DLF gains 1% despite posting 15% yoy lower Q3 PAT at Rs381cr

1 Feb 2022 , 10:05 AM

DLF Limited on Monday reported 15% yoy lower profit at Rs381cr in the December 31 ended quarter of FY22 against Rs449cr in Q3FY21. The company’s consolidated total income however increased to Rs1,687cr from Rs1,668cr yoy. EBITDA stood at Rs659cr, reflecting a yoy increase of 5%. Collections at Rs1,281cr.

Record new sales bookings of Rs2,018cr in the quarter; reflecting a yoy growth of 97%. Sales booking of Rs4,544cr in 9MFY22.

At around 10.08 AM, DLF Ltd was trading at Rs395.30 per share up by Rs4.15 or 1.06% from its previous closing of Rs391.15 per share on the BSE.

“Our business continues to deliver strong performance across all parameters during the quarter. We remain confident of delivering our business goals,” the company said in a filing on Monday.

The housing segment continues to exhibit sustained momentum leading to strong business performance in the residential segment. The company clocked record New Sales in the quarter amounting to Rs2,018cr, reflecting a yoy growth of 97%. Cumulative sales bookings for a nine-month period stood at Rs4,544cr, demonstrating a strong rebound in his segment.

It launched, ONE Midtown — a luxury group housing project in the heart of the capital, during the quarter. The launch received overwhelming response and phase-I of the inventory was completely absorbed.

“Our super luxury segment – “The Camellias” continues to attract robust demand despite the price hike. New sales of Rs580cr were recorded in the quarter, vindicating a strong demand for high quality products at established locations,” company aid.

Surplus cash generation of Rs764cre during the quarter resulted in a marked reduction in our Net Debt which stood at Rs3,220cr at the end of the quarter. Strong business fundamentals backed by a healthy balance sheet resulted in another credit rating upgrade for the Company. ICRA and CRISIL have both, revised the rating upwards to ICRA AA-/Stable & CRISIL AA-/Stable.

Financial Highlights for Q3FY22 — DLF Cyber City Developers Limited

• Consolidated Revenue of Rs1,176, a yoy growth of 5%
• EBITDA stood at Rs913cr, reflecting a yoy growth of 2%
• Net Profit at Rs282cr, reflecting a yoy growth of 13%

The offices business continues to be on recovery trajectory, however, the Covid resurgence might push out the recovery temporarily.