New Delhi: DLF Chairman Rajeev Singh is bullish on India’s housing sector and expects the strong sales momentum to continue due to rapid urbanisation, better affordability and aspirational need.
Singh also said that the sector is witnessing consolidation in demand from credible and organized real estate developers.
in a message to DLF shareholders In the annual report for 2022-23, Singh said that there continues to be a strong demand in the housing sector.
“Housing demand outlook remains positive due to factors such as urbanisation, improved affordability, favorable consumer sentiments and rising aspirational need, with continued momentum expected,” he added.
Singh observed that the housing sector is witnessing a consolidation trend, leaning towards more organized and credible developers.
“This trend is mainly driven by the increasing trust of consumers in these brands, substantial improvement in their financial status and their ability to provide high-quality, safe and sustainable ecosystems over the years,” he explained.
Singh said that during the last financial year the development business of the company Saw exceptional new sales bookings.
DLF Sales Booking It grew more than two-fold to a record Rs 15,058 crore in the last fiscal from Rs 7,273 crore in the previous year.
The company achieved sales bookings of Rs 8,000 crore from the single luxury housing project “The Arbor” launched in Gurugram during the March quarter.
“The market response to the new products launched by the company has been very encouraging,” Singh said.
Looking at the increasing demand and all the favorable factors driving it, he said that the company is focused and committed to scale up its business including launching projects in different geographies.
“Our strategy is to introduce a diversified offering to meet the evolving needs of the market,” underlined Singh.
DLF The chairman said that gradual improvement is going on in the office sector. During the last financial year, occupancy levels improved across the portfolio.
“Rentals increased, mainly from mark-to-market rentals and rentals from our new property DLF Downtown in Gurugram,” he added.
He said that the new IT complex and data center in Noida has received the occupancy certificate and the company is excited about the growth potential of the area.
“In the retail sector, there has been a significant uptick in the overall portfolio with improving customer footfall and increase in consumption. This revival has been mainly supported by the recovery of the luxury segment and the expansion of international brands,” he added. The retail business witnessed high levels of occupancy and continued its growth trajectory during the last financial year.
Singh said, “The business has registered a good growth as compared to the previous years. The demand is strong and the construction work of our new retail destinations is in progress. With the new facilities, we aim to double our retail portfolio in the next 4-5 years. Will do it.”
DLF is the largest realty company in India in terms of market capitalization. It has developed over 153 real estate projects and developed an area of over 330 million sq. ft.
DLF is primarily engaged in the business of development and sale of residential properties (development business) and development and leasing of commercial and retail properties (annuity business).
The group has an annual portfolio of over 40 million sq ft. The company has 215 million sq ft of development potential in the residential and commercial segment.
Singh also said that the sector is witnessing consolidation in demand from credible and organized real estate developers.
in a message to DLF shareholders In the annual report for 2022-23, Singh said that there continues to be a strong demand in the housing sector.
“Housing demand outlook remains positive due to factors such as urbanisation, improved affordability, favorable consumer sentiments and rising aspirational need, with continued momentum expected,” he added.
Singh observed that the housing sector is witnessing a consolidation trend, leaning towards more organized and credible developers.
“This trend is mainly driven by the increasing trust of consumers in these brands, substantial improvement in their financial status and their ability to provide high-quality, safe and sustainable ecosystems over the years,” he explained.
Singh said that during the last financial year the development business of the company Saw exceptional new sales bookings.
DLF Sales Booking It grew more than two-fold to a record Rs 15,058 crore in the last fiscal from Rs 7,273 crore in the previous year.
The company achieved sales bookings of Rs 8,000 crore from the single luxury housing project “The Arbor” launched in Gurugram during the March quarter.
“The market response to the new products launched by the company has been very encouraging,” Singh said.
Looking at the increasing demand and all the favorable factors driving it, he said that the company is focused and committed to scale up its business including launching projects in different geographies.
“Our strategy is to introduce a diversified offering to meet the evolving needs of the market,” underlined Singh.
DLF The chairman said that gradual improvement is going on in the office sector. During the last financial year, occupancy levels improved across the portfolio.
“Rentals increased, mainly from mark-to-market rentals and rentals from our new property DLF Downtown in Gurugram,” he added.
He said that the new IT complex and data center in Noida has received the occupancy certificate and the company is excited about the growth potential of the area.
“In the retail sector, there has been a significant uptick in the overall portfolio with improving customer footfall and increase in consumption. This revival has been mainly supported by the recovery of the luxury segment and the expansion of international brands,” he added. The retail business witnessed high levels of occupancy and continued its growth trajectory during the last financial year.
Singh said, “The business has registered a good growth as compared to the previous years. The demand is strong and the construction work of our new retail destinations is in progress. With the new facilities, we aim to double our retail portfolio in the next 4-5 years. Will do it.”
DLF is the largest realty company in India in terms of market capitalization. It has developed over 153 real estate projects and developed an area of over 330 million sq. ft.
DLF is primarily engaged in the business of development and sale of residential properties (development business) and development and leasing of commercial and retail properties (annuity business).
The group has an annual portfolio of over 40 million sq ft. The company has 215 million sq ft of development potential in the residential and commercial segment.