DLF’s Q1 net profit jumps 23% y-o-y to ₹644.70 Crore

26 Jul 2024 , 11:01 AM

On Thursday (July 25), DLF Ltd reported a 22.5% YoY increase in net profit of ₹644.7 Crore for the first quarter ended June 30, 2024.

In the quarter, DLF reported a net profit of ₹526.1 Crore, according to a regulatory filing. The company’s revenue from operations decreased by 4.3% to ₹1,362.4 Crore, compared to ₹1,423.2 Crore the previous fiscal year.

In the first quarter of this fiscal, EBITDA decreased by 42.3% to ₹228.7 Crore from ₹396.2 Crore the previous year. The EBITDA margin was 16.8% in the reporting quarter, compared to 27.8% in the same period last fiscal year.

DLF saw a 214% year-on-year increase in new sales bookings to ₹6,404 Crore. The company achieved a solid operating cash flow of ₹1,849 Crore, which increased by 133% year-on-year.

Gross margins were 51%, slightly lower than 52% in the preceding period. The company reported significant sales and collections, resulting in a net cash position of ₹2,896 Crore after the period, compared to ₹57 Crore in Q1 FY24.

DLF’s rental business maintained its consistent performance throughout the time. DLF Cyber City Developers Ltd’s Q1FY25 consolidated revenue was ₹1,553 Crore, up 10% year on year. The quarter’s consolidated earnings were ₹470 Crore, up 20% year on year.

We continue to have a favourable perspective on the rental industry and are increasing our capital expenditures to strengthen our rental portfolio and drive robust growth,” it stated.

The second phase of our premium property in New Gurugram-Privana West was completely sold out, with new sales bookings totalling ₹5,600 Crore, according to the realty major.

At around 10.58 AM, DLF was trading 2.85% higher at ₹834.85, against the previous close of ₹811.70 on NSE. The counter touched an intraday high and low of ₹843.65, and ₹814.35, respectively.

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