DLF, the real estate conglomerate, anticipates a 30% increase in sales bookings to Rs 4,000 crore this fiscal year, despite the COVID-19 pandemic.
To meet the increased demand for residential properties, especially those developed by reputable developers, the business will launch a number of projects totaling 8 million square feet of saleable space.
DLF’s new CEO, Ashok Kumar Tyagi, provided sales bookings projection of Rs 1,000 crore each quarter during the current fiscal year during a conference call with analysts. Despite a national lockdown in April-June 2020, DLF sold residential units for Rs 3,084 crore during the fiscal year 2020-21, a 24 percent increase over the previous year.
Vivek Anand, Group Chief Financial Officer (CFO) of DLF, stated that the business is dedicated to meeting sales bookings estimate.
Internally, they are preparing for a larger figure, according to Anand, who added that sales will be slow in the current quarter owing to the second wave.
In terms of supply, DLF’s CFO stated that the business plans to open eight million square feet in the current fiscal year.
It plans to establish a project in the national capital in collaboration with Singapore sovereign wealth fund GIC. DLF said it will introduce more similar items in the market for sale after obtaining a positive reaction from customers for separate floors in Gurugram.
Aakash Ohri, Senior Executive Director (Business Development) of DLF, stated that demand exists in all housing categories, including mid-income and luxury. He emphasised that monthly rentals in DLF’s luxury apartments are similarly high, providing investors with a solid return.
The company claimed that growth factors such as affordability, customer perception, and the want to own a house are essentially unchanged and would continue to help in housing demand recovery.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.