Latest news with #DLFHomeDevelopersLtd
Hindustan Times
3 days ago
- Business
- Hindustan Times
DLF's Privana North in Gurugram sees strong NRI demand, with US-based buyers accounting for 30% of overseas sales
DLF announced on June 18 that its newly launched luxury housing project, Privana North in Gurugram, has generated over ₹11,000 crore in sales within a week. The company attributed the strong response to robust housing demand, particularly from NRIs in countries such as the US, UK, GCC nations, and Singapore. Canada, Indonesia, Australia, and Kuwait emerged as new markets. On the domestic front, DLF witnessed strong interest from buyers across a wide range of cities, including Jaipur, Jalandhar, Agra, Ludhiana, Muktsar, Amritsar, Mumbai, Kolkata, Panipat, Chennai, Ambala, Bengaluru, Karnal, Udaipur among others, in addition to Gurugram, Delhi, and Noida. In a regulatory filing on June 18, DLF announced "sell out of its latest luxury offering, DLF Privana North, valued at approximately ₹11,000 crore, a historic milestone achieved within just one week." 'We've seen interest from buyers across India and around the world,' said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, in a conversation with HT Digital. 'Over the years, we've built a strong DLF diaspora. For Privana North, we've received strong interest from the US, UK, GCC countries, and Singapore, with Canada, Australia, Jakarta, and Kuwait emerging as new markets. Nearly 30% of overseas sales for the project have come from US-based Indians,' he said. The company unveiled the name and first look of DLF Privana North at New York City's iconic Times Square a few days ago. 'Southeast Asia contributed about 15% of our NRI business, particularly from countries like Singapore, Hong Kong, and Jakarta,' Ohri said. Speaking about the response to Privana North from NRIs, he said, 'Given the current geopolitical uncertainties, the Indian diaspora is increasingly looking for high-quality homes in India, properties that match the standards and lifestyle they're accustomed to abroad.' The real estate major has attracted domestic buyers from nearly 22 cities across India for its Privana North project in Gurugram, double the outreach compared to the launch of Privana South and West last year, which saw interest from 11 cities. 'We've significantly expanded our outreach across the country,' said Ohri. 'What's interesting is how Gurugram is evolving, not just as a residential destination but also as a preferred market for real estate investors. While our focus remains on end users, with 85% of buyers being actual homebuyers and 15% investors, the investor interest is also growing,' he said. 'Over 10% of domestic sales have come from non-metro markets. In total, buyers from 22 cities across India have invested in the project,' Ohri said. Beyond Gurugram, Delhi, and Noida, DLF has received bookings from buyers in Jaipur, Jalandhar, Agra, Ludhiana, Muktsar, Amritsar, Mumbai, Kolkata, Panipat, Chennai, Ambala, Bengaluru, Karnal, Udaipur among others, he said. 'Aspirational homebuyers from these cities are increasingly shifting focus from Delhi to Gurugram,' said Ohri. 'Many have children studying or working here, and their businesses often bring them to Delhi. Instead of staying in hotels during frequent visits, four to five times a month, they prefer owning a home. These aren't just investors, but end users or their family members actively occupying the units.' Also Read: DLF secures RERA approval for Privana North luxury project in Gurugram He noted that Gurugram has evolved into a cosmopolitan hub, welcoming people from across the country. 'It's become a melting pot,' Ohri said. He also pointed to a post-COVID shift in buyer behaviour. 'Many of our customers - entrepreneurs, business leaders, CXOs, capital market participants- have reassessed their portfolios. After being overexposed to equity markets, they are now prioritising stable, high-quality residential assets,' he said. Located in Sectors 76 and 77 of Gurugram, DLF's Privana North luxury apartments are part of the 116-acre integrated township, DLF Privana. The project spans 17.7 acres and comprises six premium towers rising to stilt+50 storeys, DLF's tallest residential buildings to date. It offers 1,152 four-bedroom residences and 12 penthouses. The 4 BHK apartments measure a carpet area of around 207 square meters (2236 square feet) and penthouses extend up to around 450 square meters of carpet area (4847 square feet). 'While the average price of apartments is around ₹9.5 crore, penthouses cost ₹25 crore," Ohri added.
