The leading realty developer DLF Ltd. is going to invest Rs.4, 000 crore at last for the new property bookings this fiscal year as they feel that it will take more 12 months to drag housing sales on the track.
India’s top real estate dealer has already reached at the level of gross sales booking of Rs.3, 850 crore by 2014-15 financial year but they fall down by Rs 4,070 crore previous year. In a meeting with analysts, DLF Executive Director (Finance) Saurabh Chawla stated that their target for new sales booking will be Rs 3,500-4,000 crore for this year (2015-16).
The developer had passed same line of followings last year also. About sales situation, in a conference the company has said that it would take another 12 months improve sales condition. The prime factor to achieve their target will be common like low interest rates, improvement in GDP, and supply & demand forms in big markets. The quantity of sales at most of the places will be continued at a same pace like 2014 and 2015.
The stars of realty developers are not in good form since last few years especially in Residential Properties due to sky rocketing prices and rate of interest. But DLF Builder says that the investors and buyers will continue to invest in those properties which are exceptionally beautiful with A-grade location. It further shows that those projects which will run on good construction rate will attain the interest of higher number of buyers.
DLF is planning to prelude next phases of some of it’s already existing projects like ‘Capital Greens’ which is located in the heart of Delhi, despite steady development of sales. It is announced by DLF since the usual sales momentum is still away to come down on the track; they are in a talk with some private equity players to attain a part of cash in some marquee projects to calm down the sales circle before launching in FY16.
Earlier DLF declared that they are about to increase private equity at project level by Rs 3,000 crore. Last week, DLF recorded fall of 16% in the net profit at Rs 540.24 crore in 2014-15 from Rs 646.21 crore last year. Profit from operations went down by 8% to Rs 7,648.73 crore from Rs 8,298.04 crore in 2013-14.
