DLF to invest Rs 23,500 cr to complete ongoing housing projects in Delhi-NCR, Mumbai
biggest realty firm
DLF Ltd will invest Rs 23,500 crore to complete its
residential projects
that have already been launched across Delhi-NCR and
Mumbai
.
According to an investor's presentation, the "total pending cost" to complete all launched projects is estimated at Rs 23,500 crore.
Productivity Tool
Zero to Hero in Microsoft Excel: Complete Excel guide
By Metla Sudha Sekhar
View Program
Finance
Introduction to Technical Analysis & Candlestick Theory
By Dinesh Nagpal
View Program
Finance
Financial Literacy i e Lets Crack the Billionaire Code
By CA Rahul Gupta
View Program
Digital Marketing
Digital Marketing Masterclass by Neil Patel
By Neil Patel
View Program
Finance
Technical Analysis Demystified- A Complete Guide to Trading
By Kunal Patel
View Program
Productivity Tool
Excel Essentials to Expert: Your Complete Guide
By Study at home
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
To meet its pending construction spend,
DLF
mentioned that the company has a cash balance of Rs 10,429 crore, of which Rs 7,782 crore is parked in the escrow account of the Real Estate Regulatory Authority (
RERA
).
Apart from that, the company has receivables of Rs 37,220 crore from its customers against
residential properties
sold to them.
In a recent conference call with market analysts,
DLF Group
Chief Financial Officer (CFO) informed that the company invested around Rs 750 crore in construction during the first quarter of this year. He said the number would go up slightly in the coming quarters.
Live Events
Post-COVID pandemic, DLF has launched many residential projects in Delhi-NCR, Mumbai and the tri-city of Chandigarh.
During the current July-September quarter,
DLF Ltd
and
Trident Realty
launched a housing project comprising 416 flats in Mumbai and also sold all units for around Rs 2,300 crore.
In the first quarter, the company launched and sold all 1,164 luxury apartments for about Rs 11,000 crore in its new housing project 'DLF Privana North' in Gurugram. This project is part of its 116-acre township.
Last year, DLF had in this township launched and completely sold out two projects - 'DLF Privana West' and 'DLF Privana South' - for around Rs 12,800 crore.
These new launches have helped DLF in achieving record sales bookings during the last fiscal year, and the company is targeting to repeat its performance.
DLF's sales bookings stood at a record Rs 21,223 crore in the last fiscal as against Rs 14,778 crore in the 2023-24.
During the 2022-23 fiscal, the company's sales bookings stood at Rs 15,058 crore.
For the current financial year, DLF has given a sales bookings guidance of Rs 20,000-22,000 crore, and it has already sold properties worth Rs 11,425 crore in the first quarter of this fiscal.
DLF Group is primarily engaged in the business of the sale of residential properties (development business) and leasing of commercial and retail properties (annuity business).
The Group has developed more than 185 real estate projects comprising a total area of more than 352 million sq ft. It also has an annuity portfolio of 46 million sq ft.
DLF has 280 million sq ft of development potential across the residential and commercial segments, including current projects under execution and the identified pipeline.
Economic Times WhatsApp channel
)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
Govt plans to ease petrol pump licensing norms amid energy security push
The government is considering further easing the norms for setting up petrol pumps in the world's fastest-growing fuel market, in light of the evolving energy security paradigm and commitment to decarbonisation, according to an official order. The government had in 2019 relaxed the norms for setting up petrol pumps, opening the door for non-oil companies to enter the fuel retailing business. At that time, companies with a net worth of Rs 250 crore were permitted to sell petrol and diesel, provided they committed to setting up infrastructure for at least one new-generation alternative fuel, such as CNG, LNG, biofuels, or EV charging, within three years of beginning their operations. For companies wanting to sell petrol and diesel to retail and bulk consumers, the networth criteria was set at Rs 500 crore. The Ministry of Petroleum and Natural Gas has now constituted an expert committee to review the 2019 guidelines for granting authorisation to market transportation fuels. The expert committee will "assess the effectiveness of the framework envisaged in Resolution dated November 8, 2019, in ensuring energy security and market efficiency; align the policy framework with national commitment towards decarbonisation, electrical mobility and promotion of alternative fuel; and address issues in implementation of existing guidelines," the order said. The committee is headed by Sukhmal Jain, former director (marketing) of Bharat Petroleum Corporation Ltd (BPCL). Other members of the four-member committee are Petroleum Planning and Analysis Cell (PPAC) Director General P Manoj Kumar, FIPI member PS Ravi and Arun Kumar, Director (Marketing) in the ministry. An August 6 notice of the ministry sought stakeholder/general public comments/suggestions on the matter within 14 days. Prior to the 2019 change, to obtain a fuel retailing license in India, a company had to invest or commit to invest Rs 2,000 crore in either hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals. This norm was relaxed in 2019. That year, the government allowed any entity with a net worth of Rs 250 crore to get a licence to retail petrol and diesel to either bulk or retail consumers. For those seeking authorisation for both retail and bulk, the minimum networth was set at Rs 500 crore at the time of application. For retail authorisation, the entities are required to set up at least 100 retail outlets. Also, retailers are required to establish 5 per cent of the total outlets in rural areas within five years. Global energy giants have been eyeing the Indian fuel market for a long time. French energy giant TotalEnergies, in partnership with Adani Group, had in November 2018 applied for a licence to retail petrol and diesel through 1,500 outlets. BP too has formed a partnership with Reliance Industries to set up petrol pumps. While oil trader Trafigura's downstream arm, Puma Energy, had applied for a license, Saudi Arabia's Aramco has been in talks to enter the sector. State-owned oil marketing companies Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) currently own most of the 97,804 petrol pumps in the country. Reliance Industries, Nayara Energy (formerly Essar Oil), and Royal Dutch Shell are the private players in the market, but with limited presence. The joint venture of Reliance, which operates the world's largest oil refining complex, and BP has 1,991 outlets. Nayara has 6,763 pumps, while Shell has just 355. Currently, IOC is the market leader with 40,666 petrol pumps in the country, followed by BPCL with 23,959 outlets, and HPL with 23,901 fuel stations.
