Realty major DLF said that it would launch projects which envisage an investment of up to INR 1,500 crore by the end of this quarter with continued focus on sale of plots.

Mr Ashok Tyagi DLF Group CFO told analysts in a conference call that "We are going to launch 2.5 million square feet of projects in Chandigarh having value of INR 1,000 crore. By the end of December, we plan to launch projects with INR 1,200 crore to INR 1,500 crore of value.”

In a presentation, the company said the pace of new launches would increase in the second half of this fiscal with total planned launches of 7 to 8 million square feet.

DLF in a presentation said that "Given previous successes, focus on plotted launches will continue.”

The country's largest realty developer said it would offer 4 to 4.5 million sq ft of plots for sales in the remaining two quarters of this fiscal. The company plans to sell these plots in New Chandigarh, Gurgaon, Panchkula and Lucknow. Besides, DLF would launch 2.5-3 million sq ft of group housing projects in Gurgaon and Bangalore.

The company has launched one group housing project in Bangalore in October comprising 0.7 million sq ft with INR 200 crore to INR 225 crore of value.

(Sourced from PTI)