DLF plans to launch Rs 7500cr project in Gurugram in Feb

New Delhi: Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs.7,500 crore as it seeks to tap strong demand for high-end apartments.

The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI.

"We are planning to launch next month a premium residential project in Sector 63 Gurugram. The estimated sales realisation of this project will be around Rs.7,500 crore," he said.

"Demand for real estate across various price points is very strong, especially for products offered by trusted developers," Ohri said.

DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs.6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs.8,000 crore.

DLF's sales bookings stood at Rs 4,544 crore in the year-ago period.

"We have achieved robust growth in our sales bookings in the first nine months of this fiscal year. The sales are driven by demand for good quality products," Ohri said.

DLF has launched residential projects in Delhi, Gurugram, Panchkula and Chennai this fiscal.

DLF on Wednesday reported a 37 per cent increase in its consolidated net profit at Rs.519.21 crore for the quarter ended December 2022. Its net profit stood at Rs.379.48 crore in the year-ago period.

Its total income, however, fell to Rs 1,559.66 crore in the third quarter of this fiscal year from Rs 1,686.92 crore in the corresponding period of the previous year.