DLF sells 551 unbiased flooring in Gurugram since October 2020 for over Rs 1,200 cr on higher demand

Realty main DLF Ltd has bought 551 luxurious unbiased flooring in Gurugram since October final yr for over Rs 1,200 crore and is planning to launch extra such residential models this fiscal to encash robust demand, a senior firm official mentioned on Sunday.

In an interview with PTI, DLF House Builders Ltd Senior Government Director Aakash Ohri expressed confidence that the corporate would obtain its gross sales steerage of common Rs 1,000 crore 1 / 4, pushed by want for house possession and upgradation to greater houses with higher facilities amid the COVID-19 pandemic.

“We’ve got carried out phenomenally nicely by way of gross sales. We bought over Rs 3,000 crore value houses throughout 2020-21 fiscal regardless of the COVID pandemic,” he instructed PTI.

Ohri mentioned the housing gross sales picked up quick after the primary quarter which was muted due to the nationwide coronavirus lockdown.

“Folks need to choose up good merchandise from credible builders. They need higher facilities and prime quality of security, safety and companies in residential complexes,” he mentioned.

Ohri highlighted that the corporate’s determination to monetise a number of small land parcels, which it owned in Gurugram, by improvement of unbiased flooring have paid off.

“We’ve got launched and bought 551 residences since October 2020,” he mentioned, including that the corporate would proceed to deal with the event of unbiased flooring in DLF section 1-5 and new Gurugram.

The gross sales worth of those 551 models is round Rs 1,230 crore.

Since October, DLF has launched these flooring between Rs 11,000 per sq ft and Rs 15,000 per sq ft in DLF section 1 to five. The value vary is Rs 3 crore to Rs 5.6 crore together with the GST.

In DLF Gardencity, New Gurugram, unbiased flooring have been launched at Rs 6,000-6,500 per sq ft. The ticket measurement is Rs 1.25-1.7 crore.

DLF has began building of those unbiased flooring and can ship them within the subsequent two years.

Ohri famous that plots and unbiased flooring proceed to stay a pretty funding choice as a result of decrease funding price and excessive returns.

“Based mostly on the demand and learnings from final yr, this yr our focus is to scale up launches of recent merchandise, revamp our premium and mid-income housing choices and proceed to monetise our completed stock throughout areas,” Ohri mentioned.

Speaking about its extremely luxurious venture Camellias in Gurugram, he mentioned housing gross sales have been strong and the corporate stays targeted to promote ready-to-move-in models value Rs 4,000 crore on this property.

He famous that rental yield of its varied properties at Golf Course Street has reached round 4 per cent.

“The appreciation in capital in addition to rental values in our properties are excessive. Clients get good returns on their funding,” Ohri mentioned.

On launch pipeline in addition to Gurugram, DLF’s Senior ED knowledgeable that the corporate plans to launch initiatives within the nationwide capital, Kasauli, Himachal Pradesh, tri-city in Chandigarh and Panchkula, and Chennai.

Earier this month, DLF reported its gross sales bookings numbers for final fiscal at Rs 3,084 crore, up 24 per cent from the earlier yr.

The corporate has given a steerage of gross sales bookings of Rs 4,000 crore for FY’22.

“We’re assured of attaining common gross sales of Rs 1,000 crore per quarter,” Ohri mentioned.

On monetary efficiency entrance, DLF reported a consolidated internet revenue of Rs 480.94 crore for the quarter ended March 2021.

The corporate had posted a internet lack of Rs 1,857.76 crore within the year-ago interval.

Whole revenue rose to Rs 1,906.59 crore within the fourth quarter of final fiscal yr, from Rs 1,873.80 crore within the corresponding interval of the earlier yr.

For your complete monetary yr 2020-21, DLF posted a internet revenue of Rs 1,093.61 crore as in opposition to a internet lack of Rs 583.19 crore.

Whole revenue fell to Rs 5,944.89 crore final fiscal from Rs 6,888.14 within the monetary yr 2019-20.

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