Latest news with #DLFLtd
News18
6 days ago
- Business
- News18
Delhi, Mumbai going to be imp markets for DLF, says company official
Mumbai, Jul 17 (PTI) India's largest realty firm DLF Ltd, which has re-entered the Mumbai market with a premium housing project, on Thursday said it is taking its foray in the financial capital 'seriously" and the two geographies in the North and the West of India are going to be very important markets going forward. The Delhi-headquartered real estate giant also said that it has up to 20 joint venture proposals on its table from different entities, but it plans to establish its presence in the financial capital in a certain way. In July 2023, DLF announced its re-entry in the Mumbai market with plans to develop a luxury housing project in partnership with NCR-based builder Trident group. 'Mumbai (re-entry) we're taking very seriously. Both the cities – Mumbai and Delhi – are going to be two big markets (for us) because they're the ones who are going to give us our returns. So, if I have to invest in two geographies, I don't want to put all my eggs in one basket. 'These are the two very important markets going forward from here," DLF Home Developers Joint Managing Director Aakash Ohri told reporters at the unveiling of the project. The Rs 900-crore Westpark project, which is located just off Link Road in the western suburb of Andheri and is a part of a larger 10-acre Master Plan. It would have eight distinctive towers with the first four towers to be launched in the first phase, each having 37 storeys with a total of 416 residences, the company said. These towers would have a mix of three and four BHK residences, ranging from 1,125 sq ft to 2500 sq ft along with a limited number of exclusive penthouses. The groundbreaking for the project was carried out some three months back while the product (houses) will be launched in the first week of next month, DLF said. The company might sell the entire 416 units in case of high demand, Ohri said, adding, 'There is demand leading to something in Mumbai, and I think we need to partake in that whole demand scenario." The first phase itself has a revenue potential of Rs 2,300 crore with the next phase pegged at an estimated Rs 2,300-2,500 crore, he said, adding that 'about a year to a year-and-a-half, overall revenue potential is about Rs 5,000 crore." The company, he said, expects an overall revenue potential of Rs 10,000-crore across all phases at the current prices. He said that as it is difficult to get land parcels for such projects in a city like Mumbai, if there are joint venture development or other opportunities, the company will look at that in a very pragmatic way. 'We will look at opportunities in a very pragmatic way. I don't want to tick a box. We are not going to make any untoward statement or commitment to anybody, where we cannot or we are not serious about our delivery schedule. So we are starting with premium, and we will then move on to (other segments)." DLF has its offerings in three segments–superluxury, luxury and premium. 'We have right now 5-20 proposals sitting with us, of people wanting to do JV… But I want to start and get this product off the ground first," Ohri added. He said that the Mumbai project has evoked a good response from various segments in the form of expression of interest. Ohri also said that competition is always good as without competition one becomes an autocrat. 'Without competition, you will enter the monopolist markets. That is too dangerous. Competition will keep you and your systems on your toes. That is the best way to operate in any space," he said. 'You look at any product line– cars, mobile phones, airlines– wherever there is competition, you will be better. For me, I don't get perturbed by any competition," Ohri added. PTI IAS MR MR view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
&w=3840&q=100)
Business Standard
7 days ago
- Business
- Business Standard
DLF to invest Rs 900 cr in Mumbai housing proj, eyes Rs 2,300 cr revenue
India's largest realty firm DLF Ltd has re-entered the Mumbai market and will invest around Rs 900 crore to develop a luxury housing project at Andheri (West), a senior company official said. In July 2023, DLF had announced its re-entry in the Mumbai market with plans to develop a luxury housing project in Mumbai in partnership with NCR-based builder Trident group. "We have launched a luxury housing project 'Westpark' in Mumbai comprising 416 apartments," DLF Home Developers Joint Managing Director Aakash Ohri told PTI. He said the company has launched this 5.18-acre project in a price range of Rs 42,000 per sq ft to Rs 47,000 per sq ft. It is selling flats in a range of Rs 4 crore to Rs 7.5 crore. Asked about the investment, Ohri said, "It will be around Rs 800-900 crore". The total sales realisation will be around Rs 2,300 crore, he added. Ohri said the initial demand has been very encouraging from customers. "We plan to sell around 200 units," he said, adding that the company might sell the entire 416 units in case of high demand. In 2023, DLF had said that the company will hold a 51 per cent stake in the special purpose vehicle (SPV), which would develop this project. The remaining 49 per cent will be with Trident Group. This is a Slum Rehabilitation Authority (SRA) project. In 2012, DLF had sold 17-acre land parcel in Mumbai to Lodha Developers for Rs 2,700 crore. It had also formed a joint venture with Akruti City to develop a few projects, but could not launch any projects. 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. Last month, the company launched and completely sold the 'DLF Privana North' housing project in Gurugram, comprising 1,164 units. DLF will invest around Rs 5,500 crore to develop this 17.7-acre project, which has already been completely sold out for around Rs 11,000 crore. With the successful launch of the Gurugram project, DLF has already achieved 50 per cent of its annual sales bookings target. 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). (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
7 days ago
- Business
- Economic Times
DLF to invest Rs 900 cr to build first housing project in Mumbai, aims Rs 2,300 cr revenue
