DLF Sees Significant Growth in Q1 Profit and Sales Bookings
DLF, India's leading real estate developer, reports a 23% increase in Q1 profit driven by strong housing demand, with sales bookings surging over 3-fold to Rs 6,404 crore.
Real EstateDlfQ1 ProfitSales BookingsHousing DemandReal Estate MumbaiJul 25, 2024
In the year-ago period, the company's net profit stood at Rs 527 crore. The total income has also witnessed a substantial increase, rising to Rs 1,729.82 crore during the April-June period of this fiscal year from Rs 1,521.71 crore in the corresponding period of the previous year.
The development business of DLF has recorded another quarter of strong sales bookings, with a total value of Rs 6,404 crore. This represents an annual growth of 214% and is driven by the second phase of its luxury project in New Gurugram, 'Privana West', which has been entirely sold-out and has clocked Rs 5,600 crore.
DLF believes that the residential segment is witnessing a structural upcycle and is, therefore, committed to strengthening its new product pipeline. The company has planned a strong launch pipeline of an additional 9 million square feet of new products during the fiscal year, across various segments and geographies including Gurugram, Mumbai, Goa, and Chandigarh Tri-city.
The company has also witnessed healthy sales momentum and strong growth in collections, leading to further improvement in its net cash position. Its rental business, operated by DLF Cyber City Developers Ltd (DCCDL), has continued its steady performance during the period, with revenue standing at Rs 1,553 crore, reflecting a year-over-year growth of 10%.
DLF is India's leading real estate developer, with a track record of over seven decades. The company has developed more than 178 real estate projects and has developed an area in excess of 349 million square feet. The DLF Group has 220 million square feet of development potential across residential and commercial segments, as well as an annuity portfolio of over 44 million square feet.
Information
DLF Ltd is India's leading real estate developer, with a diverse portfolio of residential, commercial, and retail projects. The company has a strong presence in major cities across India, including Delhi-NCR, Mumbai, Chennai, and Hyderabad, among others.
DLF Cyber City Developers Ltd (DCCDL) is the rental arm of DLF Ltd, operating a large portfolio of commercial and retail properties across India.
Frequently Asked Questions
What is the percentage increase in DLF's Q1 profit?
23%
What is the value of DLF's sales bookings in Q1?
Rs 6,404 crore
What is driving the growth in DLF's sales bookings?
Strong housing demand
What is the growth rate of DLF's rental business revenue?
10%
What is the total area developed by DLF?
Over 349 million square feet
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