Property Description: Indian real estate majors, DLF and Unitech, are set to miss their FY11 guidance, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets. At the end of quarter three itself, DLF will be missing its FY11 target of selling 12 million sq ft and that is likely to come true. The company will have to sell about 5.5 million sq ft in quarter four if they really had to achieve that, CNBC-TV18 reported, citing analysts.
The company wanted to launch 8 million sq ft and they have launched about three projects. It is estimated that they would have sold about 2 or 2.5 million sq ft or thereabouts. So, DLF will really miss in terms of clocking in the total number of sales. It needs to pay about Rs 210 crore mandatorily by March 2011. Unitech will be completing its target of 10 million sq ft this financial year. But in the beginning of the year itself, Unitech had downgraded its forecast. So, from 16 million sq ft they went to 10 million sq ft. Now it is pretty much on track to cover that 10 million sq ft. At the same time, it is at a discount from what it actually achieved in FY10 so thats a bit of a concern for Unitech.