DLF Ltd has re-entered the Mumbai market with a Rs 900 crore investment in a luxury housing project, 'Westpark', in Andheri (West). The 5.18-acre project, developed in partnership with Trident Group, offers 416 apartments priced between Rs 4 crore and Rs 7.5 crore, targeting a sales realization of Rs 2,300 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's largest realty firm DLF Ltd has re-entered the Mumbai market and will invest around Rs 900 crore to develop a luxury housing project at Andheri (West), a senior company official July 2023, DLF had announced its re-entry in the Mumbai market with plans to develop a luxury housing project in Mumbai in partnership with NCR-based builder Trident group "We have launched a luxury housing project 'Westpark' in Mumbai comprising 416 apartments," DLF Home Developers Joint Managing Director Aakash Ohri told said the company has launched this 5.18-acre project in a price range of Rs 42,000 per sq ft to Rs 47,000 per sq ft. It is selling flats in a range of Rs 4 crore to Rs 7.5 about the investment , Ohri said, "It will be around Rs 800-900 crore".The total sales realisation will be around Rs 2,300 crore, he said the initial demand has been very encouraging from customers."We plan to sell around 200 units," he said, adding that the company might sell the entire 416 units in case of high 2023, DLF had said that the company will hold a 51 per cent stake in the special purpose vehicle (SPV), which would develop this project. The remaining 49 per cent will be with Trident is a Slum Rehabilitation Authority (SRA) 2012, DLF had sold 17-acre land parcel in Mumbai to Lodha Developers for Rs 2,700 had also formed a joint venture with Akruti City to develop a few projects, but could not launch any 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 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 month, the company launched and completely sold the 'DLF Privana North' housing project in Gurugram, comprising 1,164 will invest around Rs 5,500 crore to develop this 17.7-acre project, which has already been completely sold out for around Rs 11,000 the successful launch of the Gurugram project, DLF has already achieved 50 per cent of its annual sales bookings 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 income rose to Rs 8,995.89 crore in the last fiscal from Rs 6,958.34 crore in the 2023-24 financial its inception, DLF has developed more than 185 real estate projects and developed an area of more than 352 million square Group has 280 million square feet of development potential across the residential and commercial segments, including current projects under execution and the identified group has an annuity portfolio of over 45 million square 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). PTI
Economic Times
7 days ago
- Business
- Economic Times
DLF to invest Rs 1,000 crore in Mumbai's Andheri project
DLF Ltd, India's largest property developer, has entered Mumbai with a Rs 1,000 crore investment to develop the first phase of its project in which achieved nearly half of its sales guidance of Rs 20,000–22,000 crore for FY26 in the fiscal first quarter itself, is expecting the first phase of the Mumbai launch to add Rs 2,300 crore in July 2023, DLF had bought a 51% stake in the SPV that will develop around 3.5 million sq ft for Rs 400 crore. In the first phase, DLF will develop around 900,000 sq ft, as it is a slum rehabilitation project and more land will be made available gradually. 'In the 900,000 sq ft, we will have 8 towers, of which we have launched two towers, and another two will be launched soon. The remaining four towers will be launched next year,' said Aakash Ohri, joint managing director and chief business officer at DLF Homes. The project is part of a bigger slum rehab scheme. It includes a mix of 3 and 4 BHK residences ranging from 1,125 to 2,500 sq ft, along with a limited number of Mumbai, DLF is expected to launch a Goa project, which will have boutique reported $421 million in sales from NRIs last fiscal, rising from $408 million in FY24. New sales bookings of Rs 21,223 crore are projected for FY25, surpassing its earlier guidance of Rs 17,000–18,000 company reported a net profit of Rs 1,268 crore in the March quarter, rising 37% from a year the full fiscal year, DLF's consolidated net profit rose 59% to Rs 4,357 crore, while consolidated revenue grew to Rs 8,996 company had earlier outlined plans to launch 37 million sq ft of new projects from FY25 onwards, with a total sales potential of Rs 114,500 crore. Of this, 35% was launched last fiscal, while another 15% is scheduled for FY26. DLF's robust performance defied concerns of an industry-wide sales downturn, with developers reporting a decline in property sales after a two-year bull run.
Economic Times
7 days ago
- Business
- Economic Times
DLF to invest Rs 900 cr to build first housing project in Mumbai, aims Rs 2,300cr revenue
India's largest realty firm DLF Ltd has re-entered the Mumbai market and will invest around Rs 900 crore to develop a luxury housing project at Andheri (West), a senior company official said. ADVERTISEMENT In July 2023, DLF had announced its re-entry in the Mumbai market with plans to develop a luxury housing project in Mumbai in partnership with NCR-based builder Trident group. "We have launched a luxury housing project 'Westpark' in Mumbai comprising 416 apartments," DLF Home Developers Joint Managing Director Aakash Ohri told PTI. He said the company has launched this 5.18-acre project in a price range of Rs 42,000 per sq ft to Rs 47,000 per sq ft. It is selling flats in a range of Rs 4 crore to Rs 7.5 crore. Asked about the investment, Ohri said, "It will be around Rs 800-900 crore". The total sales realisation will be around Rs 2,300 crore, he added. ADVERTISEMENT Ohri said the initial demand has been very encouraging from customers. "We plan to sell around 200 units," he said, adding that the company might sell the entire 416 units in case of high demand. ADVERTISEMENT In 2023, DLF had said that the company will hold a 51 per cent stake in the special purpose vehicle (SPV), which would develop this project. The remaining 49 per cent will be with Trident Group. This is a Slum Rehabilitation Authority (SRA) project. ADVERTISEMENT In 2012, DLF had sold 17-acre land parcel in Mumbai to Lodha Developers for Rs 2,700 crore. It had also formed a joint venture with Akruti City to develop a few projects, but could not launch any projects. ADVERTISEMENT 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. Last month, the company launched and completely sold the 'DLF Privana North' housing project in Gurugram, comprising 1,164 units. DLF will invest around Rs 5,500 crore to develop this 17.7-acre project, which has already been completely sold out for around Rs 11,000 crore. With the successful launch of the Gurugram project, DLF has already achieved 50 per cent of its annual sales bookings target. 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). PTI (You can now subscribe to our ETMarkets WhatsApp channel)
