Millennium Post

DLF targets up to Rs 3,500 cr in new sales booking in FY17

Realty major DLF is targeting new sales booking of Rs 3,000-3,500 crore in the current fiscal, similar to last year level, as housing demand continues to be low, a company's senior official said. 

The country's largest real estate developer achieved net sales bookings of Rs 3,150 crore in the last financial year ended March 31, up by nearly 7 per cent from the previous 2014-15 fiscal. "We are giving a sales bookings guidance of Rs 3,000-3,500 crore for this fiscal as well. 

Housing sales are still slow although enquiries have increased," DLF Chief Financial Officer (CFO) 
Ashok Tyagi said. 

The bulk of sales bookings during last fiscal were in DLF Phase-5 at Gurgaon at Rs 2,940 crore. In the commercial business, Tyagi said the company expects to lease about 1-1.5 million sq ft in 2016-17 as against 1.02 million sq ft in the last financial year. 

"We have almost exhausted our commercial space. So, we have started development of a new office building having about 2 million sq ft of leasable area," Tyagi said. 
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