DLF Unveils Rs. 33,500 Cr Plan to Expand Luxury Homes and Prime Rentals

India's largest real estate company, DLF Ltd, will invest Rs. 23,500 crore in developing ongoing residential projects located across the Delhi-NCR and Mumbai. DLF had a cash position of Rs. 10,429 crore at the end of Q1 FY25, of which, Rs. 7,782 crore was in RERA escrow cash accounts, as well as accounts receivable on sold units of Rs. 37,220 crore and is fully funded for execution.

In Q1 FY25, the company spent Rs. 750 crore on construction and subsequently launched its 1,164-unit luxury project, Privana North, in Gurugram that sold out with a value of Rs. 11,000 crore.

The sales occurred following last year's sellout of Privana West and South valued at Rs. 12,800 crore, which created record sales bookings of Rs. 21,223 crore in FY24, and now DLF is guiding a booking values of Rs. 20,000–Rs. 22,000 crore in FY25 with Rs. 11,425 crore worth of confirmed bookings, already in Q1.

DLF is speeding up its rental business too, with expectations of investing Rs. 5,000 crore each in FY26 and FY27 targeting Rs. 6,700 crore in annual rental income by FY26 year end. Growth will largely come from new office and retail projects, and include Rs. 5,900 crore from DCCDL and Rs. 750 crore from Atrium Place.

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The developer has executed 185 completed projects over 352 million sq ft, with commercial and retail leasing portfolios accounting for 46 million sq.ft. in commercial and retail leasing, and a future potential of 280 million sq.ft. The new office and retail rental streams will start with Downtown Gurugram (Gurgaon), Downtown 3 Chennai and Atrium Place, and all of the rentals are expected to start contributing income from late 2025/early 2026.

With pre-sales at strong levels, ample cash holdings and a great pipeline of projects, analysts expect DLF's rental income to grow at an annual growth rate of 11% through FY28, cementing its market leader position in India's premium real estate space.