DLF’s Luxury Housing Project in Gurugram Nets Over Rs 7,200 Crore in 72-Hour Pre-Sales

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    DLF, a listed real estate company, experienced remarkable pre-launch sales of approximately Rs 7,200 crore for its upscale residential venture, DLF Privana South, in Gurugram. The development sold out entirely within 72 hours before its formal launch, as per the company’s regulatory filing.

    Spanning about 25 acres in sectors 76 and 77 along the Southern Peripheral Road (SPR), ‘DLF Privana South’ boasts 1,113 lavish residences spread across seven towers. These encompass 4 BHK apartments and penthouses, offering stunning views of the Aravalli range and proximity to the upcoming Safari Park, spreading across 10,000 acres.

    Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd., highlighted the heightened demand for high-rise luxury dwellings, attributing the rapid sell-out to this trend. Notably, each buyer was allowed only one unit with a booking amount of Rs 50 lakh, significantly higher than the industry norm of Rs 10 lakh. Moreover, 25 percent of the sales came from Non-Resident Indians (NRIs).

    • Placement: Positioned strategically near the convergence of SPR, NH-48, Dwarka Expressway, and Central Peripheral Road (CPR), ‘DLF Privana South’ marks DLF’s entry into the crucial SPR region, increasingly becoming the city’s focal point due to burgeoning businesses.
    • DLF’s Overview: DLF, having developed over 158 real estate projects and more than 340 million square feet, holds development potential exceeding 215 million square feet across residential and commercial sectors. The company also maintains an annuity portfolio surpassing 42 million square feet.
    Business Focus:

    Engaged primarily in residential property development and commercial and retail property leasing, DLF’s recent sales bookings reached Rs 2,228 crore in Q2, boasting gross margins at 57 percent.

    Achieving net cash-positive status in the quarter, DLF aims for sale bookings nearing Rs 13,000 crore by fiscal year-end, supported by robust demand and planned project launches by March 2024.

    Also read: DLF Forecasts Surge in NRI Investment Share to 20% in Total Sales

    (Source: Moneycontrol)

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