Real estate giant DLF Ltd has announced plans to launch a senior living housing project in Gurugram during the current quarter, marking its entry into this specialized segment. The company estimates the project will generate revenue potential of approximately Rs 2,000 crore as part of its strategic expansion initiatives.
Confidence in Gurugram Market and Annual Targets
During a conference call with analysts on Friday, DLF Ltd Managing Director Ashok Tyagi emphasized that housing demand in Gurugram, which serves as the company's stronghold, remains robust, particularly for credible developers. Tyagi expressed strong confidence that DLF would achieve its pre-sales target of Rs 20,000-22,000 crore for the current fiscal year, despite experiencing lower sales bookings in the December quarter.
"We stay confident to meet the original sales bookings guidance," Tyagi assured analysts, addressing concerns about recent performance.
Explaining the Third Quarter Sales Dip
The company reported sales bookings of just Rs 419 crore during the third quarter of this fiscal year, a significant decline from the record Rs 12,039 crore achieved in the same period last year. Tyagi explained this downturn resulted from two primary factors:
- DLF paused sales bookings in its ongoing ultra-luxury residential project 'The Dahlias' at Gurugram during the last quarter
- The company did not launch any new housing projects during that period
The Dahlias Project: Current Status and Pricing
Aakash Ohri, Managing Director of DLF Home Developers Ltd, provided updates on the company's launch pipeline, noting that sales have resumed for 'The Dahlias' project starting this quarter. The luxury development, which launched in October 2024 at DLF Phase 5 in Gurugram, spans 17 acres and comprises 420 apartments and penthouses.
Notably, pricing in this project has increased by more than 25 percent since the pre-launch phase during October-December 2024. Ohri revealed that approximately 220 apartments have already been sold for Rs 15,716 crore as of December, and mentioned that a prominent non-resident Indian recently purchased a property in the development, though he declined to identify the buyer.
Expansion Plans Across Multiple Cities
Beyond the senior living project in Gurugram, DLF has outlined additional expansion plans for the coming year. The company intends to launch more residential projects in:
- Gurugram
- Mumbai
- Panchkula
- Goa
Financial Performance Context
The announcement comes as DLF reported a sharp year-over-year decline in quarterly sales bookings. For the first nine months of the current fiscal year, sales bookings fell 16 percent to Rs 16,176 crore from Rs 19,187 crore during the same period last year.
This contrasts with the company's record performance during the 2024-25 financial year, when DLF achieved sales bookings of Rs 21,223 crore.
DLF's Business Portfolio and Scale
DLF Group operates primarily through two business segments:
- Development Business: Developing and selling residential properties
- Annuity Business: Developing and leasing commercial and retail properties
The company has an extensive track record, having developed more than 185 real estate projects totaling over 352 million square feet. DLF currently holds development potential of 280 million square feet across residential and commercial segments and maintains an annuity portfolio exceeding 49 million square feet.
