Leading real estate company DLF Limited has reaffirmed its sales booking target of Rs 17,000 crore for the year ending March 31 while stressing the巻 market’s ability to absorb the new tax measures.
During a telephone interaction with the analysts, DLF managing director Ashok Tyagi said that withdrawing the indexation benefit for computing long-term capital gain tax on property sales would not have any adverse effect on demand.
‘’We think the residential business is structurally turning a corner, and we are well placed to capture this recovery,’‘ said Tyagi. This year, the company plans to commence new projects totaling ₹42,000 crore in Gurugram, Mumbai, Goa, and the Chandigarh Tri-city.
The positive sentiment is based on the firm’s first-quarter results, in which the company’s sales bookings surged to 6,404 crores from 1,753 crores recorded in the previous year due to rising customer interest in its luxury products.
However, it is worth mentioning that the firm enjoys a strong receivables base with over ₹ 21,000 crore receivables from customers, compared to the remaining construction costs on the projects of ₹ 11,000 crore only. Combined with this, there are funds in RERA Escrow Accounts that are enough to fund DLF’s robust launch schedule.
According to analysts, experts, and other stakeholders, policy volatility has never affected DLF’s sound financial health. Thus, the company is positioned as one of the most successful players in the Indian real estate market, which, in turn, has not failed to demonstrate signs of steady development.
