DLF plans to launch ₹7,500 crore worth premium housing project in Gurugram.

Realty major DLF Ltd. plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around ₹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 a premium residential project in Sector 63 Gurugram next month. The estimated sales realisation of this project will be around ₹7,500 crore," he said.

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

DLF, achieved a 45 per cent growth in sales bookings to ₹6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of ₹8,000 crore.

DLF's sales bookings stood at ₹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. He said the company has launched apartments and independent floors at different price points, which helped to achieve better sales.

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

Asked about sales bookings for the entire fiscal, Ohri said the company has given a guidance of ₹8,000 crore for the 2022-23 fiscal and is expected to achieve it comfortably.

"We are on track to meet our sales booking targets. We may even do better than that. But we are sticking to our guidance," he added.

"Demand is very strong. People have the desire and money to purchase real estate. Customers want the safety of their money. So, they are now investing in projects of trusted real estate developers like us," Ohri said.

DLF achieved one of the highest quarterly new sales bookings of ₹2,507 crore during October-December period, reflecting a year-on-year growth of 24 per cent.

In its investors' presentation, DLF said it will give emphasis on offering customer-oriented products. "Encouraging response to recent products enthuses us to initiate larger developments offering differentiated living and best-in-class amenities," the statement said.

The focus would remain on strong cash generation and margin accretion by offering quality products at established locations, DLF said.

HBL