DLF Q3 net slips, company may miss full year sales target

Realty major DLF may miss its targeted sales of residential properties in FY11, says a report in The Economic Times. "This could impact its projected annual revenue," the report added. A strong YoY growth in the volume of residential housing sales helped DLF post a 22% increase in revenues for Q3FY11.

February 04, 2011 / 19:23 IST

26 Aug, 2025 12:21

Volume

Todays L/H

DLF, India's largest property developer, reported a consolidated net profit of Rs 466 crore for the quarter ended December 2010, compared to Rs 468 crore during the same quarter of the previous year. Consolidated quarterly revenues rose 21% year-on-year, to Rs 2,594 crore. In its press release, the company said it was cautious on near term outlook as rising interest rates could dampen demand.

A report in The Economic Times said the company may miss its sales target of residential properties for the full year, as it needs to sell at least 5.5 million square feet of residential apartments in this quarter alone. The company plans to make an average quarterly investment of Rs 300-400 crore over the next couple of quarters to acquire land in New Gurgaon and Chandigarh to consolidate its land holding, The Economic Times report said.

Source: The Economic Times

first published: Feb 4, 2011 01:07 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347