Realty giant DLF has announced an investment of approximately ₹8,000 crore to develop an ultra-luxury housing project in Gurugram, aiming to capitalize on the growing demand for high-end homes. The project will cater to the premium housing market, providing top-tier living spaces with luxurious amenities. The project has been name – The Dahlias.
The Dahlias: DLF’s Latest Super-Luxury Project
Last month, DLF pre-launched its 17-acre ultra-luxury housing project, “The Dahlias,” located at DLF 5 in Gurugram. After obtaining all necessary regulatory approvals, the project has already garnered a positive response from potential buyers. The development will feature about 420 luxury apartments, marking DLF’s second major ultra-luxury offering after the successful launch of “The Camellias.” The starting price is Rs.65 crore.
DLF plans to invest around ₹8,000 crore over the next 4-5 years in the construction of “The Dahlias.” The project will cover approximately 50 lakh square feet of space, with each apartment’s minimum size set at 10,300 square feet. DLF’s Managing Director, Ashok Tyagi, shared in a conference call that the company expects ₹26,000 crore in revenue from the project based on its current pre-launch pricing, which could increase as prices rise.
- Number of Floors: G + 29 Floors
- Number of Towers: 8 Towers
- Number of Units: 450 Units
- Total Land Area: 16.5 Acres
High Construction and Selling Costs
The construction cost for “The Dahlias” is expected to be high, with an estimated ₹18,000 per square foot due to the inclusion of luxury infrastructure like an artificial lake and a 4 lakh square feet clubhouse. The current selling price is around ₹1 lakh per square foot of carpet area. This premium pricing is in line with the project’s target market—buyers seeking the highest standard of living.
Expecting Higher Sales from The Dahlias
Aakash Ohri, Joint Managing Director of DLF Home Developers, expressed confidence in the project’s potential, comparing it to “The Camellias,” which has seen secondary market deals over ₹100 crore per apartment. Ohri believes “The Dahlias” will be even better and, once completed, will be counted among the best luxury properties worldwide.
DLF aims to replicate the success of “The Camellias,” which exceeded revenue expectations, generating around ₹12,500 crore, significantly higher than the initial estimate of ₹7,000 crore.
Strong Revenue Forecast for the Current Fiscal Year
With the launch of “The Dahlias,” DLF is optimistic about meeting its sales target of ₹17,000 crore for the current fiscal year. The company reported strong sales bookings, reaching ₹7,094 crore in the first half of the fiscal year, marking a 66% increase from the previous year.
Expansion Plans and Performance Updates
DLF also has an ambitious pipeline for the second half of the fiscal year, with plans to launch projects in Mumbai and Goa. Despite a slowdown in sales bookings during the second quarter of 2024-25, DLF is confident about the future of the residential sector, citing continued strong demand.
DLF has reported a sharp increase in its profits. Its consolidated net profit for the second quarter of this fiscal surged by 121%, reaching ₹1,381 crore, up from ₹622 crore in the previous year. The total income also saw a substantial rise of 48%, reaching ₹2,180 crore for the July-September 2024 period.
DLF’s Market Dominance and Growth
DLF is India’s largest real estate firm by market capitalization, having developed over 178 projects and covering more than 349 million square feet of space. The company has significant development potential, with 220 million square feet of residential and commercial properties in the pipeline. Its annuity portfolio, generating annual rental income of around ₹5,000 crore, includes over 44 million square feet of leased space.
DLF’s impressive financial performance and ongoing development projects highlight its strong position in the Indian real estate market and its commitment to meeting the increasing demand for luxury and premium housing.