Exultant over the accomplishment of its ultra-luxurious project Aakash Ohri, Joint MD and Chief Business Officer of DLF Home Developers Ltd, told in press conference that The Camellias, a listed real estate developer DLF Limited, plans to launch The Camellias 2 on Golf Course Road in DLF Phase-5 in Gurugram, with a sales potential of Rs 25,000 crore.
According to Ohri, The Camellias 2, also known as Lux 5, will be a “by invitation property” with extremely luxurious apartments. This indicates that buyers are limited to purchasing apartments in this project by invitation, and the developer will verify the buyer’s background before completing the sale.
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With a saleable area of about 5 million square feet, the Camellias 2 project is situated on 17 acres of prime land in DLF Phase-5.
“We intend to introduce The Lux5 or The Camellias 2 in DLF Phase 5 during the third quarter of 2024–2025. There will be about 420 extremely luxurious apartments in the project. We may launch about 50 apartments in the first phase and some in the second, as we will launch and sell this project in two to three phases, Ohri told in press conference.
He stated that compared to The Camellias, where apartments start at approximately 7,000 square feet, this project will offer even more lavish amenities and larger apartments.
The Camellias 2 will feature apartments with views of the Arawali hills and lakes, respectively. It is anticipated that the costs of these ultra-luxurious residences will be somewhat greater than those of The Magnolias and The Camellias,” he stated.
Within three days of the launch of its new luxury housing project in Gurugram, DLF announced last week that it had sold all 795 apartments for Rs 5,590 crore.
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On May 13, DLF revealed that its net profit for the quarter that ended on March 31, 2024, increased by 61.5 percent to Rs 921 crore. According to a regulatory filing made by the company, it reported a net profit of Rs 570 crore for the same period last year.
The company’s net profit for the 2023–2024 fiscal year was Rs 2,733 crore, indicating a 33 percent year-over-year increase. In the January-March quarter, DLF’s revenue increased by nearly 47% YoY to Rs 2,135 crore, up from Rs 1,456 crore recorded by the company in Q4FY23.
According to the company, DLF’s consolidated revenue for the full fiscal year 2023–2024 was Rs 6,958 crore.
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