Mint
3 days ago
- Business
- Mint
DLF clocks ₹11,000 crore in bookings as Privana North project sells out in a week
Bengaluru: India's largest listed real estate firm, DLF Ltd, has sold out its newest premium residential project, DLF Privana North in Gurugram, within a week of launch, underscoring the strength of luxury housing demand in the country's top property markets. The project, part of the company's larger 116-acre township DLF Privana in sectors 76 and 77, Gurugram, offers 1,152 four-bedroom apartments and 12 penthouses spread across 17.7 acres. With apartments priced at an average of ₹ 9.5 crore and penthouses at ₹ 25 crore, the rapid absorption signals continued appetite among affluent domestic and non-resident Indian (NRI) buyers for high-end, master-planned communities. The robust sales follow similar sellouts at DLF Privana West and Privana South, which collectively clocked sales worth ₹ 12,800 crore last year. This latest launch cements DLF's position as the dominant player in Gurugram's luxury housing segment, even as it eyes expansion into new, more competitive markets like Mumbai and Goa later this fiscal year. 'The strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects. We saw interest from buyers across India and around the world. This success also speaks to the strength of the larger community we are building, continuing the legacy of DLF 5 as a benchmark for luxury, master-planned living,' Aakash Ohri, joint managing director and chief business officer of DLF Home Developers Ltd, said in a statement. 'Privana is our answer to the growing demand from discerning buyers, in India and abroad, who seek future-ready, thoughtfully designed communities," Ohri added. DLF's strong momentum mirrors a broader surge in luxury housing demand across India's top cities, fuelled by rising disposable incomes, a swelling pool of high-net-worth individuals, and increased allocation toward real estate amid limited high-yield alternatives. In the January-March quarter this year, 1,930 housing units priced at ₹ 4 crore and above were sold across India, marking a 28% year-on-year increase, according to property advisory CBRE. Delhi-NCR accounted for the largest share of these sales, followed by Mumbai. The developer reported record sales bookings of ₹ 21,223 crore in FY25, up 44% from ₹ 14,778 crore the previous year. It has guided for sales of ₹ 20,000–22,000 crore in FY26, banking on a pipeline that includes the next phase of its super-luxury The Dahlias project in Gurugram as well as launches in Mumbai and Goa.
Mint
3 days ago
- Business
- Mint
DLF clocks ₹11,000 crore in bookings as Privana North project sells out in a week
Bengaluru: India's largest listed real estate firm, DLF Ltd, has sold out its newest premium residential project, DLF Privana North in Gurugram, within a week of launch, underscoring the strength of luxury housing demand in the country's top property markets. The project, part of the company's larger 116-acre township DLF Privana in sectors 76 and 77, Gurugram, offers 1,152 four-bedroom apartments and 12 penthouses spread across 17.7 acres. With apartments priced at an average of ₹ 9.5 crore and penthouses at ₹ 25 crore, the rapid absorption signals continued appetite among affluent domestic and non-resident Indian (NRI) buyers for high-end, master-planned communities. The robust sales follow similar sellouts at DLF Privana West and Privana South, which collectively clocked sales worth ₹ 12,800 crore last year. This latest launch cements DLF's position as the dominant player in Gurugram's luxury housing segment, even as it eyes expansion into new, more competitive markets like Mumbai and Goa later this fiscal year. 'The strong sales response reflects a clear, latent demand for DLF offerings, driven by the success of our past projects. We saw interest from buyers across India and around the world. This success also speaks to the strength of the larger community we are building, continuing the legacy of DLF 5 as a benchmark for luxury, master-planned living,' Aakash Ohri, joint managing director and chief business officer of DLF Home Developers Ltd, said in a statement. 'Privana is our answer to the growing demand from discerning buyers, in India and abroad, who seek future-ready, thoughtfully designed communities," Ohri added. DLF's strong momentum mirrors a broader surge in luxury housing demand across India's top cities, fuelled by rising disposable incomes, a swelling pool of high-net-worth individuals, and increased allocation toward real estate amid limited high-yield alternatives. In the January-March quarter this year, 1,930 housing units priced at ₹ 4 crore and above were sold across India, marking a 28% year-on-year increase, according to property advisory CBRE. Delhi-NCR accounted for the largest share of these sales, followed by Mumbai. The developer reported record sales bookings of ₹ 21,223 crore in FY25, up 44% from ₹ 14,778 crore the previous year. It has guided for sales of ₹ 20,000–22,000 crore in FY26, banking on a pipeline that includes the next phase of its super-luxury The Dahlias project in Gurugram as well as launches in Mumbai and Goa. In FY25, DLF had launched its super luxury project The Dahlias, which clocked around ₹ 13,744 crore of sales bookings in the last fiscal.
