DLF profit up by 23% to ₹645.61 crore in Apr-June quarter

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.

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.

“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.

“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.