[ecis2016.org] The developer reported a 39% Y-o-Y growth in net profit in Q1 FY 2023, at Rs 470 crore
Real estate major DLF Limited has said that it has clocked new sales bookings of Rs 2,040 crore in its residential business, reflecting a Y-o-Y growth of 101%. While announcing its financial results for Q1 FY 2023, the company 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, it added. DLF’s super luxury offering, The Camellia, remained the developer’s preferred project in the segment, garnering sales booking of Rs 352 crore during the quarter, while new product offerings contributed Rs 1,532 crore.
DLF Limited: Financial highlights for Q1 FY 2023
- Consolidated revenue stood at Rs 1,516 crore, reflecting a Y-o-Y increase of 22%.
- Gross margins sustained at 53%.
- EBITDA stood at Rs 488 crore.
- Net profit at Rs 470 crore, reflecting Y-o-Y increase of 39%.
“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 the quarter stood at Rs 2,259 crore, one of the lowest levels. While rising interest rates may pose some challenges, we expect this structural recovery in the residential segment to continue,” a DLF release said.
DLF Cyber City Developers Limited: Financial highlights for Q1 FY 2023
- Rental income grew 20% Y-o-Y, driven by a strong growth in retail revenues.
- Consolidated revenue of Rs 1,260 crore as compared to Rs 1,041 crore last year, reflecting a 21% Y-o-Y growth.
- EBITDA stood at Rs 961 crore, Y-o-Y growth of 18%.
- Net profit at Rs 323 crore, reflecting a Y-o-Y growth of 60%.
Occupiers’ attendance continued to exhibit steady improvement, indicating a return to normalcy in the office segment. With sustained collections and steady improvement in occupancy, the office segment is well poised for growth. Organised retail is expected to gain further share with strong preference for quality assets at established locations, the release said, adding that the developer hoped to double its retail presence in the next few years.
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