DLF profit fell 16% to Rs 405 crore in January-March
Real’s main DLF on Tuesday saw its net profit fall 16 per cent to Rs 405.33 crore for the quarter ended March due to lower earnings.
The company had a net profit of Rs 480.94 crore in the year-ago period, according to a regulatory filing.
Total income declined by Rs 1,652.13 crore in the fourth quarter of last fiscal, compared to Rs 1,906.59 crore in the same period last year.
Net profit increased from Rs 1,093.61 crore in FY 2020-21 to Rs 1,500.86 crore in the last financial year. Total income increased to Rs 6,137.85 crore in 2021-22 from Rs 5,944.89 crore in the previous year.
In a statement, DLF said its sales bookings had more than doubled to Rs 7,273 crore. At the end of the financial year, net debt stood at Rs 2,680 crore, down 46 per cent year-on-year.
Housing demand continues to show a structural rise across divisions and geographies, it said.
“The residential business has shown record performance in the financial year. We have seen strong growth across all of our segments, with the luxury segment leading the trend, ”the statement said.
DLF’s super-luxury offer – The Camellias, continues to attract strong customers and offers healthy sales bookings of Rs 2,550 crore in the financial year.
New product sales bookings stood at Rs 4,683 crore in the financial year.
“We are focusing on increasing the surplus cash production from our operations,” DLF said.
“Strong collection with the sales ramp-up has resulted in one of the highest levels of surplus cash production of Rs 2,205 crore in FY,” DLF said.
Sustainable momentum and strong tailwinds are expected to support the structural rise of housing demand in the medium term, the company said.
“We continue to try to scale our new product offerings across departments and geographies,” DLF said.
DLF Cyber City Developers Limited (DCCDL) says the rental business has continued its steady path to recovery.
“Office occupancy is slowly recovering and stood at 88% at the end of the fiscal year,” the DLF said, adding that retail business continued to make a strong comeback in the fiscal year, adding.
“Rental income has increased by 10 per cent year-on-year; 67 percent of retail revenue is supported by rebounds, ”the DLF said.
DLF is India’s leading real estate developer.
It has created more than 153 real estate projects and created an area of more than 330 million square feet.
The residential and commercial parts of the DLF Group have 215 million square feet of development potential.
The group has an annual portfolio of over 40 million square feet. DLF is primarily involved in the development and sale of residential property and the development and leasing of commercial and retail property.
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