DLF reported decline in new sales booking during July-September quarter due to delay in receiving the requisite approvals for launches.
The company reported new sales bookings of Rs 692 crore against Rs 6,404 crore, during the previous quarter.
DLF’s net profit stood at Rs 1,387 crore, which includes reversal of deferred tax liabilities of Rs 606 crore, pursuant to change in tax rate on longterm capital gain on enactment of the Finance Act, 2024
“The outlook for the residential business continues to be strong and ourdevelopment business continues to exhibit steady performance,” the company said in a statement.
The approval for DLF’s super luxury offering-The Dahlias in DLF 5, Gurugram, have been received in the early part of the current quarter.
“New sales bookings for the first half of the fiscal stands at Rs 7,094 crore and we remain on track to meet our guidance for the full fiscal,” DLF said.
DLF’s net cash position stood at Rs 2,831 crore at the end of the period despite a higher dividend payout of Rs 1,238 crore during this quarter.
During Q2FY25 consolidated revenue of DLF Cyber City Developers Limited ( DCCDL), rental arm of the company, stood at Rs 1,653 crore, reflecting y-o-y growth of 13%; while consolidated profit for the quarter stood at Rs 521 crore, registering a growth of 25% as compared to Q2FY24.
“Our rental business is experiencing a positive upturn and is demonstrating steady growth. Encouraged by these strong trends, we have accelerated our capex commitments to fuel growth of our rental portfolio and have commenced development of the subsequent phases of Downtown, Chennai and Downtown, Gurugram totaling around 11 msf which includes a large 2 msf (approximate) retail destination in Gurugram,” the company said.
DLF’s ongoing projects, including Atrium Place in Gurugram and 3 retail malls, remain on track to commence rents in the next fiscal.
The company reported new sales bookings of Rs 692 crore against Rs 6,404 crore, during the previous quarter.
DLF’s net profit stood at Rs 1,387 crore, which includes reversal of deferred tax liabilities of Rs 606 crore, pursuant to change in tax rate on longterm capital gain on enactment of the Finance Act, 2024
“The outlook for the residential business continues to be strong and ourdevelopment business continues to exhibit steady performance,” the company said in a statement.
The approval for DLF’s super luxury offering-The Dahlias in DLF 5, Gurugram, have been received in the early part of the current quarter.
“New sales bookings for the first half of the fiscal stands at Rs 7,094 crore and we remain on track to meet our guidance for the full fiscal,” DLF said.
DLF’s net cash position stood at Rs 2,831 crore at the end of the period despite a higher dividend payout of Rs 1,238 crore during this quarter.
During Q2FY25 consolidated revenue of DLF Cyber City Developers Limited ( DCCDL), rental arm of the company, stood at Rs 1,653 crore, reflecting y-o-y growth of 13%; while consolidated profit for the quarter stood at Rs 521 crore, registering a growth of 25% as compared to Q2FY24.
“Our rental business is experiencing a positive upturn and is demonstrating steady growth. Encouraged by these strong trends, we have accelerated our capex commitments to fuel growth of our rental portfolio and have commenced development of the subsequent phases of Downtown, Chennai and Downtown, Gurugram totaling around 11 msf which includes a large 2 msf (approximate) retail destination in Gurugram,” the company said.
DLF’s ongoing projects, including Atrium Place in Gurugram and 3 retail malls, remain on track to commence rents in the next fiscal.
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