DLF's Ambitious Investment to Transform Real Estate Landscape
DLF Ltd, India's biggest real estate firm, plans to invest Rs 23,500 crore in completing residential projects in Delhi-NCR and Mumbai. With significant cash reserves and future receivables, the company aims to maintain its strong sales momentum. Notably, DLF continues to expand its footprint across key urban areas.
- Country:
- India
India's premier real estate company, DLF Ltd, has announced a major investment strategy, committing Rs 23,500 crore to finalize its residential projects located in Delhi-NCR and Mumbai. This substantial financial undertaking underscores DLF's commitment to reinforcing its position as an industry leader.
Financial disclosures reveal that the company's present cash balance stands at Rs 10,429 crore, with Rs 7,782 crore securely held in the RERA escrow account. Moreover, DLF anticipates receivables amounting to Rs 37,220 crore from customer-sold residential properties, reflecting strong market demand.
Recent developments include the successful launch and sale of significant housing projects in Gurugram and Mumbai, contributing to record sales bookings of Rs 21,223 crore in the past fiscal year. DLF remains steadfast in its goal to sustain robust market performance throughout the current financial year.
(With inputs from agencies.)
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