DLF’S June quarter profit up 23% to Rs 646 crore

New Delhi: Realty major DLF Ltd on Thursday reported a 23 per cent increase in its consolidated net profit to Rs 646 crore in the first quarter of this fiscal and clocked record sales of properties of Rs 6,404 crore during the quarter on strong housing demand.

Its net profit stood at Rs 527 crore in the year-ago period.

Total income rose to Rs 1,730 crore during the April-June period of this fiscal from Rs 1,521.71 crore in the corresponding period of the previous year, according to a regulatory filing.

The company’s gross margins rose to 51 per cent as compared to 52 per cent in previous period.

The firm reported healthy operating cash flow at Rs 1,849 crore, up by 133 per cent year-on-year.

“Our development business recorded another quarter of strong sales booking of Rs 6,404 crore leading to a record first quarter sales booking,” the company said in a statement.

New Sales bookings stood at Rs 6,404 crore during the Q1 of FY25, registering an annual growth of 214 per cent.

The sales bookings were driven by the second phase of its luxury project in New Gurugram- ‘Privana West’, which witnessed strong demand momentum and was entirely sold-out clocking Rs 5,600 crore.

The company said it continues to witness healthy sales momentum and strong growth in collections leading to further improvement in its net cash position.

“Our rental business continued its steady performance during the period,” DLF said.

DLF’s rental arm DLF Cyber City Developers Ltd (DCCDL) revenue stood at Rs 1,553 crore, reflecting y-o-y growth of 10 per cent while consolidated profit for the quarter stood at Rs 470 crore, registering a y-o-y growth of 20 per cent.