DLF Ltd Q3 net profit rises 35% to `515 cr, new sales bookings up 24%
DLF Limited, India’s leading real estate company announced its Q3FY23 results on Wednesday. Strong business momentum exhibited across all parameters.
For quarter ending in December FY23 – DLF Limited’ consolidated revenue stood at Rs 1,560 crore, while the company reported its gross margins at 59 per cent.
Its EBITDA stood at Rs 542 crore and the firm reported its net profit at Rs 515 crore, reflecting Y-o-Y growth of 35 per cent.
DLF Limited’s business delivered a strong performance and clocked one of the highest quarterly new sales bookings of Rs 2,507 crore, reflecting a Y-o-Y growth of 24 per cent. Cumulative new sales for 9 months of FY23 stand at Rs 6,599 crore, reflecting a Y-o-Y growth of 45 per cent.
Company’s luxury offering – The Grove at DLF5, Gurugram, stands completely sold-out reaffirming demand for quality offerings at established locations. Sales bookings during the quarter for this product stood at Rs 1,570 crore. The second phase of DLF’s recently launched product-The Valley Gardens in Panchkula, echoed customer confidence towards our product offerings in that geography, clocking in sales bookings of Rs 540 crore during the quarter.
The company remains enthusiastic about the housing industry’s intrinsic growth potential which continues to be supported by a resilient economy. The firms’ focus remains on creating customer-centric products that provide a distinctive living experience with best-in-class amenities across our established ecosystems.
The firm continues to work towards further deleveraging and consequently our Net Debt decreased to Rs 2,091 crore at the end of the quarter.
DLF Cyber City Developers Limited’s rental income grew to Rs 1,003 crore, Y-o-Y growth of 15 per cent, while it reported a consolidated revenue of Rs 1,363 crore as compared to Rs 1,176 crore last year, reflecting a 16 per cent Y-o-Y growth.
Comapny’s EBITDA stood at Rs 1,061 crore, Y-o-Y growth of 16 per cent, while it reported a net profit of Rs 358 crore, reflecting a Y-o-Y growth of 27 per cent.
Occupiers’ attendance across the portfolio continues to inch upwards with gradual recovery across the office segment. While global headwinds continue to persist leading to a challenging environment, the company expects demand for quality office assets at established locations should continue to garner interest of large