India's biggest real estate company, DLF Ltd, revealed a huge Rs.23,500 crore investment to finish its ongoing residential projects in Delhi-NCR and Mumbai.
The developer revealed the investment amount in its latest investor presentation, highlighting its robust financials and aggressive development pipeline.
As per the company, this fund will finance the entire expense of housing projects that have already been launched.
DLF has Rs.10,429 crore of cash at hand, including Rs.7,782 crore parked in RERA escrow accounts to protect homebuyers. Besides, it anticipates Rs.37,220 crore in customer receivables.
Key highlights:
"In Q1 alone, we have spent Rs.750 crore on construction, and that is going to increase as we step up the pace of project delivery," DLF's Chief Financial Officer said in a recent analyst call.
Among its launch flagship, DLF Privana North in Gurugram turned out to be a huge success, with all the 1,164 luxury flats worth Rs.11,000 crore sold in the first quarter. These flats are part of a 116-acre township that includes Privana West and Privana South, adding another Rs.12,800 crore in sales.
Also Read: Record Breaking Sale For DLF - Sells 1K+ Luxury Homes in Just One Week
In Mumbai, the joint venture by DLF with Trident Realty resulted in the launch of 416 apartments in Andheri West, which were sold quickly for around Rs.2,300 crore.
"DLF continues to create benchmarks in residential realty. Our sales performance and strong pipeline indicate increasing consumer confidence," according to a company spokesperson.
DLF posted record sales of Rs.21,223 crore in FY24–25 with a target of Rs.20,000–22,000 crore for current year and Rs.11,425 crore posted in Q1.
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