DLF meets FY24 guidance in the first nine months after selling apartments worth ₹7,200 crore

Although Ohri did not specify the company's current bookings figure, he mentioned that it has surpassed its full-year guidance.

“Full year guidance, we would have met by finishing off the Q3 the way we did. So that guidance is done now. And now as I said there are a couple of other projects lined up for Q4 that I would like to announce as we come close to that, but we are working on two big things,” he said.

Ohri also said that the average ticket size for this project is ₹7 crore, with ticket prices ranging from ₹6.25 crore to ₹7.15 crore.

With the launch of Privana and and Panchkula, DLF is anticipating bookings worth ₹9,000 crore in the December quarter.

“The Q1 and Q2 have been about ₹2,200 crore. This quarter, with this particular thing and the two launches Panchkula as well as a commercial launch in Gurugram will take us to about ₹9,000 crore. We yet to compile the data, but Q3 would be around that much," Ohri said.

Booking amounts have been ₹50 lakh and Ohri said that the purchases have been made by end consumers, who intend to move in to the apartments and not by brokers.

“Unlike the ₹5-10 lakh booking amounts, this time the booking amounts have been ₹50 lakh. No bulk bookings, one apartment to a family, and so on and so forth. So basically, the point I am trying to make is these are retails, end-consumers, mostly people looking at moving in,” he said.

Ohri further added that the project pipeline this year for the company is more than ₹20,000 crore.

DLF's update comes at a time when the Nifty Realty index is trading at the highest level in 15 years, with most of its constituents trading at or near 52-week or record highs. You can read more about what the street makes of this surge here.

Brokerage firm Morgan Stanley wrote in its note last week that DLF's pre-sales for financial year 2024 could cross the ₹20,000 crore mark.

Shares of DLF are trading 0.6% higher at ₹757.25.