NEW DELHI: DLF Chairman Rajiv Singh stays bullish on India’s housing sector and expects sturdy gross sales momentum to maintain at the again of fast urbanisation, advanced affordability and aspirational want.
Singh additionally famous that the field is witnessing a consolidation in call for in opposition to credible and arranged actual property builders.
In a message to DLF’s shareholders In the yearly record for 2022-23, Singh mentioned the housing sector continues to enjoy sturdy call for.
“The outlook for housing demand remains positive, with sustained momentum expected due to factors such as urbanisation, improved affordability, favorable consumer sentiments and increasing aspirational need,” he mentioned.
Singh noticed that the housing sector is witnessing a development of consolidation, which is skewed in opposition to the extra arranged and credible builders.
“This trend is primarily influenced by heightened consumer confidence in these brands, substantial improvements in their financial positions and their ability to deliver high-quality, secure and sustainable ecosystems over the years,” he defined.
During the closing fiscal, Singh mentioned the corporate’s building trade witnessed outstanding new gross sales bookings.
DLF’s sale bookings jumped greater than two-fold to a report Rs 15,058 crore within the closing fiscal from Rs 7,273 crore within the earlier 12 months.
The corporate clocked Rs 8,000 crore gross sales bookings from a unmarried luxurious housing mission “The Arbour” which was once introduced in Gurugram all through the March quarter.
“The market response to new products launched by the company has been very encouraging,” Singh mentioned.
Given the rising call for and all favorable elements using it, he mentioned the corporate was once centered and dedicated to scaling its trade together with launching tasks throughout geographies.
“Our strategy is to introduce a diverse range of offerings to meet the evolving needs of the market,” Singh defined.
The DLF Chairman famous that the administrative center phase continues to showcase sluggish restoration. During the closing fiscal, occupancy ranges advanced throughout all the portfolio.
“There was a growth in the rentals, mainly from mark-to-market rentals and rentals from our new asset DLF Downtown in Gurugram,” he mentioned.
The new IT campus and information middle in Noida has won its occupancy certificates and the corporate stays bullish concerning the expansion possible of this area, he mentioned.
“In the retail sector, there has been a significant rebound with improved footfall and increased consumption across the portfolio. This resurgence is primarily supported by the recovery of the luxury segment and expansion of international brands,” he mentioned. The retail trade witnessed top occupancy ranges and endured its expansion trajectory all through the closing fiscal.
“The business posted healthy growth as compared to previous years. The demand remains intact and construction of our new retail destinations is on track. With the new additions we will be doubling our retail portfolio over the next 4-5 years,” Singh mentioned.
DLF is India’s greatest realty company relating to marketplace capitalisation. It has advanced greater than 153 actual property tasks and advanced a space in far more than 330 million sq. toes.
DLF is basically engaged within the trade of building and sale of residential homes (the Development Business) and the improvement and leasing of business and retail homes (the annuity trade).
The crew has an annuity portfolio of over 40 million sq. toes. The corporate has 215 million sq. toes of building possible throughout residential and business segments.
Singh additionally famous that the field is witnessing a consolidation in call for in opposition to credible and arranged actual property builders.
In a message to DLF’s shareholders In the yearly record for 2022-23, Singh mentioned the housing sector continues to enjoy sturdy call for.
“The outlook for housing demand remains positive, with sustained momentum expected due to factors such as urbanisation, improved affordability, favorable consumer sentiments and increasing aspirational need,” he mentioned.
Singh noticed that the housing sector is witnessing a development of consolidation, which is skewed in opposition to the extra arranged and credible builders.
“This trend is primarily influenced by heightened consumer confidence in these brands, substantial improvements in their financial positions and their ability to deliver high-quality, secure and sustainable ecosystems over the years,” he defined.
During the closing fiscal, Singh mentioned the corporate’s building trade witnessed outstanding new gross sales bookings.
DLF’s sale bookings jumped greater than two-fold to a report Rs 15,058 crore within the closing fiscal from Rs 7,273 crore within the earlier 12 months.
The corporate clocked Rs 8,000 crore gross sales bookings from a unmarried luxurious housing mission “The Arbour” which was once introduced in Gurugram all through the March quarter.
“The market response to new products launched by the company has been very encouraging,” Singh mentioned.
Given the rising call for and all favorable elements using it, he mentioned the corporate was once centered and dedicated to scaling its trade together with launching tasks throughout geographies.
“Our strategy is to introduce a diverse range of offerings to meet the evolving needs of the market,” Singh defined.
The DLF Chairman famous that the administrative center phase continues to showcase sluggish restoration. During the closing fiscal, occupancy ranges advanced throughout all the portfolio.
“There was a growth in the rentals, mainly from mark-to-market rentals and rentals from our new asset DLF Downtown in Gurugram,” he mentioned.
The new IT campus and information middle in Noida has won its occupancy certificates and the corporate stays bullish concerning the expansion possible of this area, he mentioned.
“In the retail sector, there has been a significant rebound with improved footfall and increased consumption across the portfolio. This resurgence is primarily supported by the recovery of the luxury segment and expansion of international brands,” he mentioned. The retail trade witnessed top occupancy ranges and endured its expansion trajectory all through the closing fiscal.
“The business posted healthy growth as compared to previous years. The demand remains intact and construction of our new retail destinations is on track. With the new additions we will be doubling our retail portfolio over the next 4-5 years,” Singh mentioned.
DLF is India’s greatest realty company relating to marketplace capitalisation. It has advanced greater than 153 actual property tasks and advanced a space in far more than 330 million sq. toes.
DLF is basically engaged within the trade of building and sale of residential homes (the Development Business) and the improvement and leasing of business and retail homes (the annuity trade).
The crew has an annuity portfolio of over 40 million sq. toes. The corporate has 215 million sq. toes of building possible throughout residential and business segments.