DLF, one of India’s leading real estate developers, has announced strategic plans to expand its footprint into the lucrative markets of Mumbai and Goa. This move is part of DLF’s broader strategy to capitalize on growth opportunities and further strengthen its residential and commercial project portfolios.
In his annual message to shareholders, DLF’s Chairman Rajiv Singh emphasized the company’s commitment to corporate governance and operational excellence while outlining their ambitious expansion plans. Singh highlighted the success of DLF’s residential business, attributing it to strong sales bookings and record sales collections in recent years, particularly driven by increasing demand for luxury homes. With a notable performance of INR 15,058 crore in sales for the fiscal year 2022-23 and INR 14,778 crore in the following year, DLF has set a robust target of achieving INR 17,000 crore in sales bookings for the current fiscal year 2024-25.
This target reflects the company’s optimism and proactive approach towards launching luxury housing projects across Gurugram, Goa, and now Mumbai. Singh underlined the significance of entering new geographies like Mumbai and Goa, citing encouraging market responses to DLF’s products. He reiterated DLF’s strategy to diversify its offerings to meet evolving market aspirations, alongside continuing its project launches in Delhi-NCR, a core market for the company. DLF’s expansion plans include significant investments in capex for new developments in Gurugram, Chennai, Delhi, and Goa, underscoring its long-term vision and commitment to sustainable growth.
The company currently holds a substantial future development potential of 215 million sq ft across residential and commercial segments, reflecting its robust growth trajectory. DLF maintains an annuity portfolio encompassing over 44 million sq ft with an annual rental income exceeding INR 4,000 crore. This stable income stream complements its dynamic real estate development activities, providing a balanced revenue model amidst market fluctuations. As DLF continues to bolster its market presence and operational capabilities, Singh assured shareholders of the company’s unwavering focus on talent acquisition, strengthened internal policies, and adherence to founding values.
