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DLF - All Eyes On Delhi Residential Launch: ICICI Securities

DLF - All Eyes On Delhi Residential Launch: ICICI Securities

<div class="paragraphs"><p>Super luxury homes developed by DLF Ltd. (Source: Company website)</p></div>
Super luxury homes developed by DLF Ltd. (Source: Company website)

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ICICI Securities Report

DLF Ltd. has announced the launch of its luxury residential project 'ONE Midtown' in New Delhi consisting of over two million square feet of saleable area across 913 units with a total potential sale value of Rs 40 billion (50:50 joint venture with GIC Singapore).

As per our channel checks, we expect the project to achieve sales of 60-80% of the launched inventory in Q4 FY22 or sale value of Rs 12-16 billion (we assume that 50% of overall area will be released for sale).

DLF has achieved Rs 25 billion of sales bookings in H1 FY22 versus FY22 guidance of Rs 40 billion. With estimated Rs 11 billion of bookings in Q3 FY22 and contribution from this new launch, we expect the company to clock FY22 sales bookings of Rs 54 billion and exceed its FY22 guidance.

Click on the attachment to read the full report:

ICICI Securities DLF Company Update.pdf

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