DLF, one of India’s largest real estate firms, has announced plans to invest approximately ₹8,000 crore in a new ultra-luxury residential project located in Gurugram, reflecting a growing demand for premium housing
The project, named The Dahlias, recently held a pre-launch event and has already received a positive response from potential buyers, as published by the Hindustan Times.
The Dahlias spans 17 acres in DLF 5, Gurugram, and will feature around 420 apartments. This venture marks DLF’s second ultra-luxury offering following the successful launch of The Camellias. DLF expects to invest the ₹8,000 crore over the next four to five years to develop nearly 50 lakh square feet of living space.
In a recent conference call, DLF Managing Director Ashok Tyagi informed analysts that the company anticipates generating revenue of approximately ₹26,000 crore from the new project, based on current pre-launch prices. The minimum size of the apartments in The Dahlias is set at 10,300 square feet. The project’s construction costs are estimated at about ₹18,000 per square foot, which includes investments in infrastructure, an artificial lake, and a club spanning 4 lakh square feet. The selling price is projected to be around ₹1 lakh per square foot.
Joint Managing Director Aakash Ohri expressed optimism about The Dahlias, stating it would surpass DLF’s previous luxury project, The Camellias, which has seen secondary market transactions exceeding ₹100 crore for individual units. “Today, people are looking for the best lifestyle that money can buy, and The Dahlias represents that option,” Ohri said.
With this launch, DLF aims to achieve its sales target of ₹17,000 crore for the fiscal year. The company also has plans for additional launches in cities like Mumbai and Goa, bolstered by a robust sales performance that saw a 66% increase in bookings to ₹7,094 crore in the first half of this fiscal year, compared to ₹4,268 crore in the same period last year.
Despite a significant drop in sales bookings in the second quarter, DLF remains confident about the residential market’s outlook. The company noted that sales bookings fell 69% to ₹692 crore from ₹2,228 crore in the same quarter last year, citing delays in receiving approvals for new product launches.
DLF has reported substantial growth in its financial performance, with a net profit increase of more than 100%, rising to ₹1,381.08 crore in the second quarter, compared to ₹622.78 crore during the same quarter last year. Total income for the quarter rose 48% to ₹2,180.83 crore from ₹1,476.42 crore in the previous year.
The company has completed more than 178 real estate projects, covering over 349 million square feet, and has a development potential of 220 million square feet across residential and commercial segments. DLF’s annuity portfolio encompasses over 44 million square feet, generating an annual rental income of approximately ₹5,000 crore.
As DLF moves forward with The Dahlias, it reinforces its position as a leading player in the Indian real estate market, poised to cater to the increasing demand for luxurious living spaces.