<p>India's top real estate developer DLF will continue to focus on building luxury and premium projects as it finds it difficult to make profits in the popular affordable housing segment, a top company executive told Reuters.</p>.<p>DLF said on Wednesday it has sold out its luxury residential project in Gurugram near New Delhi in 72 hours, generating more than Rs 8,000 crore ($967 million) in sales, confirming a <em>Reuters</em> story from earlier this month.</p>.<p>Luxury housing is booming in India. A record 65,700 luxury housing units were sold in 2022, thanks to rising disposable incomes and a surge in demand after the Covid-19 pandemic, especially, developers say, for spacious apartments with conveniences like concierge services and spas.</p>.<p>This growing demand from consumers wanting to upgrade their homes and splurge more is a key reason why DLF will continue to focus on the luxury housing space, Chief Executive Officer Ashok Kumar Tyagi told <em>Reuters </em>in an interview.</p>.<p>"We've been strong in this premium luxury, super luxury segment," he said.</p>.<p>"We've sort of made it very transparently clear that we are not into the truly affordable (segment) ... I think it's a great segment. But it's just that we don't find adequate ways of making it profitable for us."</p>.<p>Luxury condominiums, defined as those selling above Rs 1.5 crore ($183,000), accounted for 17 per cent of all launches in 2022, an at least five-year high, data from Anarock Property Consultants data shows.</p>.<p>On the other hand, launches of once-popular affordable homes — those priced below Rs 40 lakh — halved to 20 per cent of the total in the period.</p>.<p>DLF's Arbour project in Gurugram attracted more than 3,000 applications for 1,137 apartments priced at $869,000 each. Rival Godrej Properties is offering $3 million apartments to clients selected by invitation, <em>Reuters</em> has reported.</p>.<p>Tyagi added DLF would look at more luxury housing projects in big cities like New Delhi, Mumbai and Chennai, but declined to share further details on future plans.</p>
<p>India's top real estate developer DLF will continue to focus on building luxury and premium projects as it finds it difficult to make profits in the popular affordable housing segment, a top company executive told Reuters.</p>.<p>DLF said on Wednesday it has sold out its luxury residential project in Gurugram near New Delhi in 72 hours, generating more than Rs 8,000 crore ($967 million) in sales, confirming a <em>Reuters</em> story from earlier this month.</p>.<p>Luxury housing is booming in India. A record 65,700 luxury housing units were sold in 2022, thanks to rising disposable incomes and a surge in demand after the Covid-19 pandemic, especially, developers say, for spacious apartments with conveniences like concierge services and spas.</p>.<p>This growing demand from consumers wanting to upgrade their homes and splurge more is a key reason why DLF will continue to focus on the luxury housing space, Chief Executive Officer Ashok Kumar Tyagi told <em>Reuters </em>in an interview.</p>.<p>"We've been strong in this premium luxury, super luxury segment," he said.</p>.<p>"We've sort of made it very transparently clear that we are not into the truly affordable (segment) ... I think it's a great segment. But it's just that we don't find adequate ways of making it profitable for us."</p>.<p>Luxury condominiums, defined as those selling above Rs 1.5 crore ($183,000), accounted for 17 per cent of all launches in 2022, an at least five-year high, data from Anarock Property Consultants data shows.</p>.<p>On the other hand, launches of once-popular affordable homes — those priced below Rs 40 lakh — halved to 20 per cent of the total in the period.</p>.<p>DLF's Arbour project in Gurugram attracted more than 3,000 applications for 1,137 apartments priced at $869,000 each. Rival Godrej Properties is offering $3 million apartments to clients selected by invitation, <em>Reuters</em> has reported.</p>.<p>Tyagi added DLF would look at more luxury housing projects in big cities like New Delhi, Mumbai and Chennai, but declined to share further details on future plans.</p>