Latest news with #DLFGroup
Time of India
2 days ago
- Business
- Time of India
DLF to invest ₹23,500 crore to complete ongoing housing projects in NCR, Mumbai
NEW DELHI: India's 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. 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). That apart, 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. 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.
Hindustan Times
3 days ago
- Business
- Hindustan Times
DLF to invest ₹23,500 cr to complete ongoing housing projects in NCR, Mumbai
New Delhi, Aug 8 (PTI) India's biggest realty firm DLF Ltd will invest ₹23,500 crore to complete its residential projects that have already been launched across Delhi-NCR and Mumbai. DLF Ltd will invest ₹ 23,500 crore to complete its residential projects that have already been launched across Delhi-NCR and Mumbai. (Representational photo)(HT Photo) According to an investor's presentation, the "total pending cost" to complete all launched projects is estimated at ₹23,500 crore. To meet its pending construction spend, DLF mentioned that the company has a cash balance of ₹10,429 crore, of which ₹7,782 crore is parked in the escrow account of the Real Estate Regulatory Authority (RERA). That apart, the company has receivables of ₹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 ₹750 crore in construction during the first quarter of this year. He said the number would go up slightly in the coming quarters. 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 ₹2,300 crore. In the first quarter, the company launched and sold all 1,164 luxury apartments for about ₹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 ₹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 ₹21,223 crore in the last fiscal as against ₹14,778 crore in the 2023-24. During the 2022-23 fiscal, the company's sales bookings stood at ₹15,058 crore. For the current financial year, DLF has given a sales bookings guidance of ₹20,000-22,000 crore, and it has already sold properties worth ₹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.
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Business Standard
3 days ago
- Business
- Business Standard
DLF to invest ₹23,500 cr in ongoing housing projects in NCR, Mumbai
India's 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. 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). That apart, 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. 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. (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.)
Time of India
3 days ago
- Business
- Time of India
DLF to invest Rs 23,500 cr to complete ongoing housing projects in Delhi-NCR, Mumbai
India's 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 )
Economic Times
5 days ago
- Business
- Economic Times
DLF-GIC JV firm DCCDL Q1 profit rises 26 pc to Rs 593 cr on higher rental income
DLF and GIC joint venture firm DCCDL's net profit rose 26 per cent to Rs 593 crore during the June quarter on the back of higher income from rent-yielding commercial properties. ADVERTISEMENT The net profit of DLF Cyber City Developers Ltd (DCCDL) stood at Rs 470 crore in the year-ago period. Total income grew 12 per cent to Rs 1,739 crore during April-June period of this fiscal year from Rs 1,553 crore in the corresponding period of the preceding year. The DCCDL is a joint venture between DLF and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm. DCCDL has a total operational portfolio of 44 million sq ft of commercial spaces (office and retail) across various cities, including Gurugram. The net debt of joint venture firm stood at Rs 17,287 crore at the end of the quarter. ADVERTISEMENT DLF Group is primarily engaged in the business of building and sale of residential properties (development business) and the construction and leasing of commercial and retail properties (annuity business). The bulk of the commercial assets of DLF Group is parked in the DCCDL. ADVERTISEMENT Apart from the JV, DLF Ltd directly owns a small portfolio of about 2 million sq ft of office and retail spaces. Addressing shareholders at an AGM on August 4, DLF Chairman Rajiv Singh said India's biggest realty firm DLF has set an "ambitious" target to cross annual rental income of Rs 10,000 crore in the medium term from the company's commercial properties. ADVERTISEMENT At present, the DLF Group, including the DCCDL, has an annuity portfolio (primarily office complexes and shopping malls) of about 46 million sq ft with an annual rental income of over Rs 6,000 crore. He told shareholders that the company's annuity portfolio, encompassing offices, retail and hospitality, continues to exhibit steady growth. ADVERTISEMENT The chairman said new buildings in 'Downtown Gurugram' and Chennai projects are completed. Additionally, three new retail properties are set to open in the near future, further strengthening its portfolio. "We remain equally excited and committed to grow our annuity portfolio and have set an ambitious target for ourselves to cross annual rental revenues of Rs 10,000 crore in the medium-term," Singh had said at the AGM. Since inception, DLF has developed more than 185 real estate projects and developed an area of more than 352 million sq ft. The group has 280 million sq ft of development potential across the residential and commercial segments, including current projects under execution and the identified pipeline. (You can now subscribe to our ETMarkets WhatsApp channel)
