DLF Stays Optimistic Despite 16% Dip in Sales Bookings

DLF Ltd's sales bookings dropped by 16% to Rs 16,176 crore in the first nine months due to lesser new home supplies but remains confident of hitting its annual target. The company's third-quarter bookings were impacted by a redesign of its ultra-luxury project 'Dahlias'.

DLF Ltd, the leading real estate giant by market capitalization in India, has reported a 16% decline in sales bookings, reaching Rs 16,176 crore in the first nine months of this fiscal. This decline is attributed to reduced new home supply, yet the company remains positive about reaching its annual sales target.

The company's third-quarter sales bookings showed a significant drop to Rs 419 crore from Rs 12,039 crore in the same period last year. This downturn was primarily due to a strategic redesign of its ultra-luxury project, 'Dahlias', to enhance customer experience. DLF has resumed bookings for the project this quarter.

Despite the challenges, DLF is steadfast in its annual guidance of achieving sales bookings between Rs 20,000-22,000 crore. The company has maintained strong financials, with a 14% increase in net profit to Rs 1,203.36 crore for the December quarter, and a commitment to its ambitious development pipeline.

(With inputs from agencies.)