DLF: DLF to launch new properties worth Rs 3,500 crore in second half of FY23

Realty major DLF plans to launch new projects worth Rs 3,500 crore during the second half of this fiscal, mainly in Gurugram and Panchkula as it seeks to tap a rising demand. In an investors presentation, DLF informed that the company plans to launch residential projects across Gurugram and Panchkula by March 2023 after getting requisite approvals from authorities. The company plans to launch around 3 million square feet area across residential projects. That apart, DLF has completed inventories worth Rs 3,222 crore and properties worth Rs 5,622 crore in the under-construction projects that have been launched. "Product potential (near term) ~Rs 12,350 crore," DLF said in the presentation, after taking into account the inventories available for sales currently and projects to be launched in the second half of this fiscal year. On operational performance, DLF said its sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore from Rs 2,526 crore