DLF, a prominent real estate company, is set to concentrate on broadening its operations by creating residential and commercial ventures. The company is also venturing into the new markets of Mumbai and Goa in order to capitalize on potential growth opportunities, as stated by its Chairman Rajiv Singh.
In his message to shareholders in the annual report, Singh stated that the company will maintain its emphasis on corporate governance, operational excellence, and honoring the values of its founders.
Our focus is on expanding both our residential and commercial businesses. The residential sector continued to grow, with an increase in new sales bookings and record sales collections.
He alsk added, "The market's response to our products remains very encouraging. It is with this confidence that we are expanding into new geographies such as Mumbai and Goa."
While the company continues to launch new projects in Delhi-NCR, Singh said that the strategy is to introduce a diverse range of offerings to address the aspirational needs of the market.
DLF has recorded impressive sales figures over the past two fiscal years, primarily due to a substantial increase in demand for its high-end residential properties.
During the 2022-23 financial year, the company achieved a milestone sales figure of Rs.15,058 crore, followed by a sales figure of Rs.14,778 crore in the subsequent 2023-24 financial year.
For the current fiscal year 2024-25, DLF has set a 15% growth target for sales bookings at Rs.17,000 crore, as it plans to launch several luxury housing projects in Gurugram, Goa, and Mumbai.
On the overall economic situation, the DLF Chairman stated that the Indian economy has broadly recovered and surpassed its pre-pandemic growth path due to structural and governance reforms over the past decade.
He believes that the next decade will belong to India and sees the third term of Prime Minister Modi’s government as a milestone for good governance that will lead to more effective policy implementation and growth.
"The government is making substantial investments in infrastructure, highways, railways, electrification, and other sectors. This progress in the new build-out cycle is advancing the Prime Minister's vision for 'Viksit Bharat 2047,' which aligns with the Nation's 100th year of independence," Singh said.
DLF's Chairman believes the real estate sector will significantly contribute to India's economic progress by creating jobs and fostering macroeconomic and social growth.
As the country’s largest real estate firm by market capitalization, DLF has developed over 158 projects covering more than 340 million sq ft. The DLF Group has 215 million sq ft of future development potential and an annuity portfolio of over 44 million sq ft with an annual rental income exceeding ₹4,000 crore.
Copyright © 2024 HomesIndiaMagazine. All Rights Reserved.
