Real estate major DLF Ltd reported a consolidated net profit at ₹487 crore for the quarter ending September 30, reflecting a y-o-y increase of 28 per cent.
The company’s consolidated revenue stood at ₹1,360 crore while EBITDA stood at ₹495 crore. Margins improved to 36 per cent, said a statement. Housing demand continued to remain buoyant during the period.
Sustained demand
“The luxury segment continues to witness sustained demand with a clear shift towards larger homes. We continue to experience further consolidation across the industry in the backdrop of changing consumer preference towards quality offerings from large and credible players,” said the statement.
Despite the interest rates hike, DLF has not experienced any material impact on housing demand so far. In case of residential sales, new sales bookings of ₹2,052 crore, reflecting a y-o-y growth of 36 per cent.
Cumulative new sales for H1 FY23 stand at ₹4,092 crore, in line with the company’s guidance.
Three new products across multiple price segments — The Grove in DLF5, Gurugram; The Valley Gardens in Panchkula and Garden City Enclave-Independent floors in Sector 93, Gurugram — were launched during the period under review.