In a statement, DLF said that when compared to the same period last year, their sales bookings increased by a factor of two, to Rs 2,040 crore.
Due to improved sales, real estate giant DLF Ltd. announced a 39% increase in its consolidated net profit to Rs. 469.56 crore for the quarter that ended in June. It had a net profit of Rs. 337.16 crores in the previous fiscal year.
Based on a regulatory filing, overall income rose from Rs. 1242.27 crores in the same time last year to Rs. 1,516.28 crore in the first quarter of the current fiscal year.
“The residential demand is still gaining strength. One significant trend that is anticipated to persist is the high demand for luxury residences,” the firm stated.
DLF also noted that during the quarter, sales bookings from their opulent property, ‘The Camellias,’ totaled Rs 352 crore.
While increasing borrowing rates may provide some difficulties, DLF stated that they anticipate the structural recovery in the residential market to continue.
The firm would keep introducing innovative services across a variety of markets and regions.
Additionally, it would continue to focus on generating operating cash flow excess.
“Our quarter’s surplus cash flow of Rs. 421 crore allowed for even more deficit spending, keeping our gross debt at one of the lowest levels ever at Rs. 2259 crore at the conclusion of the quarter,” the company claims.
According to market capitalization, DLF is the largest real estate firm.
Over 153 real estate developments totaling more than 330 million square feet have been created by it thus far.
The Group’s potential for development in the residential and commercial sectors totals 215 million square feet.
Over 40 million square feet of the group’s commercial property in Gurgaon produce rent.
