The largest domestic listed real estate business, DLF Ltd, reported that it has sold a record-breaking Rs 5,590 crore worth of luxury residential flats at "DLF Privana West," Gurugram, Haryana, in just three days, sending its shares up 2% on Thursday. According to DLF, this accomplishment comes after DLF Privana South's January 2024 success.
The high-rise project covers more than 12.572 acres and is located in Gurugram's Sectors 76 and 77. DLF shares increased 2.19 percent after the news to reach a high of Rs 871.15 on the BSE. The DLF stock has increased by 100% in the last year and by 20% so far this year.
Joint Managing Director and Chief Business Officer Aakash Ohri of DLF Home Developers Ltd. stated: "DLF Privana West emerges as the next chapter in this story, meticulously designed to cater to discerning homebuyers' aspirations for spacious, luxurious abodes within a vibrant, well-connected community, following the overwhelming success of DLF Privana's inaugural project, DLF Privana South." This project was highly anticipated internationally, and a significant percentage of purchasers were regarded as non-resident Indians."
One of DLF's significant subsidiaries is DLF Home Developers. ICRA recently confirmed its rating for this arm's NCDs and commercial papers, taking into account an improvement in collections in FY2024 that was fueled by positive feedback on new launches, robust sales, and continued project construction progress that it predicted would continue in FY2025. According to the rating agency, sales in FY2024 are likely to decline slightly from FY2023 levels, but they will still be solid and grow slightly in FY225. Collections are also anticipated to rise in FY2024 and continue to rise in FY2025.
Earlier this year, DLF inaugurated "DLF Privana South," marking its entry into Gurugram's Sectors 76 and 77.
Ohri continued, "Our aspiration with DLF Privana and its associated projects is to emulate the success of DLF5, by curating an integrated ecosystem of luxury residences amidst abundant greenery, fulfilling the most coveted lifestyle requisites." The luxurious and functional residences are designed to accommodate the changing requirements of expanding families. Penthouses have four parking spaces, but every 4BHK apartment has three, demonstrating the emphasis on convenience. Each of the five towers' cores consists of two penthouses and four apartments."
