Real estate major DLF Ltd on July 25 reported a 23% rise in its consolidated net profit at ₹645.61 crore in the first quarter of this fiscal on higher income. It was ₹527 crore in the year-ago period.
The company’s total income increased to ₹1,729.82 crore during the April-June period of this fiscal from ₹1,521.71 crore in the corresponding period of the previous year, the company said in a regulatory filing.
“Our development business recorded another quarter of strong sales booking of ₹6,404 crore leading to a record first quarter sales booking. We launched the second phase of our luxury project in New Gurugram- Privana West, which witnessed strong demand momentum and consequently was entirely sold-out clocking ₹5,600 crore of new sales bookings,” the company said.
Also Read: DLF to launch real estate projects with ₹36,000 crore sales potential in Gurugram, Mumbai and Goa this year
The company believes that the residential segment is witnessing a structural upcycle and hence “we continue to strengthen our new product pipeline. We stay committed towards leveraging this positive momentum and have planned a strong launch pipeline of an additional 9 msf of new products during the fiscal, across various segments and geographies including Gurugram, Mumbai, Goa and Chandigarh Tri-city,” it said.
Also Read: DLF, Macrotech, IHC among India’s most valuable real estate companies: Grohe-Hurun list
“We continue to witness healthy sales momentum and strong growth in collections leading to further improvement in our net cash position, which stood at ₹2,896 crore at the end of the period as compared to net debt of ₹57 crore in Q1FY24,” it said.
The company’s rental business continued its steady performance during the period. Q1FY25 consolidated revenue of DLF Cyber City Developers Limited (“DCCDL”) stood at ₹1,553 crore, reflecting y-o-y growth of 10%; consolidated profit for the quarter stood at ₹470 crore, registering a y-o-y growth of 20%, the company said.
Also Read: Delhi’s DLF announces re-entry into Mumbai real estate market
“We continue to have a positive outlook on the rental business and are accelerating our capex commitments to further strengthen our rental portfolio and deliver healthy growth,” it said.
DLF has developed more than 178 real estate projects and developed an area in excess of 349 million square feet.
