DLF Anticipates Rs 260 Bn from Gurugram Super Luxury Project, MD Says

28 Oct 2024 CW Team

Realty major DLF anticipates generating Rs 260 billion in revenue from its new super-luxury project in Gurugram at the current selling price, with the potential for sales figures to increase due to high demand, as stated by its Managing Director, Ashok Tyagi.

DLF has pre-launched its 17-acre super-luxury housing project, The Dahlias, located at DLF 5 in Gurugram, and has received a positive response from customers. The project secured RERA approval at the beginning of the month.

The company plans to develop approximately 420 ultra-luxury apartments in this project, with the minimum size of an apartment being 10,300 square feet.

During a conference call with market analysts, DLF's MD, Tyagi, conveyed that the company expects to achieve Rs 260 billion in revenue from this super-luxury project. He explained that the revenue figure filed with RERA is based on the pre-launch price and indicated that these numbers would likely increase as prices rise.

Tyagi expressed confidence that the company would meet its sales guidance of Rs 170 billion for the fiscal year, supported by a robust launch pipeline in the latter half of the year.

In addition to the Gurugram super-luxury project, Tyagi mentioned that the company aims to launch another housing project in Gurugram by March, with plans to initiate projects in Mumbai and Goa around the same time.

Regarding the super-luxury project, Tyagi elaborated that the construction costs would be significantly high, estimated at approximately Rs 18,000 per square foot, due to expenses related to infrastructure, an artificial lake, and a 4 lakh square feet club.

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