DLF launches commercial in Gurugram, low-rise township in Panchkula; aims revenue of Rs 1,400 cr

DLF launches commercial in Gurugram, low-rise township in Panchkula; aims revenue of Rs 1,400 cr

The Gurugram project “Central 67” is a commercial plotted development having shop-cum-office plots spread across 8.6 acres in Sector 67, while the low-rise township “The Valley Orchard” in Panchkula is spread across 15.83 acres.

Listed real estate developer DLF Limited has announced the launch of a commercial plotted development project in Gurugram and a low-rise residential township in Panchkula, both in Haryana, having a cumulative revenue estimation of over Rs 1,400 crore, a senior executive of the real estate developer said.

The Gurugram project “Central 67” is a commercial plotted development having shop-cum-office (SCO) plots spreading across 8.6 acres in Sector 67, Gurugram. The Panchkula project is a low-rise township “The Valley Orchard”, which is spread across 15.83 acres, Aakash Ohri, Joint MD and Chief Business Officer of DLF Home Developers Ltd, told Moneycontrol on December 20.

Both projects have a cumulative area of around 25 acres. “The “Central 67” project is located adjacent to Sohna Elevated Road, which converts into the Delhi-Mumbai Expressway from Sohna, and offers good connectivity options,” Ohri said.

“Central 67 is a commercial development project where we have 75 plots and the project is entirely sold out. The expected revenue from the project is around Rs 750 crore. In ‘The Valley Orchards’ project we are offering 400 units with an expected revenue of around Rs 700 crore,” Ohri said.

He added that the first phase of “The Valley Orchards” comprising 350 units has already been sold out. It will be a ground-plus-four-floor development near Kasauli. “We will bring 70 more units in the later phase of the project. The total development of the project is 1.1 million square feet. We will also launch one more residential project in Panchkula soon,” Ohri said.

“The Valley Orchard” project offers 3BHK-plus-study and 3BHK residences in blocks, each comprising a basement, a stilt, and four independent floors. The project is nestled in the foothills of the Shivaliks mountain range and overlooks the Kaushalya River, he said.

In the “Central 67” commercial project the total development area is around 14,300 square yards. He said that the project is structured basement-plus-ground-plus-four floors so that it can be used for both retail and office purposes with a building height reaching up to 15 meters.

“Positioned at the Sohna Elevated Corridor, this landmark project promises seamless connectivity to major business hubs and cities via the Delhi-Mumbai Industrial Corridor. With congestion-free links to Gurgaon, Sohna, and Delhi via multiple access points from Golf Course Extension Road, Sohna Road and SPR (Southern Peripheral Road), Central 67 unlocks a gateway to effortless accessibility across key areas,” he said.

DLF had reported a consolidated net profit of Rs 629 crore in the second quarter of this fiscal, up 29 percent year on year (YoY). Total income from operations rose to Rs 1,476 crore in July-September of 2023-24 from Rs 1,360 crore in the year-ago period.

The company’s sales bookings touched Rs 2,228 crore in Q2 with gross margins at 57 percent. It also said that it achieved net cash-positive status during the quarter. In a regulatory filing on October 31, DLF had said it was targeting sale bookings of about Rs 13,000 crore during this fiscal on the back of strong demand and will launch several new projects by March 2024.

Source : Money Control

Related Posts

The completion of the Stack Interchange Flyover, part of the expansive Dwarka Expressway, has ushered...
Daibiru Corporation, a subsidiary of the Japanese business conglomerate Mitsui O.S.K. Lines has invested Rs...
Signature Global (India) Limited (SGIL) is strengthening its presence in Gurugram with two significant land...