by THO
Real estate major DLF on January 24 reported an almost 61% increase in its consolidated profit to ₹1,058.73 crore for the third quarter ended December 31, 2024. Its net profit stood at ₹655.71 crore in the year-ago period.
Total income rose to ₹1,737.47 crore in the third quarter of this fiscal from ₹1,643.51 crore in the preceding year’s corresponding period, according to a regulatory filing.
During the April-December period of the 2024-25 fiscal year, the company’s net profit rose to ₹3,084.62 crore from ₹1,803.71 crore in the year-ago period.
Total income grew to ₹5,648.12 crore in the first nine months of this fiscal from ₹4,641.64 crore in the corresponding period of the preceding financial year. The company’s market capitalisation stood at ₹1,72,046.54 crore.
“Our development business continues its growth trajectory, delivering record new sales bookings of ₹12,093 crore during the quarter. Our latest super luxury offering, The Dahlias in DLF 5, Gurugram, performed exceptionally well, garnering ₹11,816 crore of new bookings in the opening quarter,” the company said in its statement.
“The overwhelming response to our new offering has resulted in the Company surpassing its annual guidance. New sales bookings for the first nine months of the fiscal year stand at ₹19,187 crore,” it said.
It said that DCCDL delivered another strong quarter. Q3FY25 consolidated revenue of DLF Cyber City Developers Limited stood at ₹1,609 crore, reflecting y-o-y growth of 9%; consolidated profit for the quarter stood at ₹941 crore, registering a healthy growth of 117% as compared to Q3FY24.
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“Our rental business continues to demonstrate steady growth, and we continue to have a positive outlook. We have laid down a strong capex program to accelerate the build out of our new products. Development of subsequent phases of Downtown, Chennai and Downtown, Gurugram totaling around 11 msf remains on track. Our ongoing projects, including Atrium Place in Gurugram and three retail malls, are expected to be completed soon, with rents commencing in the next fiscal year,” the company said.
“We believe that our business is well poised to leverage this structural upcycle backed by a significant land bank having high embedded potential, a robust pipeline of new products across both development and rental business, strong balance sheet and consistent cash flow generation,” it said.
DLF has developed more than 185 real estate projects and an area of more than 352 million square feet (approx.). DLF Group has 220 msf (approx.) of development potential across residential and commercial segments. The group has an annuity portfolio of over 44 msf (approx). DLF is primarily engaged in the business of development and sale of residential properties and the development and leasing of commercial and retail properties.
