Realty major DLF Ltd's sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore on better demand for its housing properties. Its sales bookings stood at Rs 2,526 crore in the first half of the previous financial year, according to an investors presentation by the firm.
DLF Ltd has given guidance of sales bookings at Rs 8,000 crore for the current 2022-23 financial year, a 10 per cent increase from the previous fiscal. Its sales bookings rose to Rs 7,273 crore in 2021-22 fiscal from Rs 3,084 crore in the previous year.
When contacted, DLF Group Executive Director and Chief Business Officer Aakash Ohri attributed the growth in sales bookings to strong end-user demand for its residential properties.
"We are maintaining the sales bookings guidance for this fiscal year," he said, adding that the company would prefer being cautious in the rising interest rate regime.
Ohri said the company has worked hard in the last two years to attract end-user customers. Timely execution of projects and providing quality services in housing societies post-completion of projects are very crucial elements for genuine customers. the company plans to launch two new housing projects in Gurugram and Panchkula during the second half of this fiscal to tap rising housing demand.
In the last 18 months, all major listed real estate developers have been reporting decent to high growth in their sales bookings numbers. Bengaluru-based Prestige Estates, Macrotech Developers (Lodha group), Godrej Properties, and DLF Ltd are the top performers in annual sales bookings. Other listed entities including Oberoi Realty, Sobha, Mahindra Lifespace, Indiabulls Real Estate, Brigade Enterprises, Puravankara Ltd, and Shriram Properties are also giving them tough competition.