Major holding DLF NSE 4.11% Ltd aims to attain sales bookings of Rs.2,500 large integer within the current yr, which is slightly higher than the previous year, despite the COVID-19 pandemic with housing demand memorizing since June, a senior company official same. throughout the twelve-month 2019-20, the DLF sales reserve reached Rs 2,485 crore. In an associate interview with Ashok Tyagi, full-time DLF manager, he said, "Demand is returning within the land market. Inquiries from potential home patrons area unit increasing."
He same the COVID-19 pandemic has prompted folks to place confidence in home possession. "The rate on housing loans is at an awfully low level," same Tyagi. DLF sales bookings within the half of this yr exceeded Rs 1,000 large integers whereas sales within the second quarter accumulated sharply to Rs 853 large integer from Rs 152 large integer within the preceding quarter.
Development work showed sturdy operations throughout the Sept quarter and accumulated new sales bookings for the quarter to Rs. 853 large integer compared to Rs. 152 large integer within the previous quarter. “Our target is to attain sales of 750 large integers in each December and March quarters,” same Tyagi, adding that the corporate can enter consequent yr with additional optimism if this target is met. He same the corporate recently launched standalone flats in Gurugram and has gotten an honest response from customers. An additional of those comes is going to be launched over the consequent 5 months.
In the fourth quarter, DLF aims to launch a housing development within the urban center being developed in a very venture with Singapore's sovereign wealth fund GIC. additionally to the new releases, Tyagi same the corporate has stock able to move to DLF Phase-5. when the sharp increase in second-quarter sales, the same sales have rebounded in his luxury residential project "Camellias" in Gurugram, Haryana.
The sale of a replacement Gurugram business property to yank specific conjointly contributed to the rise in sales throughout the Sept quarter. "The wear down yank specific was divided into 2 phases," Tyagi same. "The land we have a tendency to oversubscribed last year was three hundred million rupees and therefore the construction contract was 380 million rupees." In Sept 2019, DLF oversubscribed over 9 acres of land in New Gurugram to yank specific Co for roughly Rs three hundred large integers in one in all the foremost pricy land deals during this space.
On Friday, DLF proclaimed a forty-eight percent decline in its consolidated profit to Rs. 232.14 large integer for the quarter ending Sept 2020. Its profit was Rs 445.83 large integer within the previous year amount. Total revenue remittent to Rs. 1,723.09 large integer within the second quarter of this yr from Rs.1,940.05 large integer within the corresponding amount of the previous year. DLF's web debt was at Rs. 5,215 large integer at the top of the Sept quarter.
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