DLF reports consolidated net profit of Rs 1,387 cr in July-Sept quarter of FY2024-25
New Delhi: Realty major DLF on Friday declared its financial results for second quarter of FY2024-25.
The consolidated revenue of the company stood at Rs 2,181 crore. Its gross margins stood at 45 per cent.
The firm reported net profit of Rs 1,387 crore, including reversal of deferred tax liabilities of Rs 606 crore, pursuant to change in tax rate on long term capital gain on enactment of the Finance Act, 2024.
The outlook for the residential business continues to be strong and our development business continues to exhibit steady performance.
New sales bookings during the quarter were down to Rs 692 crore reflecting delay in receiving the requisite approvals for our new product launches.
The approval for our super luxury offering-The Dahlias in DLF 5, Gurugram, have since been received in the early part of the current quarter.
New sales bookings for the first half of the fiscal stands at Rs 7,094 crore and we remain on track to meet our guidance for the full fiscal.
Our net cash position stood at Rs 2,831 crore at the end of the period despite a higher dividend payout of Rs 1,238 crore during this quarter. The company reported a healthy operating cash surplus at Rs 1,211 crore.
DCCDL delivered another strong quarter.
Consolidated revenue of DLF Cyber City Developers Limited (DCCDL) for Q2 FY2024-25 stood at Rs 1,653 crore, reflecting y-o-y growth of 13 per cent, while its consolidated profit for the quarter stood at Rs 521 crore, registering a healthy growth of 25 per cent as compared to Q2 FY24.
Rental business of DLF is experiencing a positive upturn and is demonstrating steady growth.
Encouraged by these strong trends, the firm has accelerated its capex commitments to fuel growth of our rental portfolio and has commenced development of the subsequent phases of Downtown, Chennai and Downtown, Gurugram totaling around 11 msf which includes a large 2 msf (approximate) retail destination in
Gurugram.
DLF’s ongoing projects, including Atrium Place in Gurugram and 3 retail malls, remain on track to commence rents in the next fiscal.
