Real estate major DLF Ltd reported a 27 per cent growth in net profit at ₹656 crore for the quarter ended December 31, 2023. Net profit in the year-ago-period stood at ₹518 crore.
The company reported consolidated revenue of ₹1,644 crore, up 6 per cent from ₹1,560 crore, in the year-ago-period.
Quarterly bookings stood at ₹9,047 crore – one of the highest ever – backed by a series of premium, high-margin project launches.
Gross margin stood at 56 per cent, while EBITDA was at ₹633 crore. Cash surplus stood at ₹1,108 crore.
New sales bookings for the nine-month-period stood at ₹13,316 crore, higher than its full-year guidance of ₹13,000 crore.
Office Portfolio
In a statement to the bourses, DLF said its office portfolio “exhibited a sustained performance while retail segment continues to deliver healthy growth.”
In Q3 consolidated revenue of DLF Cyber City Developers Limited (DCCDL) was ₹1,476 crore, up 8 per cent. Consolidated profit was at ₹434 crore, up 21 per cent.
The board also approved the sale of DLF Centre to DLF Cyber City Developers for ₹825 crore, the company said in a regulatory filing.
“In line with the company’s stated intent and strategy to consolidate the rental business, the board has approved the sale of one of the compony’s assets namely ‘DLF Centre’, a commercial building in Central Business District of New Delhi to DLF Cyber City Developers Ltd, a material subsidiary of the company of on aggregate consideration of Rs 825 crores,” the company said.
The company’s non-SEZ segment had an occupancy of 97 per cent. ““New office developments across Gurugram and Chennai have achieved a pre-leasing of approximately 91 per cent,” it said in a statement.