DLF’s Profit Soars 23% to Rs 645.61 Crore in Q1 FY25
DLF Ltd, one of India’s leading real estate developers, reported a significant surge in its consolidated profit for the first quarter of the fiscal year 2024-25. The company’s profit increased by 23% to reach Rs 645.61 crore, compared to Rs 527 crore in the same period last year.
Record Sales of Rs 6,404 Crore Fuel DLF’s Profit Growth
DLF achieved a milestone with record property sales amounting to Rs 6,404 crore in the first quarter of the fiscal year. This remarkable growth in sales was fueled by strong housing demand and the success of their luxury project in New Gurugram, called ‘Privana West.’ The project witnessed exceptional demand and was completely sold out, contributing Rs 5,600 crore to the overall sales.
“We believe that the residential segment is witnessing a structural upcycle, and hence we continue to strengthen our new product pipeline,” stated DLF. The company plans to launch an additional 9 million square feet of new products across various segments and geographies, including Gurugram, Mumbai, Goa, and the Chandigarh Tri-city. This strategic move aligns with their commitment to capitalizing on the current positive momentum in the market.
Further Improvement in Net Cash Position
DLF also highlighted that they continue to experience healthy sales momentum and robust growth in collections, resulting in an improvement in their net cash position. This positive aspect demonstrates the company’s consistent performance and solid financial foundation.
Strength in Rental Business
DLF’s rental arm, DLF Cyber City Developers Ltd (DCCDL), achieved revenues of Rs 1,553 crore, indicating a year-on-year (y-o-y) growth of 10%. The consolidated profit for this quarter reached Rs 470 crore, showcasing a y-o-y growth of 20%.
The company maintains a positive outlook on its rental business and intends to accelerate its capital expenditure commitments, aiming to strengthen its rental portfolio and sustain healthy growth.
DLF’s Strong Position in Indian Real Estate
DLF has an impressive legacy of more than seven decades in the real estate industry. With over 178 real estate projects and an area developed in excess of 349 million square feet, DLF is a trusted name in the sector. The company holds a significant development potential of 220 million square feet across residential and commercial segments, with an annuity portfolio of over 44 million square feet.
A Promising Future for DLF
As DLF continues to achieve substantial growth in sales and profitability, the company remains optimistic and focused on capturing new business opportunities. Their strategic plans to strengthen their product pipeline and expand geographically exhibit their long-term vision.
With a track record of successful projects and a reputation for delivering quality developments, DLF is poised to thrive in the evolving Indian real estate market.
Disclaimer: This article is for informational purposes only. The information provided is based on the sources mentioned in the article. The publisher takes no responsibility for the accuracy of the mentioned details or any consequential actions based on this information.
