DLF Sells 1,164 Luxury Homes in Gurugram for ₹11,000 Cr

New Delhi, Jun 18 (PTI) Real estate major DLF Ltd has sold all 1,164 luxury apartments for about Rs 11,000 crore within a week of launch of its new housing project in Gurugram, reflecting that demand continues to be strong for premium residential properties from end-users and investors.

In a regulatory filing on Wednesday, DLF announced "sell out of its latest luxury offering, DLF Privana North, valued at approximately Rs 11,000 crore, a historic milestone achieved within just one week."

The project is part of a 116-acre integrated township -- DLF Privana in Sectors 76 and 77, Gurugram.

The new project 'DLF Privana North' spans 17.7 acres and comprises 1,152 flats (4BHK) and 12 penthouses. The project has six towers rising to stilt+50 storeys, the tallest residential structures to be developed by DLF till date.

Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, said, "The development embodies DLF's vision of delivering expansive living spaces, breathtaking views, and privacy in the sky."

The strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects, he added.

"We saw interest from buyers across India and around the world," Ohri said.

Earlier sources had said, DLF will invest around Rs 5,500 crore to develop this new luxury housing project in Gurugram.

In this 116-acre township, the company had last year launched and completely sold out two projects -- 'DLF Privana West' and 'DLF Privana South' -- for around Rs 12,800 crore.

In May 2024, DLF sold all 795 apartments for Rs 5,590 crore within three days of the launch of its 12.57-acre project 'Privana West'.

Before that, in January 2024, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre.

The new project will be the third one in this large township.

DLF, the country's largest real estate firm in terms of market capitalisation, reported a record sales bookings of Rs 21,223 crore in the 2024-25 fiscal, an increase of 44 per cent from Rs 14,778 crore in the preceding financial year.

DLF's MD Ashok Tyagi recently gave sales bookings guidance for the current fiscal at Rs 20,000-22,000 crore, almost in the same range as last financial year.

To achieve this target, DLF plans to launch housing properties worth more than Rs 17,000 crore this fiscal year amid strong demand for luxury homes.

Besides new launches, the company has inventories in its ultra luxury housing project 'The Dahlias' in DLF Phase 5, Gurugram.

In its latest investor presentation, DLF informed that the company launched 7.5 million square feet during the last fiscal for sale with an estimated revenue potential of Rs 40,600 crore. Out of this, the company sold 5 million square feet of area in the last financial year itself for Rs 19,344 crore. In the 2024-25 fiscal, DLF launched its super luxury project 'The Dahlias' with a total saleable area of 4.5 million sq ft and sales potential of Rs 35,000 crore.

Last month, DLF said the company has received encouraging demand for The Dahlias project, generating Rs 13,744 crore worth of sales bookings during the last fiscal.

The company remains optimistic about the sustained housing demand and would continue to capitalise on this momentum by introducing calibrated offerings of new products from a strong and well-diversified pipeline.

On financial performance, DLF's net profit increased to Rs 4,366.82 crore during the 2024-25 fiscal from Rs 2,723.53 crore in the preceding year.

Total income rose to Rs 8,995.89 crore in the last fiscal from Rs 6,958.34 crore in the 2023-24 financial year.

Since its inception, DLF has developed more than 185 real estate projects and developed an area of more than 352 million square feet.

DLF Group has 280 million square feet of development potential across the residential and commercial segments, including current projects under execution and the identified pipeline.

The group has an annuity portfolio of over 45 million square feet.

DLF is primarily engaged in the business of the development and sale of residential properties (the Development Business) and the development and leasing of commercial and retail properties (the Annuity Business).