Building on the success of its prestigious project, The Camellias, DLF Limited, a renowned real estate developer, is set to introduce The Camellias 2 on Golf Course Road in DLF Phase-5, Gurugram. This new venture, poised to generate sales worth Rs 25,000 crore, was revealed by Aakash Ohri, Joint MD and Chief Business Officer of DLF Home Developers Ltd, in an interview with Moneycontrol.
Ohri explained that The Camellias 2, also referred to as Lux 5, will offer ultra-luxury residences available exclusively through invitation. Prospective buyers will need an invitation, with the developer vetting customer profiles before confirming any sales.
Occupying 17 acres of prime land in DLF Phase-5, The Camellias 2 will feature a saleable area of approximately 5 million square feet.
“We anticipate launching Lux5 or The Camellias 2 in DLF Phase-5 during the third quarter of the financial year 2024-25. The project will comprise around 420 super-luxury apartments, rolled out in two to three phases. The initial phase will see the launch of approximately 50 apartments, with additional units released in subsequent phases,” Ohri detailed.
The Camellias 2 promises even more opulent amenities and larger living spaces, with starting apartment sizes around 9,000 square feet compared to The Camellias’ 7,000 square feet. Some units will offer lake views, while others will overlook the Aravalli hills. Prices for these super-luxury residences will start at Rs 50 crore, surpassing those of The Magnolias and The Camellias.
In addition to The Camellias 2, DLF plans to launch another exclusive “by invitation” project in Goa. This development will feature 62 super-luxury villas on a 38-acre hill facing the Mandovi River in Panjim, set to launch in August 2024. Each villa will be priced between Rs 40 crore and Rs 50 crore, with an expected revenue of Rs 2,500 crore from this project, according to Ohri.
DLF recently reported selling all 795 units of a new luxury housing project in Gurugram within three days, generating Rs 5,590 crore.
On May 13, DLF announced a 61.5 percent increase in net profit, reaching Rs 921 crore for the quarter ending March 31, 2024, up from Rs 570 crore in the same period the previous year. The company’s net profit for FY 2023-24 was Rs 2,733 crore, reflecting a 33 percent year-over-year growth. DLF’s revenue also saw a significant rise, jumping nearly 47 percent YoY to Rs 2,135 crore in the January-March quarter compared to Rs 1,456 crore in Q4 FY23. For the entire financial year 2023-24, DLF reported consolidated revenue of Rs 6,958 crore.