support from fundamental drivers, we continue to leverage this upcycle by scaling up our new product offerings across segments and geographies,” DLF had said in a statement.
Price growth coupled with increasing volumes would lead to further margin expansion in the portfolio, it added.
DLF has developed 153 real estate projects and has built an area of about 330 million square feet.
It has 215 million square feet of development potential across residential and commercial segments.
The group has an annuity portfolio of over 35 million square feet.
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