2-fold jump in DLF sales to Rs 13,316 cr

Realty major DLF Ltd’s sales bookings jumped two times annually to Rs13,316 crore during the first nine months of this fiscal, mainly on high demand for its luxury housing properties in Gurugram.

During the April-December period of the previous fiscal, the company’s sales bookings stood at Rs 6,599 crore. In the 2022-23 fiscal, DLF’s sales bookings stood at a little over Rs15,000 crore, and it is likely to clock higher numbers in the current fiscal. On Wednesday, the company reported a more than three-time increase in its sales booking to Rs9,047 crore in the December quarter as against Rs2,507 crore in the year-ago period.

This is the highest quarterly sales booking achieved by the company. The record sales bookings in the third quarter were mainly driven by sales of 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the pre-launch last month. In the third quarter of 2023-24, DLF launched three new projects --two in Gurugram and one in Panchkula--totalling over 5 million square feet. DLF said it witnessed a healthy demand, and both projects in Gurugram were completely sold out within record time.

“With this strong performance, the new sales bookings for the nine-month period stood at Rs13,316 crore and hence will be comfortably exceeding our full-year guidance,” the company said.

DLF has reported a 27 per cent increase in consolidated net profit to Rs655.71 crore in the December quarter, boosted by higher income and lower expenses. Its profit stood at Rs517.94 crore in the year-ago period. Total consolidated income rose to Rs1,643.51 crore in the third quarter of the current fiscal from Rs1,559.66 crore in the same period a year ago.

DLF’s total expenses declined to Rs1,131.97 crore in the December quarter from Rs1,151.62 crore in the year-ago period. DLF is India’s largest real estate company in terms of market capitalisation.