DLF sells 173 ultra-luxury homes for ₹11,816 crore in Gurugram on strong demand from super-rich

Real estate major DLF has sold 173 apartments for ₹11,816 crore in its ultra-luxury residential project 'The Dahlias' in Gurugram, on strong demand from the super-rich.

In October last year, DLF launched a 17-acre housing project 'The Dahlias' at DLF Phase 5 in Gurugram, Haryana comprising 420 apartments and penthouses.

This project is the second ultra-luxury offering from DLF after the successful delivery of 'The Camellias' at the same location.

The minimum size of an apartment is 10,300 square feet.

According to an investors' presentation, DLF has sold 173 units having 18.5 lakh square feet area, for ₹11,816 crore.

The average realization was around ₹70 crore per residence. The average per square feet rate is around ₹64,000 on saleable area and ₹1,05,000 on carpet area. On bumper sales in this project, DLF Group MD Ashok Tyagi said there has been a "very strong underlying demand" for this exclusive offering.

DLF's subsidiary DLF Home Developers Joint Managing Director Aakash Ohri attributed the record sales to high demand from ultra HNIs from across India as well as non-resident Indians (NRIs).

DLF will invest around ₹8,000 crore over the next 4-5 years on the construction of this new project, comprising 74 lakh square feet of built-up area and 45 lakh square feet of saleable area.

On the basis of launch price, the total revenue potential for this project was estimated at ₹26,000 crore but the figure could reach more than ₹35,000 crore as the company probably would be selling the remaining in a staggered manner.

Post-COVID pandemic, the demand for luxury homes across major cities in India has surged as super-rich are lapping up bigger, better and branded homes.

On Friday, DLF reported a 61% increase in its consolidated profit to ₹1,058.73 crore for the quarter that ended December while sale bookings hit an all-time high of ₹12,093 crore driven by super luxury project 'The Dahlias'.

Its net profit stood at ₹655.71 crore in the year-ago period.

Total income rose to ₹1,737.47 crore in the third quarter of this fiscal from ₹1,643.51 crore in the corresponding period of the preceding year.

During the April-December period of the 2024-25 fiscal, the company's net profit rose to ₹3,084.62 crore from ₹1,803.71 crore in the year-ago period.

Total income grew to ₹5,648.12 crore in the first nine months of this fiscal from ₹4,641.64 crore in the corresponding period of the preceding financial year.

DLF is the country's largest real estate firm in terms of market cap. It has a strong presence in the Delhi-NCR and Tamil Nadu markets.

The company has developed more than 185 real estate projects and an area of more than 352 million square feet since inception. The Group has 220 million square feet of development potential across residential and commercial segments.

The group has an annuity portfolio of over 44 million square feet. DLF is primarily engaged in the business of the development and sale of residential properties (the Development Business) and the development and leasing of commercial and retail properties (the Annuity Business).