DLF's Landmark Profit Surge Amidst Decline in Fresh Sales Bookings

Realty giant DLF posted a substantial rise in net profit to Rs 1,381.08 crore in Q2, despite a decline in sales bookings due to delayed approvals. Total income grew significantly. The outlook for DLF's residential segment remains positive, with ongoing developments and a robust land bank.

Real estate giant DLF reported a remarkable increase in its consolidated net profit to Rs 1,381.08 crore during the second quarter, marking a more than two-fold rise due to increased income. However, sales bookings significantly declined by 69%, dropping to Rs 692 crore, attributed to delays in receiving approvals for new projects.

The company's total income surged by 48%, reaching Rs 2,180.83 crore in the quarter from Rs 1,476.42 crore the previous year. This upward trend in profits is evident in the first half of the fiscal year, as DLF's net profit soared to Rs 2,026.69 crore from Rs 1,149.78 crore the previous year.

DLF expressed optimism about the strong outlook for its residential operations, citing consistent performance in its housing sector. Meanwhile, the rental arm, DLF Cyber City Developers Limited, showed marked growth with revenue reaching Rs 1,653 crore, reflecting a 13% year-on-year growth, alongside a 25% increase in consolidated profit, underlining the strength of its rental business.

(With inputs from agencies.)