DLF net profit up 60% in Q4 on strong sales
Realty major, DLF Ltd reported an over 60 per cent rise in consolidated net profit to ₹920 crore for the quarter ending March 31, 2024. The company’s net profit in the year-ago-period was ₹570 per cent.
Revenue for the quarter stood at ₹2,317 crore. Gross margins stood at 60 per cent, it said in a statement. For the fiscal, net profit stood at ₹2,733 crore, up 33 per cent yoy, whereas FY24 revenues were at ₹6,958 crore.
The company recorded new sales bookings of ₹14,778 crore. The company, in a statement, said it launched approximately 6 msf of new products during the year “which saw strong absorption resulting in monetisation of almost entire inventory during the launch period”.
Cash generation from operations stood a record high of ₹4,385 crore.
The board has announced a dividend of ₹5 per share for the approval of the shareholders. The payout reflects a y-o-y growth of 25 per cent, in the payout compared with last year.
FY25 OUTLOOK
DLF expects, demand momentum in the residential segment “to stay strong” and in view of such strong demand, it will be “bringing (in) a calibrated supply across multiple micro markets”. Plans are afoot to to launch more than 11 million sq feet (msf ) of new products during FY25, “targeting various markets including Gurugram, Mumbai, Goa and Chandigarh”.
“The estimated sales potential of these launches is approximately ₹36,000 crore which should lead to steady growth in the business,” the realty major said in its statement. Oce BusinessDLF said, its retail segment “continues to deliver strong growth”. Occupancy levels across the non-SEZ portfolio was 97 per cent.