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May 15, 2024

DLF Ventures into Mumbai and Goa with High-End Homes: A Sneak Peek into Their Luxurious Offerings

DLF, the renowned real estate developer, is set to make a grand entry into the residential markets of Mumbai and Goa this year. Aakash Ohri, the joint managing director and chief business officer, revealed that DLF will be offering luxury flats in Mumbai priced between Rs 6 and 8 crore, marking its re-entry into the financial capital after an absence of 11 years.

In an exclusive interaction, Ohri disclosed that DLF will also be unveiling 62 opulent villas in Goa, with price tags ranging from Rs 40 to 50 crore. “Next quarter, we intend to do Goa,” he stated.

This expansion comes on the heels of DLF’s impressive financial performance, with a 62 per cent surge in consolidated net profit to Rs 920.71 crore in the quarter ended March 31. Despite a slight dip in total sales bookings, down 2 per cent to Rs 14,778 crore, the company remains optimistic, targeting a 15 per cent rise to Rs 17,000 crore for FY25.

DLF, boasting the title of the country’s largest real estate firm by market capitalization, has been drawing significant interest from non-resident Indians (NRIs). Ohri revealed that NRIs contributed 22-23 per cent to the total sales bookings in FY24, with a notable 27 per cent contribution in the recently launched Privana West project, valued at Rs 5,590 crore.

For the upcoming fiscal year, DLF aims to maintain NRI contribution between 22-25 per cent, balancing it with domestic buyers. “We will not do it more than that this year. We have got a lot of domestic users also. So we make quotas,” Ohri emphasized.

Out of the targeted Rs 17,000 crore sales bookings for FY25, DLF aims to secure Rs 3,500-5,000 crore from super luxury apartments alone. Apart from Mumbai and Goa, DLF is gearing up to launch luxury housing projects in DLF phase-5, Gurugram. Ohri hinted that these projects would be announced post the villa launch in Goa.

The upcoming project in DLF phase 5 is anticipated to surpass its ultra-luxury housing project, The Camellias, where an apartment recently fetched a staggering Rs 100 crore in the secondary market. With these ventures, DLF is poised to redefine luxury living experiences in Mumbai, Goa, and Gurugram, catering to the discerning tastes of homebuyers seeking opulence and sophistication.

Jhumpa Lahiri

Jhumpa Lahiri

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