Construction Industry News
The pre-sales or booking momentum of DLF, the country's largest listed real estate company by market capitalisation, remained strong in the April-June quarter (Q1) of 2024-25 (FY25). At ₹6,404 crore, the bookings were four times (318 per cent) higher on a sequential basis and three times (214 per cent) more than the year-ago quarter. Sales were led by a strong response to the luxury project Privana West in Gurugram (second phase), which accounted for ₹5,600 crore of the overall bookings in the quarter. This, coupled with sales of ₹251 crore in The Camellias (Gurugram), boosted sales in the quarter.
Given the sales momentum, cash collections have also doubled over the year-ago quarter, while they are up over a third on a sequential basis. Collections stood at ₹2,968 crore. As a result, operating cash flows also jumped 152 per cent year-on-year (Y-o-Y), while the gains quarter-on-quarter were over two-thirds at ₹1,849 crore.
DLF expects quarterly collections of ₹3,000 crore and construction spending of ₹800 crore per quarter from the third quarter of FY25. DLF plans to use half of the surplus cash flows for land acquisition and the balance to pay dividends.
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