DLF heads back towards home market
DLF, leading real estate developer of India, held back by debt and sluggish demand, is shifting back its focus on the familiar territory of its home market.
The firm concentrates on building high-end luxury homes in North India while new projects in other parts of the country see a downtrend.
Its overall focus in the South India is to complete the large projects which have already been initiated. Since the liquidity level is low, the firm will concentrate on projects that make maximum profit.
Most of its new projects will be in the North, which makes up 70 per cent of its business, in cities such as Gurgaon, Lucknow, and Chandigarh.
DLF said it plans to break ground on about 10-12 million sq. ft this year, compared with 12 million sq. ft in the year that ended in March and half the 24 million sq. ft it launched in the year ended March 2008, according to brokerage Ambit Capital.
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Source: NDTV profit
Ambit Capital, Business, Chandigarh, Gurgaon, high-end luxury homes, India, liquidity, Lucknow, maximum profit, North India, real estate developer of India, South India
[...] DLF heads back towards home market [...]