Shares of DLF Ltd were trading in the green and 2% higher on 26 July after the company announced that its sales bookings during the April-June quarter grew by three-fold to Rs 6,404 crore, following strong demand for its luxury housing properties. 

During the same quarter last year, the realty major sold properties worth Rs 2,040 crore. 

The company has provided guidance to achieve Rs 17,000 crore worth of sales bookings for the current fiscal year 2024-25 against Rs 15,000 crore in the fiscal year 2023-24.

According to the company’s latest investor presentation, its sales booking during the quarter was driven by its luxury project ‘DLF Privana West’ at Sector 76/77, which saw sales of Rs 5,600 crore. The company’s super-luxury housing project, ‘The Camellias’ at DLF 5, Gurugram, sold 4 units worth Rs 251 crore during the quarter. 

The company in its statement said, “We believe that the residential segment is witnessing a structural upcycle and hence we continue to strengthen our new product pipeline.”

In its quarterly earnings for April-June, the company reported a 23% year-on-year increase in its consolidated net profit to Rs 645.61 crore for the quarter from Rs 527 crore reported in the same quarter last year. 

The company is India’s leading real estate developer and has a track record spanning over seven decades. The company has developed more than 178 real estate projects, covering over 349 million square feet. 

DLF Group has a development potential of 220 million square feet in both residential and commercial segments. Additionally, DLF has an annuity portfolio of over 44 million square feet in office and retail spaces. 

The group focuses on developing and selling residential properties, as well as developing and leasing commercial and retail properties.

At 2:10 pm, the shares of DLF were trading 2.56% higher at Rs 832.55 on NSE.

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