Real estate developer DLF on Wednesday reported a 36.8 per cent rise in consolidated net profit to ₹519.21 crore for the December 2022 quarter. This is against a net profit of ₹379.48 crore in the year-ago period, DLF said in a regulatory filing.
The consolidated revenue from operations of DLF declined by 3.5 per cent to ₹1,494.8 crore in the quarter under review from ₹1,549.7cr crore a year ago.
The earnings before interest, taxes, depreciation and amortization (EBITDA) down 8.5 per cent on year to ₹477.2 crore as against ₹521.3 crore on a year basis, while the margins came in at at 31.9% as against 33.6%.
DLF’s expenses in the quarter fell almost 5% to ₹1,151.62 crore as compared to ₹1,211.26 core on a year basis.
On a standalone basis, DLF reported a 57.5 per cent rise in standalone net profit to ₹294.86 crore for the December 2022 quarter. This is against a net profit of ₹187.19 crore in the year-ago period, DLF said in a regulatory filing. The revenue from operations of DLF declined by 18.16 per cent to ₹925.31 crore in the quarter under review from ₹1,130.76 crore a year ago.
The residential business of DLF clocked one of the highest quarterly new sales bookings of ₹2,507 crore, reflecting 24 per cent growth year-on-year(YoY) basis. The cumulative new sales for 9MFY23 stand at ₹6,599 crore, reflecting growth of 45% on YoY basis.
DLF’s luxury offering, The Grove at DLF5, Gurugram, stands completely sold-out. The sales bookings during the quarter for this product stood at ₹1,570 crore.
The second phase of its recently launched product-The Valley Gardens in Panchkula clocked in sales bookings of ₹540 crore during the quarter.
“We remain enthusiastic about the housing industry’s intrinsic growth potential which continues to be supported by a resilient economy. Our focus remains on creating customer-centric products that provide a distinctive living experience with best-in-class amenities across our established ecosystems,” it said in a statement.
Recently, DLF has issued clarification on news reports of Noida Authority issuing notice to the company demanding ₹235 crore. In a regulatory filing the real estate developer said that they have received any notice from Noida Authority till now.
Earlier, news agency PTI had reported that the Noida Authority has issued a notice to real estate developer DLF to pay ₹235 crore as compensation to the previous owner of the land on which the Mall of India has been built.
The company’s scrip ended 3.60 per cent down to ₹352 on BSE.
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