DLF set to invest Rs 5,500 crore to build luxury housing project in Gurugram
DLF Ltd is set to invest Rs 5,500 crore in a new luxury housing project, 'DLF Privana North', located in Gurugram, reported news agency PTI. This expansion comes as part of DLF's ongoing focus on the booming high-end residential market in the region. The project is part of a 116-acre township and represents the company's third major venture in this segment following the successes of Privana South and Privana West.advertisementDLF has seen significant sales momentum in Gurugram, where its previous projects have sold out rapidly. Privana South, launched in January 2024, saw all 1,113 apartments sold in just three days, generating Rs 7,200 crore. This was closely followed by Privana West, which successfully sold 795 apartments within 72 hours, achieving Rs 5,590 crore in sales. The new project, Privana North, aims to replicate this success with over 1,150 premium apartments across 18 acres in Sectors 76 and 77.The upcoming launch is crucial for DLF as it strives to maintain its impressive sales performance. In the fiscal year 2024-25, the company reported record sales bookings of Rs 21,223 crore, a 44 percent increase from the previous year. For the current fiscal year, DLF has projected sales between Rs 20,000 crore and Rs 22,000 crore, relying on the sustained demand for luxury properties.advertisement
To support its growth trajectory, DLF plans to introduce projects worth over Rs 17,000 crore in the upcoming quarters. Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, confirmed that 'DLF Privana North' is on schedule to launch this quarter, aligning with the company's strategy to capture a larger share of the luxury housing market.DLF's involvement in Gurugram is not limited to the Privana series. The company has been aggressively expanding its portfolio in the luxury segment. Last fiscal year, DLF launched 7.5 million square feet with a potential revenue of Rs 40,600 crore, out of which 5 million square feet were sold, earning Rs 19,344 crore. This demonstrates the strong demand and the company's ability to meet market expectations.Additionally, another key project, 'The Dahlias', has already achieved sales bookings worth Rs 13,744 crore. With a total saleable area of 4.5 million square feet, this super luxury development offers a revenue potential pegged at Rs 35,000 crore, further highlighting DLF's stake in the premium market.As urban wealth increases, premium housing is becoming a preferred investment choice, encouraging DLF to continue its expansion. With 'DLF Privana North' soon to be unveiled, the company is optimistic about maintaining its success in Gurugram, capitalising on the city's growing demand for luxury residences.DLF's strategy reflects its confidence in the market and its ambition to dominate the luxury housing sector. Through strategic investments and timely project launches, the developer aims to reinforce its position as a leader in the high-end real estate market, ensuring sustained growth and market leadership.With inputs from PTIMust Watch
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