DLF's Q1 profit rises 23% to Rs 645.61 crore; sales bookings triple to Rs 6,404 crore

DLF Q1 results: Real estate giant DLF Ltd announced a 23 per cent increase in its consolidated profit for the first quarter of the current fiscal year, reaching Rs 645.61 crore. The rise was accompanied by record property sales of Rs 6,404 crore, fuelled by strong housing demand.

The company's net profit stood at Rs 527 crore during the same period last year. Total income also saw an increase, climbing to Rs 1,729.82 crore in the April-June period from Rs 1,521.71 crore in the corresponding period of the previous year, as per a regulatory filing.

In a statement, DLF highlighted its robust sales performance, noting that new sales bookings surged to Rs 6,404 crore in the first quarter of 2024-25, marking an annual growth of 214 per cent. This growth was primarily driven by the successful launch of the second phase of its luxury project, 'Privana West', in New Gurugram, which saw strong demand and was completely sold out, generating Rs 5,600 crore in sales.

"The residential segment is experiencing a structural upcycle, and we are committed to leveraging this positive momentum," DLF stated. 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, during this fiscal year.

DLF reported continued healthy sales momentum and strong growth in collections, contributing to an improved net cash position. The company's rental business also showed steady performance, with DLF Cyber City Developers Ltd (DCCDL) generating a revenue of Rs 1,553 crore, a year-on-year growth of 10 per cent, and a consolidated profit of Rs 470 crore, up 20 per cent from the previous year.

"We remain positive about the rental business and are increasing our capital expenditure commitments to further enhance our rental portfolio and achieve healthy growth," DLF commented.

With a legacy spanning over seven decades, DLF is India's leading real estate developer, having developed more than 178 projects and over 349 million square feet of space. The group boasts 220 million square feet of development potential in both residential and commercial segments, along with an annuity portfolio exceeding 44 million square feet.

DLF's core operations include the development and sale of residential properties (Development Business) and the development and leasing of commercial and retail properties (Annuity Business).

(With PTI inputs)