DLF Ltd, India’s largest real estate developer, will invest Rs 235 billion to complete its launched residential projects across Delhi-NCR and Mumbai, according to an investor presentation. The estimated “total pending cost” covers construction work for all projects currently underway.

To meet this expenditure, DLF has a cash balance of Rs 104.29 billion, of which Rs 77.82 billion is held in the escrow account of the Real Estate Regulatory Authority (RERA). The company also has receivables worth Rs 372.20 billion from customers for sold residential units.

Group Chief Financial Officer said DLF invested about Rs 7.5 billion in construction during the first quarter of FY25, with spending expected to rise slightly in the coming quarters. Post-pandemic, the company has launched multiple projects in Delhi-NCR, Mumbai, and Chandigarh’s tri-city region.

In the July–September quarter, DLF, in partnership with Trident Realty, launched a 416-unit residential project in Mumbai, selling all flats for around Rs 23 billion. In the first quarter, it launched and sold all 1,164 luxury apartments in ‘DLF Privana North’ in Gurugram for about Rs 110 billion. This project is part of a 116-acre township, where DLF previously sold out two other phases — ‘Privana West’ and ‘Privana South’ — for a combined Rs 128 billion last year.

These launches have driven record sales bookings, with DLF achieving Rs 212.23 billion in FY24 compared to Rs 147.78 billion in FY23 and Rs 150.58 billion in FY22. For FY25, the company has given a sales bookings guidance of Rs 200–220 billion and has already secured Rs 114.25 billion in the first quarter.

DLF’s operations span residential property sales (development business) and commercial and retail leasing (annuity business). The group has completed over 185 projects covering more than 352 million sq ft, holds an annuity portfolio of 46 million sq ft, and has 280 million sq ft of development potential in its pipeline, including current projects under execution.