DLF To Launch Projects Worth Rs 19,710 Cr By March 2024
Real estate major DLF on Saturday said it intends to launch projects worth Rs 19,710 crore for sale by March next year.
The company is looking to achieve sale bookings of up to Rs 12,000 crore in FY 2024. DLF’s sale bookings have jumped more that two-fold to Rs 15,058 in FY23 from Rs 7,273 in FY22.
In a conference call with investors, Ashok Tyagi, CEO at DLF said, “A normalised sale for 2022-23 should really have been in the range of Rs 10,000-11,000 crore. We will still keep our head guided. And we will say that in FY24 we should still be looking at sales guidance of Rs 11,000-12,000 crore.”
In FY24, majority of the projects in DLF’s pipeline are in housing segment in Delhi-NCR region and Chennai.
On Friday, DLF reported a 41 per cent growth in consolidated net profit to Rs 570 crore during the Q4 FY23, up from Rs 405 crore in the same period last year. On sequential basis, net profit jumped 10 per cent from Rs 517 crore clocked in the preceding December quarter.
Meanwhile, the company’s operating profit (EBITDA) grew 8 per cent to Rs 397 crore in Q4 and margins were recorded at 27.4 per cent.