DLF’s net profit jumps 12% to Rs 528 crore in 1st quarter of FY24

New Delhi: DLF Limited announced its Q1FY24 results on Friday. The company’s business continues to exhibit sustained momentum across all key parameters.

For Q1FY24 – DLF Limited’s consolidated Revenue stood at Rs 1,522 crore, with Gross margins at 52 per cent. The company’s EBITDA stood at Rs 495 crore, while the firm reported net Profit at Rs 528 crore, reflecting Y-o-Y growth of 12 per cent.

New sales bookings for the quarter stood at Rs 2,040 crore. Our launched inventory continues to witness healthy traction from customers.

The firm continues to focus on strengthening the balance sheet and cash generation. Strong collections led to a further reduction in net debt during the quarter. Consequently, the comapny’s net debt now stands reduced to the lowest ever at Rs 57 crore.

The office portfolio maintained its stability, while the retail business continues to follow an upward growth trajectory.

Q1FY24 consolidated revenue of DLF Cyber City Developers Limited stood at Rs 1,412 crore, reflecting y-o-y growth of 12 per cent; consolidated profit for the quarter stood at Rs 391 crore, a y-o-y growth of 21 per cent.

DLF is experiencing strong demand for new office developments and the company has achieved pre-leasing of approximately 82 per cent across its two new office complexes – DLF Downtown in Gurugram and Chennai.

The firm remains enthused about the growth prospects of our retail business and remain committed towards expanding its retail offerings in multiple markets.