DLF gains 4% on eyeing sales of Rs 750 crore each in Q3, Q4

Shares of DLF advanced nearly 4 per cent in Tuesday’s morning trade after reports that the realty major has sold nearly 90 independent floors worth over Rs 300 crore in Gurugram. It also plans to launch more such projects as demand for premium residential properties has revived in last few months.

The company is also targeting to achieve Rs 750 crore sales each in the December and March quarters, according to PTI.The scrip traded 3.77 per cent higher at Rs 194.15 at around 10 am (IST), while the benchmark BSE Sensex was up 0.53 per cent at 44,385 at around the same time.The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others.

“Recently we launched 88 residences in form of premium independent floors (at a price point of Rs 3.75 – 4.25 crores each), spread across 22 plots, in the DLF City Phase 3…in Gurugram. These were sold out in a record time,” PTI reporting quoting Aakash Ohri, Sr Executive Director Sales & Director, DLF.

The company plans to launch similar products in Panchkula, Tri-city, New Gurgaon and wherever there is an opportunity in DLF phase 1 to 4, he said.DLF, the country’s largest realty firm, is targeting to achieve sales bookings of Rs 2,500 crore in the ongoing fiscal, marginally better than the previous year, despite the Covid-19 pandemic.

During the 2019-20 financial year, DLF’s sales booking stood at Rs 2,485 crore.DLF has posted 48 per cent fall in its consolidated net profit at Rs 232.14 crore for the quarter ended September 2020. Its net profit stood at Rs 445.83 crore in the year-ago period.

Total income slipped to Rs 1,723.09 crore in the second quarter of this financial year from Rs 1,940.05 crore in the corresponding period of the previous year.DLF’s net debt stood at Rs 5,215 crore at the end of the September quarter.