DLF to Expand Housing and Commercial Property Business; Entering Goa and Mumbai

DLF Ltd. has announced plans to expand its housing and commercial property business by entering new markets in Mumbai and Goa. This strategic move aims to capitalize on the growing demand for luxury homes and commercial spaces in these regions, as highlighted in the company's annual report.

DLF’s Chairman, Rajiv Singh, emphasized the positive market response to the company’s offerings as a driving force behind the expansion. “The market's response to our products continues to be very encouraging. It is with this conviction that we are entering new geographies like Mumbai and Goa,” Mr. Singh said. The company has witnessed an uptick in new sales bookings and record sales collections, reinforcing its decision to venture into these new markets.

While DLF continues to launch new projects in the Delhi-NCR region, the strategic expansion into Mumbai and Goa reflects the company's aim to meet the aspirational needs of a diverse customer base. By introducing a variety of offerings, DLF intends to cater to the evolving demands of the market.

Over the past two financial years, DLF has achieved robust sales bookings, driven by a significant surge in demand for its luxury homes. In the 2022-23 fiscal year, the company has sales of ₹15,058 crore, followed by ₹14,778 crore in the 2023-24 fiscal year. For the current fiscal year (2024-25), DLF has set an ambitious target of ₹17,000 crore in sales bookings, aiming for a 15% growth rate. This growth target will be supported by the launch of multiple luxury housing projects across Gurugram, Goa, and Mumbai.

In addition to its residential projects, DLF’s commercial business, which includes the development of office buildings and shopping centers, continues to perform well. The company has reported increased occupancy levels across its commercial portfolio. To support this growth, DLF is investing in capital expenditure for new build-outs in Gurugram, Chennai, Delhi, and Goa.

“This is a long gestation business, and the arduous work we have put in over the last decade has helped us to be in the strong position we are in today,” Mr. Singh noted. The company is also focusing on talent acquisition and strengthening internal policies to ensure a robust mechanism to support its growth ambitions.

Mr. Singh also discussed the broader economic landscape, noting that the Indian economy has staged a broad-based recovery across sectors and surpassed its pre-pandemic growth trajectory. “Over the last decade, wide-ranging structural and governance reforms have strengthened the economy's fundamentals, making India a shining star in the global economy. The sustained growth momentum reaffirms the ability of the Indian economy to grow faster than ever,” he said.

The Chairman also praised the continuity of governance under Prime Minister Narendra Modi’s leadership, marking a milestone in good governance. He believes that the third term of the Modi government will result in faster policy rollouts and accelerated growth. The government’s heavy investments in infrastructure, highways, railways, electrification, and other sectors are seen as pivotal to achieving the Prime Minister's vision for 'Viksit Bharat 2047,' coinciding with India’s 100th year of independence.

DLF aims to play a significant role in India’s economic progress, with the real estate sector expected to be a major contributor to employment and macroeconomic growth. By focusing on operational excellence, corporate governance, and the values established by its founders, DLF aims to achieve long-term sustainable growth for all its stakeholders while continuing to expand its footprint in India’s burgeoning real estate market.

Image source-dlf.in