DLF to launch 35 million sq ft area with Rs 40k cr medium-term sales

Delhi Land and Finance (DLF) Limited, a commercial realty developer, identified a pipeline of its new projects. It will launch a 35 million sq ft area in the medium term with sales of Rs 40,000 crore. The company said that about 8 million sq ft of space would be launched during the second quarter (Q2) of FY22. The company told the media that around 35 million sq ft of new products are planned in the medium term. These projects are to be launched at established locations with infrastructures. The company's total sales revenue potential of the 35 million sq ft project is Rs 36,000 to Rs 40,000 crore. It has already launched a 2 million sq ft project till September this year, out of the total 35 million sq ft in the medium-term. During the second half (H2) of FY22, the company is targeting to launch a 7.7 million sq ft area of projects. Its pipeline projects for financial years 2022-23 and 2023-24 is 6.4 million sq ft and 7.2 million sq ft, while the remaining 12.2 million sq ft is to be launched before FY24. It expects to make Rs 12,000 crore to Rs 15,000 crore from its upcoming project in Moti Nagar in central Delhi. With its joint venture (JV), DLF is developing an 8 million sq ft project in Delhi, from which a 2 million sq ft project will be launched in March next year. It will launch a 10 million sq ft area for premium housing with a sales potential of Rs 10,000 crore to Rs 10,500 crore. The company will launch a 9 million sq ft value home in Gurugram, Chennai and Chandigarh with a sales value of Rs 4,500 crore. DLF and its joint venture partner Hines are developing an office park in Gurugram having a 3 million sq ft area with a sales potential of Rs 6,000 crore to Rs 7,000 crore. Currently, it has a 215 million sq ft development potential area in the residential and commercial segment, with an annuity portfolio of over 35 million sq ft. Image Source