DLF Ltd on Wednesday, January 24, posted a 26.6% increase in consolidated net profit to ₹655.7 crore in the December quarter on higher income and fewer expenses. Its net profit stood at ₹517.9 crore in the year-ago period. The real estate major reported a 57% jump in its standalone net profit at ₹463.6 crore in the third quarter of this fiscal year.
Total consolidated income rose to ₹1,643.51 crore in the October-December quarter of the 2023-24 fiscal from ₹1,559.66 crore in the corresponding period of the previous year, according to a regulatory filing.
#3QWithCNBCTV18 | DLF reports #Q3 earnings-Net Profit up 26.6% at ₹655.7 cr vs ₹517.9 cr (YoY)-Revenue up 1.8% at ₹1,521.3 cr vs ₹1,494.8 cr (YoY)-EBITDA up 7.1% at ₹511 cr vs ₹477.2 cr (YoY)-Margin at 33.6% vs 31.9% (YoY) pic.twitter.com/9cu9OBFHz4
— CNBC-TV18 (@CNBCTV18Live) January 24, 2024
DLF's total expenses declined to ₹1,131.97 crore in the third quarter of this fiscal year from ₹1,151.62 crore in the year-ago period.
The DLF board also approved the sale of its office building, DLF Centre, in the national capital to group firm DLF Cyber City Developers Ltd (DCCDL) for ₹825 crore.
"In line with the company's stated intent and strategy to consolidate the rental business, the board has approved the sale of one of the company's assets, namely 'DLF Centre', a commercial building in the Central Business District of New Delhi, to DLF Cyber City Developers Ltd, a material subsidiary of the company, of an aggregate consideration of ₹825 crores," the company said.
In a recent interaction with CNBC-TV18, DLF said that it has met its bookings guidance for the financial year 2024 after the sale of its most recent project launch.
DLF sold apartments worth ₹7,200 crore in its latest project - DLF Privana South in Gurugram. Located in Gurugram's Sector 76 and 77, the project was sold out within 72 hours, the company said.
DLF share price settled at ₹748 apiece on NSE, up 1.18%. It has surged 112% in the last one year.
First Published: Jan 24, 2024 4:53 PM IST
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