The developer was looking to sell 16 million square feet of residential properties in the fiscal 2010, and by December it was able to sell just 8.5 million sq ft of properties.

Now, with just a month left for the fiscal, analysts believe DLF would not be able to meet its target.

When contacted, Rajiv Talwar, executive director at DLF, refused to comment.

About 65% of the 8.5 million sq ft launches were city-centric, and 70% of the sold volume came from the National Capital Region. About 47 % of NCR volumes came from a single city-centric project, Capital Greens.

DLF’s property sales picked up recently across projects in Gurgaon, Kochi, Bangalore and Hyderabad.

It sold 3.1 million sq ft of residential properties in the third quarter and about 1.8 million sq ft of that came from luxury projects.
However, analysts believe the pace of sales has not met with their expectations. “While the recovery has occurred, it is slower than we anticipated, with DLF likely to miss our prior volume estimates,” Aatash Shah, an analyst with Nomura, said.

Source: dnaindia.com By Vivek Seal DLF may miss residential sales goal