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In FY21, Despite COVID-19 DLF aims Rs. 2500 crores sales booking

Realty major DLF NSE 1.33 nothing Ltd is targeting to attain sales bookings of Rs 2,500 crores within the current business enterprise, marginally higher than the previous year, despite the COVID-19 pandemic with housing demand finding out since Gregorian calendar month ahead, a senior company official has same. throughout the 2019-20 fiscal year, DLF‘s sales booking stood at Rs 2,485 crores. In AN interview with, DLF’s whole-time director Ashok Tyagi said: “Demand is coming within the housing market. Inquiries from prospective home consumers area unit rising.”

DLF sales

The COVID-19 pandemic has junction rectifier folks to consider home possession, he said. “Interest rate on the equity credit line is at a really low level,” Tyagi same. DLF’s sales bookings within half of this business enterprise crossed Rs 1,000 crores as sales within the second quarter rose sharply to Rs 853 crores from Rs 152 crores within the previous quarter.

The development business incontestible sturdy operations throughout the Sept quarter and new sales bookings for the quarter rose to Rs 853 crores as compared to Rs 152 crores within the previous quarter. “We area unit targeting to attain Rs 750 crores every within the Dec and March quarters,” Tyagi same, adding that the corporate would enter succeeding business enterprise with a lot of optimism if this target gets achieved. He same the corporate has recently launched freelance floors in Gurugram and got a smart response from the purchasers. it’ll launch a lot of such comes over the succeeding 5 months.

DLF sales
Image via DLF

In the fourth quarter, DLF is targeting to launch a housing development within the capital being developed in a very venture with Singapore sovereign wealth fund GIC. aside from the new launches, Tyagi same the corporate has ready-to-move-in inventories in DLF Phase-5. On a sharp rise within the second-quarter sales, the same sales picked up in its radical luxury housing development ‘Camellias’ in Gurugram, Haryana.

The sale of an advertisement property in New Gurugram to yank specific additionally contributed to higher sales throughout the Sept quarter. “Deal with yank specific has been split into 2 stages. The land we tend to sell last year was valued at Rs three hundred large integer and construction contract is price Rs 380 crores,” Tyagi same. In Sept 2019, DLF sold over 9 acres of land in New Gurugram to yank specific Co for concerning Rs 300 crores in one of the most expensive property deals during this space.

On Friday, DLF according to a forty-eight percent decline in its consolidated lucre at Rs 232.14 crores for the quarter terminated Sept 2020. Its lucre stood at Rs 445.83 crores within the year-ago amount. Total financial gain fell to Rs 1,723.09 crores within the second quarter of this business enterprise from Rs 1,940.05 crores within the corresponding amount of the previous year. DLF’s internet debt stood at Rs 5,215 crores at the top of the Sept quarter.

 

Also Read: Pradhan Mantri Awas Yojna

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