Real estate major DLF Ltd has announced its strategic entry into the senior living housing segment with a new project in Gurugram, which is expected to generate approximately Rs 2,000 crore in revenue. This launch, scheduled for the current quarter, marks a significant expansion for India's largest real estate developer as it diversifies its residential portfolio.
Confidence Amidst Quarterly Sales Dip
During a recent conference call with analysts, DLF Ltd Managing Director Ashok Tyagi addressed the company's performance, noting a sharp decline in sales bookings to Rs 419 crore in the December quarter, compared to a record Rs 12,039 crore in the same period last year. Despite this downturn, Tyagi expressed unwavering confidence in achieving the pre-sales target of Rs 20,000-22,000 crore for the current fiscal year.
"We stay confident to meet the original sales bookings guidance," Tyagi asserted, attributing the lukewarm third-quarter sales to a deliberate pause in bookings for the ultra-luxury 'The Dahlias' project and the absence of new project launches during that period.
Robust Demand in Gurugram
Tyagi highlighted that housing demand in Gurugram, DLF's stronghold, remains robust, particularly for credible developers. This optimism underpins the company's expansion plans, including the upcoming senior living project and other ventures in key locations.
The Dahlias Project: A Success Story
Aakash Ohri, Managing Director of DLF Home Developers Ltd, provided updates on 'The Dahlias,' a 17-acre super-luxury residential project launched in October 2024 at DLF Phase 5 in Gurugram. The project comprises 420 apartments and penthouses, with around 220 units sold for Rs 15,716 crore by December.
Ohri revealed that sales have resumed this quarter, with rates increasing by more than 25% from the pre-launch phase in the October-December 2024 period. He also mentioned that a renowned NRI recently purchased a property in the project, though the buyer's identity was not disclosed.
Future Launch Pipeline
Beyond the senior living initiative, DLF plans to launch additional projects later this year in Gurugram, Mumbai, Panchkula, and Goa. This aggressive expansion strategy aims to capitalize on growing market opportunities across India.
Financial Performance Overview
DLF's sales bookings for the first nine months of this fiscal year fell 16% to Rs 16,176 crore from Rs 19,187 crore in the year-ago period. However, the company achieved a record sales booking of Rs 21,223 crore during the 2024-25 financial year, demonstrating its strong market position.
Company Background and Portfolio
DLF Group is primarily engaged in developing and selling residential properties (Development Business) and leasing commercial and retail properties (Annuity Business). With over 185 real estate projects totaling more than 352 million square feet developed, the company boasts a substantial track record.
Currently, DLF has 280 million square feet of development potential across residential and commercial segments and an annuity portfolio exceeding 49 million square feet, underscoring its long-term growth prospects in the real estate sector.
