Who Is Manav Sardana? Entrepreneur Buys INR 271 Crore DLF the Dahlias’ in Gurugram in 1 of India’s Costliest Deals

Realty major DLF Ltd has sold a penthouse for INR 271 crore at its upcoming luxury housing project The Dahlias in Gurugram, making it one of India’s costliest residential deals and, according to people aware of the transaction, the most expensive single-unit residential transaction in the country. The buyer is entrepreneur Manav Sardana, who was associated with Imperial Auto.

The penthouse, located in DLF Phase 5, has a super area of 17,200 square feet and a carpet area of 10,500 square feet. The transaction works out to around INR 1.58 lakh per square foot on a super-area basis and nearly INR 2.6 lakh per square foot on carpet area. DLF Q1FY27 Net Profit Rises 4% to Rs 794 Crore; Net Cash Position Improves to Rs 15,200 Crore.

INR 271 Crore Penthouse Deal at The Dahlias

DLF launched The Dahlias, a 17-acre super-luxury residential project in October 2024. The development comprises 420 apartments and penthouses. Sources said Sardana purchased the penthouse in the project. A DLF spokesperson declined to comment on the sale.

The price of apartments at The Dahlias ranges from INR 100 crore to INR 170 crore, while penthouses command higher prices. DLF expects the project to generate total revenue of more than INR 40,000 crore. More than 65% of its units have already been sold, according to sources.

Who Is Manav Sardana?

Manav Sardana is an entrepreneur who has been associated with the automotive-components business. He served as a whole-time director of Imperial Auto Industries, according to company records. His name also appears in corporate records for several other companies, including Imperial Silicon, Kreuz Hydraulics and Chattels Estate.

Imperial Auto was acquired by global private-equity firm Warburg Pincus, according to reports on the INR 271-crore transaction. Sardana's association with Imperial Auto dates back to 2020, when he was appointed an additional director and later became a whole-time director.

Luxury Housing Demand Remains Strong

The deal comes amid sustained demand for high-end residential properties in India's major cities following the Covid-19 pandemic. Gurugram and Mumbai have emerged as key markets for large-ticket apartment and penthouse transactions, with affluent buyers continuing to seek premium homes in established luxury developments.

The Dahlias is among DLF's latest ultra-luxury residential offerings in Gurugram, targeting buyers at the top end of the housing market.

DLF Sales Bookings Under Pressure

The record-value transaction comes even as DLF's sales bookings have weakened in the current financial year. During the first quarter of 2026-27, DLF's sales bookings or pre-sales fell 94% to INR 657 crore, largely because the company did not launch any project during the period.

For 2025-26, DLF's sales bookings declined 5% to INR 20,143 crore from a record INR 21,223 crore in the previous financial year. The company had set a sales bookings guidance of INR 20,000 crore for 2026-27 and remains confident of achieving the target despite the sharp fall in the June quarter.

DLF Reports Higher Profit

DLF reported a 4% increase in consolidated net profit to INR 793.90 crore for the quarter ended June. However, total income fell to INR 1,605.56 crore in the first quarter of 2026-27 from INR 2,980.88 crore in the corresponding quarter of the previous year.

DLF has developed more than 185 real estate projects covering over 352 million square feet. The group has around 275 million square feet of development potential across residential and commercial segments.

The INR 271-crore penthouse transaction highlights the continuing appetite for ultra-luxury homes even as the broader performance of the real estate developer remains influenced by its project-launch cycle.

(The above story first appeared on LatestLY on Aug 10, 2026 09:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).