On the strength of strong residential demand across product categories, DLF Ltd, India’s largest real estate company, recorded a net profit of 378.12 crores in the September quarter, up 66 percent from 227.5 crores a year ago.
However, revenue for the second quarter decreased to 1557 crore, down from 1723.09 crores in the previous quarter.
During the September quarter, new sales bookings totaled 1,512 crores. In the quarter, DLF’s super-luxury property ‘The Camellias’ set a new sales record of Rs 1,037 crore.
“Demand for our new independent floor products in the Gurugram market is continuing to grow at a steady rate. Our completed inventory is still being monetized across marketplaces, which is gaining traction “In a statement, DLF added.
“These improved demand trends in the residential markets give us hope, and we expect them to continue for the foreseeable future.” We will continue to bring innovative offerings across segments and geographies, based on this bullish outlook underpinned by stronger underlying drivers. We anticipate further margin expansion for our projects as volumes increase and price increases are well-timed “According to the Gurugram-based firm.
Its concentration on collections, along with cautious capital allocation, resulted in a strong cash generation of 759 crores in the July-September period, according to the company.
DLF Cyber City Developers Ltd, the company’s rental business, reported revenue of 1123 crore, up from 1040 crore the previous year.
“As India’s largest real estate company, we are committed to driving business success while also creating resilient ecosystems that encourage a more sustainable way of life.” We are constantly working to integrate leading ESG practices into our operations and company. “This acknowledgment of our ESG activities is just another monument to our efforts,” stated DLF’s whole-time director and CEO, Ashok Kumar Tyagi.
