00:00 I'm joined by Akash Ory, he's the CBO and joint MD of DLF, who have sold out another
00:05 luxury product here in Gurugram.
00:08 Congratulations Mr. Ory on that.
00:11 Last we spoke, the Arbor was sold out.
00:14 You'd mentioned that the latent demand was one of the major factors.
00:18 What's it around this time?
00:19 Because last time around, a group housing product hadn't come out for about 10 years.
00:23 That's not the case this time.
00:25 So what's happened right now is that residential real estate investments have now become a
00:31 priority.
00:32 I'm seeing age groups from 30 and above now getting into real estate investments, which
00:38 I feel has opened up the market a lot.
00:42 Definitely Pan India, definitely NRIs, with all the outreach that the government is doing.
00:48 There is now, I see, a ghar wapsi in terms of investments in real estate, residential
00:55 real estate investments that are happening.
00:58 The Indian diaspora has given it a big thumbs up.
01:00 Again, with caution I'd say that good developers, one needs to continue to keep your head down,
01:07 deliver the products on time, make sure those commitments are met.
01:12 I think that's what is driving the focus right now.
01:18 I think the investment opportunities that the residential real estate, the asset class
01:26 provides today has started to become a priority.
01:31 During the Arbor, you came in at about 18,000 rupees per square feet.
01:36 What's the area like this time?
01:38 Arbor, we came out, you're right, at about 18,000.
01:41 It's already now trading at about 20,500 to 21,000, which has not even been a year.
01:47 These are all second and third transactions that are happening, which is good to know.
01:53 This is about 18,000 average price points to start with at Privana South.
02:00 What about margins, if you could specify a range?
02:03 Margins are upwards of 25% to about 30% upwards.
02:06 So healthy margins.
02:07 DLF will never do anything where margins are compromised.
02:11 We are not in the rat race of numbers.
02:13 We will always make sure that margins prevail.
02:17 Also very important for us is responsible pricing.
02:23 We are not opportunistic as a company.
02:25 We will make sure that the investors make money too.
02:31 Investments that are made are in tune with what the market conditions are.
02:35 I think for us, that is more important.
02:38 So the consumers, the investors need to make money, and we will make money post that.
02:47 In the area as well, we've seen there's various developers in the area.
02:52 There's M3M, there's Vatica, all of them up and coming there.
02:56 Privana South itself is about 25 acres from the 116 acres of the area that you're developing.
03:03 Could you give us more details on what the entire area entails, if we could see more
03:07 residential coming out of that plot?
03:09 See, the Privana ecosystem is now, I don't know whether you got a chance to see the advertisement,
03:17 it's very conveniently located between all the expressways, the Dwarka Expressway, the
03:26 Mumbai Expressway, going to Jaipur, connectivity to the airport, to Cyber City.
03:37 So basically you are in the midst of nature, which is almost 10,000 acres of a green lung,
03:42 which is adjacent to where you are.
03:46 And then of course you can get to all locations in a short span of time.
03:54 So I think connectivity, landscape and the green story, which is so big today, everybody
04:00 wants to breathe clean air.
04:03 And of course the luxury of a DLF apartment, the lifestyle that DLF provides, which is
04:10 so critical.
04:11 So people who've experienced the DLF lifestyle are extremely grateful for their support and
04:18 they are the ones who endorse us.
04:20 They are the ones who come back and refer us.
04:24 And I think that's our first go-to place.
04:28 So if you look at the demand, American Express is setting up one of the largest hubs very
04:34 close by.
04:35 TCS is already there.
04:36 Air India made that big announcement recently.
04:40 So I see a very positive development there.
04:44 And the kind of people who bought Privana South are doctors, business people, top corporates,
04:52 all levels, senior levels, the Indian diaspora.
04:57 So if you see the pull that this product has today or has got, each motivation has been
05:08 different.
05:09 So somebody wants a green lung, somebody wants connectivity, somebody wants-- obviously everybody
05:13 wants the DLF lifestyle and the DLF product.
05:16 So I think it's very heartening to see the way the response has been.
05:20 Lastly, what's the final timelines on this?
05:24 What stage is this project at?
05:27 And also an update on the Abar?
05:29 And what else is in pipeline for Guru Gram specifically?
05:32 This product is just, as you know, we were going to launch mid-January.
05:35 We are, as I said, humbled by the pre-launch success.
05:42 So this is just about-- we're making the first announcement today that it's sold out.
05:47 And of course, Abar is on its way to now construction.
05:54 And other developments, yes, please look out for other launches, both from the super luxury
05:59 stable as well as the luxury.
06:01 So we will continue to-- of course, Gurgaon is one market.
06:05 In our market guidance, you are aware we have talked about Mumbai.
06:08 We've talked about Chennai.
06:09 We've talked about Panchkula.
06:13 So all of that, but one step at a time.
06:17 Thank you.
06:18 Thank you.
06:18 Thank you.
06:18 Thank you.
06:19 Thank you.
06:20 Thank you.
06:21 (dramatic music)
