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DLF, a prominent player in the Indian real estate sector, has set forth ambitious plans for the fiscal year 2025, announcing its intention to launch 10 million square feet of properties. Anticipating a significant revenue boost, the company aims to generate around INR 24,200 crore from these new developments. Notably, this expansion strategy encompasses regions beyond DLF's primary markets, with projects slated for Chennai, Goa, and Mumbai in addition to its well-established presence in Gurugram and Panchkula.
A portion of this planned development—approximately 5.8 million square feet—is dedicated to the super luxury segment, reflecting DLF's recognition of the high demand and lucrative opportunities in the high-end real estate market. Aakash Ohri, Joint Managing Director and Chief Business Officer at DLF Home Developers, emphasised the immense potential in both luxury and super luxury segments across diverse geographies. The development sequence is set to commence with launches in Gurugram, followed by Mumbai and Chennai in subsequent phases.
In Gurugram, DLF is gearing up for the launch of the second phase of Privana, building on the success of the initial phase, which witnessed a rapid sell-out within days of its launch. Additionally, the company plans to introduce a super luxury project in DLF-5, where the market rate for its properties has already risen to INR 100,000 per square foot, showing the strong demand for high-end real estate offerings.
Expanding its footprint further, DLF is set to re-enter the Mumbai market in the fiscal year 2025. The company's strategy involves tapping into the luxury segment in both Chennai and Goa, aligning its offerings with the distinctive preferences and demands of each market.
Aakash Ohri, during discussions with investors, emphasised the evolving dynamics of the residential real estate landscape, highlighting a notable shift in the preferences of the younger generation. Previously inclined towards rental living, individuals aged 30 and above are increasingly leaning towards homeownership, presenting a significant market shift that DLF is strategically meant to leverage.
The company's strong financial performance in the December quarter, marked by a 26% increase in net profit, has positioned DLF favourably as it embarks on these ambitious expansion plans. With a net profit of INR 648 crore for the quarter and high sales bookings amounting to INR 9,047 crore, DLF continues to demonstrate resilience and agility in navigating the dynamic real estate market in India.
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