Real Estate

DLF hopes to benefit from demand for IT space

Our Bureau Kochi | Updated on June 17, 2019

DLF homes hopes to see a 10 per cent increase in its sales bookings at ₹2,700 crore in FY20. The company’s business turnover last year was ₹2,435 crore.

According to Devendra Yadav, Senior Vice-President – Commercial, DLF Ltd, the company projects an increase of 6 to 7 per cent of market growth in the current financial year. It has reduced its net debt by 38 per cent from ₹7,224 crore during Q3 of FY19 to ₹4,483 crore in Q4 of FY19 with net debt coming down in the current quarter.

Kerala market

The company is focussing on the Kerala market. The significant presence of NRI’s has led to the growth of real estate sector and also opened up venue for investments in the State. Kerala being largely unexplored in the super luxury housing segment has a huge potential and demand for high end condominiums especially among NRI’s.

With the demand in IT and ITES industries and growth in demand for world class office spaces, he said, DLF is looking forward to bring commercial project in Kakkanad, the IT hub of Kochi where the company has got sufficient land bank.

Published on June 17, 2019

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