NRIswould account for 20% of DLF’s total sales in FY23-24

• The Indian diaspora, spanning regions such as the US, Middle East, South East Asia, Australia, and Canada, has shown keen interest in various DLF projects, purchasing homes across different developments

PRAVASISAMWAD.COM

NRIs are projected to contribute significantly to DLF Limited’s sales, accounting for approximately 20% of the total in the fiscal year 2023-24, according to Aakash Ohri, Joint MD and Chief Business Officer of DLF Home Developers Ltd. Ohri highlighted the consistent growth in NRI investment, indicating a rise from 14% in the previous financial year. Anticipating a further increase of 5-7 percentage points, he expects the NRI share to reach around 20% of total sales in the current financial year.

With strong demand driving the real estate market, DLF remains confident in achieving its sales target of about Rs 13,000 crore for the fiscal year, supported by the positive trajectory of NRI investments. The company plans to launch multiple projects by March 2024 to capitalize on the prevailing market conditions

The Indian diaspora, spanning regions such as the US, Middle East, South East Asia, Australia, and Canada, has shown keen interest in various DLF projects, purchasing homes across different developments. Ohri emphasized the robust demand by revealing that out of 350 units in the recently launched ‘The Valley Orchards’ low-rise premium residences in Panchkula, nearly 70 were acquired by NRIs.

Elaborating on the motivations behind NRI investments, Ohri explained that approximately 50% of NRIs opt for DLF projects for investment purposes, such as rentals, while others acquire properties for personal use.

To enhance the engagement with the Indian diaspora, a dedicated team has been established, providing timely information about DLF’s latest developments and industry updates. Additionally, real-time support is offered across all time zones to address queries and introduce NRIs to the company’s newest offerings.

With strong demand driving the real estate market, DLF remains confident in achieving its sales target of about Rs 13,000 crore for the fiscal year, supported by the positive trajectory of NRI investments. The company plans to launch multiple projects by March 2024 to capitalize on the prevailing market conditions.

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