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DLF bets big on luxury housing with ₹20
DLF bets big on luxury housing with ₹20,000 crore FY27 launch pipeline in Gurugram, Goa and Mumbai
DLF said its ultra-luxury project The Dahlias has clocked ₹18,569 cr sales in 18 months, with nearly 60% inventory sold and apartment prices touching ₹135 crore
Real estate major DLF said on May 14 that it expects to launch luxury housing projects in Gurugram, Mumbai and Goa in FY27 with a combined revenue potential of around ₹20,000 crore, according to DLF Home Developers Ltd Managing Director Aakash Ohri.
Ohri said the company’s ultra-luxury villa project in Goa’s Reis Magos is expected to be launched sometime this year. DLF is also preparing to launch the luxury project Hamilton 2 in DLF City, a senior living project in Gurugram’s Sector 63 on Golf Extension Road (in the first half of FY27), and Phase 2 of the Westpark project in Andheri West, Mumbai.
The company also highlighted the strong performance of its super-luxury residential project, The Dahlias, in Gurugram, which has recorded sales bookings of ₹18,569 crore within 18 months, with nearly 60% of the inventory already sold and apartment prices rising from around ₹60 crore to nearly ₹135 crore.
“The good thing is that The Dahlias has caught up much faster than we expected it to,” he said during its Q4 FY26 analyst call on May 14.
Speaking during the webcast with analysts, DLF Managing Director Ashok Kumar Tyagi stated that sales bookings are expected to be around ₹20,000 crore in FY27. Of this, around ₹14,000–15,000 crore is expected to come from new launches planned during the fiscal, while the remaining sales are likely to be driven by The Dahlias project in Gurugram.
During FY26, DLF’s overall sales bookings declined 5% to ₹20,143 crore from a record ₹21,223 crore in the previous financial year. However, The Dahlias remained one of the company’s biggest contributors, generating ₹4,828 crore in FY26 alone. The developer sold 32 apartments in the March quarter, aided by strong demand and significant price appreciation.
Ohri said that The Dahlias was a primary driver of Q4 FY26 sales of around ₹3,967 crore. It was a key factor in DLF meeting its full-year sales guidance of ₹20,143 crore despite some launch deferrals.
Non-resident Indians (NRIs) accounted for nearly 15% of the project’s total sales, Ohri said.
DLF also indicated that the remaining 40% of The Dahlias’ inventory has an estimated revenue potential of around ₹24,000 crore at current pricing levels.
During the analyst interaction, Aakash Ohri said The Dahlias has already sold nearly 60% of its inventory and witnessed sharp appreciation in pricing since launch.
“As far as when we started off, what was about ₹60 crores is now ₹90 crores, and what was about ₹75 crores is now about ₹110 crores,” Ohri said.
He said that the new inventory at the project is now touching approximately ₹135 crore per residence.
“We’ve done phenomenally well in The Dahlias,” Ohri said during the earnings call. “This quarter alone, we’ve done about 32, and plus, 2 of The Camellias.”
According to management commentary, residences with different orientations are commanding varying premiums. North-facing residences overlook the lake and greens, while south-facing residences face the Aravalli range, with prices ranging from ₹20 crore to ₹30 crore, depending on apartment configuration and location.
The company also highlighted that the project has achieved pricing milestones significantly ahead of expectations.
“The good thing is that The Dahlias has caught up much faster than we expected it to. We thought we would achieve this target in about four years, but we’ve done it in about a year and a half in terms of per square foot realisation,” Ohri said.
In January 2025, Aakash Ohri told HT Real Estate that The Dahlias, then yet to be formally launched, recorded sales of ₹11,816 crore within just nine weeks of its pre-launch, driven by strong demand from ultra-high-net-worth individuals. He had noted that DLF achieved similar success with The Camellias over nearly a decade.
Analysts during the call on May 14 compared The Dahlias with The Camellias, DLF’s completed luxury development widely considered among India’s most premium residential addresses.
Responding to analyst queries, Ohri said The Dahlias is now ‘almost at par’ with The Camellias on a like-for-like pricing basis.
He said that while The Camellias currently trades between ₹80 crore and ₹150 crore per apartment, The Dahlias has already reached an average pricing of nearly ₹1 lakh per sq ft for south-facing residences.
DLF management also shared updates on the upcoming experience centre for The Dahlias, which is expected to be ready around Diwali this year. Ohri described it as “something that has not been done so far, at least presentation-wise in the country.”
During the earnings call, the company reiterated that while it remains confident of maintaining annual sales momentum, its broader focus continues to be on margins, cash generation, disciplined execution, and timely delivery rather than aggressively chasing booking volumes.
Source: Hindustantimes.com
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