DLF Q1 Results | Net profit up 23%, new bookings zoom 214%.
DLF Ltd reported a 22.5% YoY increase in Q1 net profit to ₹644.7 crore, despite a 4.3% dip in revenue from operations.
Real estate giant DLF Ltd reported a 22.5% year-on-year (YoY) increase in net profit, reaching ₹644.7 crore for the first quarter ending June 30, 2024. This compares to a net profit of ₹526.1 crore in the same quarter last year, according to the company's regulatory filing. However, revenue from operations fell 4.3% to ₹1,362.4 crore from ₹1,423.2 crore in the previous fiscal period.
EBITDA saw a significant decline of 42.3%, dropping to ₹228.7 crore this quarter from ₹396.2 crore in the same period last year. The EBITDA margin was 16.8% this quarter, compared to 27.8% in the corresponding quarter of the previous year. EBITDA is calculated as earnings before interest, tax, depreciation, and amortisation.
DLF also reported impressive new sales bookings of ₹6,404 crore, representing a 214% YoY growth. The company generated a robust operating cash flow of ₹1,849 crore, up 133% YoY. Gross margins were slightly lower at 51% compared to 52% in the same period last year. The company noted continued strong sales momentum and growth in collections, leading to an improved net cash position of ₹2,896 crore at the end of the quarter, compared to net debt of ₹57 crore in Q1 FY24.
DLF's rental business maintained steady performance, with Q1 FY25 consolidated revenue for DLF Cyber City Developers Ltd reaching ₹1,553 crore, a 10% YoY increase. The consolidated profit for the quarter was ₹470 crore, marking a 20% YoY growth.
"We remain optimistic about the rental business and are increasing our capital expenditure to further enhance our rental portfolio and drive growth," the company stated.
DLF also announced the launch of the second phase of its luxury project in New Gurugram, Privana West, which saw strong demand and sold out completely, achieving ₹5,600 crore in new sales bookings.
These results were announced after market hours. Shares of DLF closed at ₹812.65, down ₹6.45, or 0.79%, on the BSE.
We hate spam as much as you do
© Hindeez 2024, All Rights Reserved
