DLF Q3 Results: Total income increased to Rs 1644 crore in October-December 2023-24 from Rs 1559.66 crore in the previous year, according to a regulatory filing.

DLF Limited declared a consolidated net profit of Rs 649 crore for the third quarter of this fiscal year on January 24, up 26% year on year, according to a regulatory filing. It further stated that DLF achieved its best quarterly sales booking of Rs 9,047 crore, owing to various launches throughout the quarter.

According to a regulatory filing, the company’s consolidated sales increased to Rs 1644 crore in October-December 2023-24, up from Rs 1559.66 crore the previous year.

DLF posted a total net profit of Rs 629 crore in the second quarter of current fiscal year, up 29 percent YoY.

DLF’s EBITDA in the third quarter was Rs 633 crore, with an operating surplus of Rs 1108 crore. The company’s EBITDA was Rs 591 crore in the second quarter.

“We generated our best quarterly sales booking of Rs 9,047 crore, owing to various releases throughout the quarter. 

Throughout the quarter, we introduced three new products totaling more than 5 million square feet (msf) across several categories. The launches during the quarter were DLF Privana South, Gurugram, a premium high-rise development, Central 67, Gurugram, a shop-cum-offices planned development, and The Valley Orchard, Panchkula, low-rise independent floors,” the real estate company stated in the statement.

DLF reported strong demand for all of these goods, with both Gurugram projects selling out in record time.

“With this robust performance, new sales bookings for the nine-month period totaled Rs 13,316 crore, comfortably exceeding our full-year target. “We increased our net cash position to Rs 1,246 crore at the end of the quarter,” the business stated.

DLF’s office portfolio performed consistently, while the retail section continued to develop strongly.

DLF Cyber City Developers Limited (DCCDL)’s consolidated revenue for the office portfolio in Q3FY24 was Rs 1,476 crore, an increase of 8% year on year. The consolidated profit for the quarter was Rs 434 crore, a 21% year-on-year increase, according to the business.

DCCDL’s credit rating was improved to ICRA AA+/Stable this quarter, demonstrating the intrinsic soundness and quality of our rental portfolio, according to the business.

“Our non-SEZ division continues to run at a robust 97% occupancy rate. Our new office complexes in Gurugram and Chennai continue to attract considerable interest from big occupiers, resulting in a pre-leasing of around 91 percent. The government’s plan to change SEZ laws to allow floor-wise denotification should also contribute to a rebound in the SEZ market. “We anticipate that occupancy levels in this segment will return to normal in the coming quarters,” DLF stated.

The firm stated that it will continue to focus on expanding its retail offering across numerous geographies.

DLF is the largest real estate firm by market capitalization. It has produced over 153 real estate projects totaling more than 330 million square feet. The Group has 215 million square feet of development potential in the residential and commercial areas. The company’s commercial portfolio spans more than 40 million square feet and generates rent.

Source : Money Control