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
FPIs pull nearly ₹18,000 crore from equities in August amid trade tensions
Foreign investors have pulled out nearly ₹18,000 crore from Indian equities so far this month, weighed down by escalating US-India trade tensions, disappointing first-quarter corporate earnings, and a weakening Indian rupee. With this, the total outflow by Foreign Portfolio Investors (FPIs) in equities has reached ₹1.13 trillion so far in 2025, according to data from the depositories. Going forward, FPI sentiment is expected to remain "fragile and in risk-off mode," with tariffs and trade negotiations emerging as key factors to watch out for in the coming week, according to Vaqarjaved Khan, CFA, Senior Fundamental Analyst at Angel One. The data showed that FPIs withdrew a net sum of ₹17,924 crore from equities in this month (till August 8). Foreign investors had pulled out ₹17,741 crore on a net basis in July. Before that, FPIs invested Rs 38,673 crore in the preceding three months from March to June. The latest outflows were primarily due to escalating US-India trade tensions, disappointing first-quarter corporate earnings and a weakening Indian rupee, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. From August 1, the US imposed a 25 per cent tariff on Indian goods and increased these tariffs by an additional 25 per cent during the current week. This spooked the markets and FPIs, leading to a massive sell-off in Indian equities, Angel One's Khan said. Along with tariffs, rising US Treasury yields also led to foreign money moving towards treasuries, he added. On the other hand, FPIs invested Rs 3,432 crore in the debt general limit and put in Rs 58 crore in the debt voluntary retention route during the period under review. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
19 minutes ago
- Economic Times
Central Park taps advisors for planned 2027 real estate IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Property developer Central Park is in the process of hiring a professional services firm and a merchant banker as part of its plans to list the real estate business by early 2027, said Amarjit Bakshi , chairman and managing director.'We are taking the IPO route not to raise money but to hand it over to the next generation,' said Bakshi. 'We should be ready to bring in partnerships, and compliance is important. Every shareholder should be treated as a partner. A listed company has to honour its commitments and meet the expectations of customers.'He added that Central Park is also planning a separate initial public offering (IPO) for its hospitality vertical in three to four years, comprising clubs, restaurants, and to Bakshi, Central Park has a Rs 11,000-crore product launch pipeline spanning five million sq ft over the next 12 company is part of the Bakshi Group , which also has interests in the infrastructure, hospitality, and automotive Park's upcoming developments include a 1.6 million sq ft residential project on Dwarka Expressway in Gurugram, with a revenue potential of Rs 3,200 crore, and a 1.4 million sq ft development on Sohna Road in Sector 48, Gurugram, with a revenue potential of Rs 4,500 crore.'Between these two projects, we should reach close to the guidance. In addition, at our existing project, Flower Valley in Sohna, we have group housing, serviced apartments, floors, and commercial units planned,' Bakshi company has also acquired 120 acres in Naugaon, Rajasthan, on the Delhi–Mumbai Expressway for a wellness-focused farmhouse project, and another 1,000 acres in Goa.'Naugaon is very close to Delhi and Gurugram and will have open spaces with a focus on greenery. In Goa, we will develop 500 acres, while the remaining 500 acres, which is forest land, will be left intact,' Bakshi company's two hotels – Le Méridien in Gurugram and Aloft in Aerocity, Delhi -- will also be part of the Park reported pre-sales of Rs 1,600 crore in FY25, up from Rs 250 crore in FY24. Its key projects include Central Park on Golf Course Road, Central Park Resorts on Sohna Road (including Bellavista), Central Park The Room, and the most recent, Central Park Flower Valley in Sohna.
