DLF targets 30% rise in sales bookings to ₹4,000 crore in FY22
Realty major DLF aims a 30% in its sales bookings to ₹4,000 crore this fiscal, as the company expects a 30% rise in housing demand despite the Covid-19 pandemic.
The company will launch various projects, comprising 8 million square feet of saleable area, to tap this growing demand for residential properties, especially those built by trusted developers.
In a conference call with analysts, DLF’S new CEO Ashok Kumar Tyagi gave sales bookings guidance of ₹1,000 crore per quarter during the current financial year.
During the fiscal year 2020-21, DLF sold residential properties worth ₹3,084 crore, up 24% from the previous year, despite muted sales in Apriljune 2020 due to a nationwide lockdown.
DLF’S Group chief financial officer (CFO) Vivek Anand said the company is committed to delivering on sales bookings guidance.
“Internally, we are gearing for even higher number,” Anand said adding that sales would be slow in the current quarter due to the second wave.
On supply, DLF’S CFO highlighted that the company targets to launch eight million square feet area in the current fiscal.
It is set to launch project in Delhi being developed in joint venture with Singapore sovereign wealth fund GIC.
After receiving good customer response for independent floors in Gurugram, DLF said it will launch more such products in the market for sale.
DLF senior executive director (business development) Aakash Ohri said the demand is there is all the housing segments—midincome and luxury.
He highlighted that monthly rentals in DLF’S luxury apartments are also high, generating good return for investors.