DLF Q1 PAT rises 40% YoY to Rs 469 cr

30 Jul 2022 , 11:28 AM

Profit before tax stood at Rs 345.76 crore in the first quarter, up by 21.2% from Rs 285.33 crore in the same period last year. The companys total expenditure rose 22.31% year on year to Rs 1,170.52 crore in the quarter ended 30 June 2022. EBITDA declined 2% YoY to Rs 488 crore, due to lower other income, higher fixed cost (largely driven by organization scaling up & salary increments) and higher variable expenses driven by business scale up costs. EBIDTA margin fell to 32% in Q1 FY23 as against 40% in Q1 FY22. DLF said that residential demand continued to exhibit sustained momentum. The high demand for luxury homes has been a key trend that is expected to continue. The residential business continued its steady performance and clocked new sales bookings of Rs 2,040 crore, reflecting a YoY growth of 101%. DLF in its statement highlighted: The Camellias, our super luxury offering, continues to remain the preferred destination across the super luxury segment and delivered a healthy sales booking of Rs 352 crore during the quarter. Our new product offerings continue to evince strong interest from the markets and made a healthy contribution of Rs 1,532 crore. While rising interest rates may pose some challenges, we expect this structural recovery in the residential segment to continue.? The company added, We continue to remain committed towards surplus cash generation from our operations and it continues to be a key focus area. We generated surplus cash of Rs 421 crore during the quarter which led to further deleveraging and consequently our net debt at the end of quarter stood at Rs 2,259 crore, one of the lowest levels. DLF Cyber City Developers, the rental arm of the company, witnessed steady performance across office portfolio. Retail business continued its growth path and delivered a healthy growth. During Q1 FY23, the rental income grew 20% YoY; driven by a strong growth in retail revenues. Consolidated revenue stood at Rs 1,260 crore as compared to Rs 1,041 crore last year, reflecting a 21% YoY growth. EBITDA stood at Rs 961 crore, YoY growth of 18%. Net profit stood at Rs 323 crore, reflecting a YoY growth of 60%. DLF is primarily engaged in the business of development and sale of residential properties (the development business) and the development and leasing of commercial and retail properties (the annuity business). Shares of DLF closed 1.03% higher at Rs 386 on Friday. Powered by Capital Market – Live News