Time of India
5 days ago
- Business
- Time of India
DLF to invest ₹5,500 crore to build housing project in Gurugram
NEW DELHI: Realty major DLF Ltd will invest around Rs 5,500 crore to develop a luxury housing project in Gurugram , as it seeks to achieve record sales bookings this fiscal on high demand. According to sources, the company will soon launch an 18-acre project ' DLF Privana North ' in Sector 76/77 Gurugram, comprising more than 1,150 apartments. The estimated cost to develop this project is around Rs 5,500 crore, they added. This upcoming project is part of its 116-acre township 'DLF Privana'. In this township, the company had last year launched and completely sold out two projects -- 'DLF Privana West' and 'DLF Privana South' -- for around Rs 12,800 crore. In May 2024, DLF sold all 795 apartments for Rs 5,590 crore within three days of the launch of its 12.57-acre project 'Privana West'. Before that, in January 2024, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre. The new project will be the third one in this large township. DLF, the country's largest real estate firm in terms of market capitalisation, reported record sales bookings of Rs 21,223 crore in 2024-25, an increase of 44 per cent from Rs 14,778 crore in the preceding financial year. DLF's MD Ashok Tyagi recently gave sales bookings guidance for the current fiscal at Rs 20,000-22,000 crore, almost in the same range as last financial year. To achieve this target, DLF plans to launch housing properties worth more than Rs 17,000 crore this fiscal year amid strong demand for luxury homes. Last month, Aakash Ohri , Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, informed analysts that the company targets to launch this new project Privana North in the current quarter. In its latest investors presentation, DLF informed that the company launched a 7.5 million square feet area during the last fiscal for sale with an estimated revenue potential of Rs 40,600 crore. Out of this, the company sold 5 million square feet area in the last financial year itself for Rs 19,344 crore. In the 2024-25 fiscal, DLF launched its super luxury project 'The Dahlias' with a total saleable area of 4.5 million sq ft area and sales potential of Rs 35,000 crore. Last month, DLF said the company has received encouraging demand for The Dahlias project, generating Rs 13,744 crore worth of sales bookings during the last fiscal. The company remains optimistic about the sustained housing demand and would continue to capitalize on this momentum by introducing calibrated offerings of new products from a strong and well-diversified pipeline. DLF's net profit increased to Rs 4,366.82 crore during 2024-25 fiscal from Rs 2,723.53 crore in the preceding year. Total income rose to Rs 8,995.89 crore in the last fiscal from Rs 6,958.34 crore in the 2023-24 financial year.
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Business Standard
5 days ago
- Business
- Business Standard
Starting at Rs 9 cr? DLF bets big with Rs 5,500 Cr Privana North Project
DLF is set to pour Rs 5,500 crore into launching its next ultra??'luxury residential project, DLF Privana North, spanning 18 acres in Gurugram's Sectors 76–77. This marks the third phase of the 116??'acre Privana township, following the stunning early sells of Privana South (1,113 units in 3 days, ₹7,200 cr) and Privana West (795 units in 3 days, ₹5,590 cr), industry sources were quoted as saying by Key things to know: The estimated cost to develop this project is around Rs 5,500 crore. This upcoming project is part of its 116-acre township 'DLF Privana'. In this township, the company had last year launched and completely sold out two projects -- 'DLF Privana West' and 'DLF Privana South' -- for around Rs 12,800 crore. In May 2024, DLF sold all 795 apartments for Rs 5,590 crore within three days of the launch of its 12.57-acre project 'Privana West'. Before that, in January 2024, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre. The new project will be the third one in this large township. Multiple other projects of the realty major have sold out in the past, including The Camellias, The Arbour and the most recent super-luxury project - The Dahlias. Why Gurugram's luxury market is booming DLF's luxury demand surge is driven by several factors: Strong bookings: Sales bookings hit a record ₹21,223 crore in FY24–25, up 44% year-over-year Under??'construction tailwinds: Spree of new high??'end launches — including the mega The Dahlias and upcoming Privana North. Strategic planning: DLF's MD Ashok Tyagi recently gave sales bookings guidance for the current fiscal at Rs 20,000-22,000 crore, almost in the same range as last financial year. To achieve this target, DLF plans to launch housing properties worth more than Rs 17,000 crore this fiscal year amid strong demand for luxury homes. Last month, Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, informed analysts that the company targets to launch this new project Privana North in the current quarter. In its latest investors presentation, DLF informed that the company launched a 7.5 million square feet area during the last fiscal for sale with an estimated revenue potential of Rs 40,600 crore. Out of this, the company sold 5 million square feet area in the last financial year itself for Rs 19,344 crore. Privana North: High??'end by every measure Privana North will likely offer 1,100+ ultra??'luxury apartments, with base prices starting above Rs 9 crore, and penthouses expected to reach Rs 25 crore, said industry sources. RERA approval is already in place, and DLF has begun soft??'launch previews to select high??'net??'worth individuals and NRIs The project enjoys prime positioning along crucial infrastructure nodes like the Dwarka Expressway and SPR — considered Gurugram's fastest??'developing micro??'market. DLF's momentum: Beyond luxury DLF recently launched projects totaling 7.5 million sq ft, with ₹40,600 crore in revenue potential, of which ₹19,344 crore of sales were booked last year Additionally, The Dahlias — a premium 4.5 million sq ft development — alone secured ₹13,744 crore in bookings within its first year DLF aims to replicate its luxury sales formula through Privana North and other upcoming launches. Management remains bullish, forecasting continued demand from HNIs and NRI investors With multiple phases already sold out in record time, Privana North is well??'positioned to generate high??'value bookings and contribute significantly to DLF's ₹20K+ crore target for FY26. With inputs from PTI
