DLF Q3 profit up 11% at Rs 466 cr

Realty firm DLF has reported consolidated profit after tax at Rs 466 crore, up 11% as compared to Rs 418 crore in previous quarter.

Consolidated revenue went up by 3% at Rs 2,594 crore from Rs 2,477 crore on quarter-on-quarter basis.
 
In a press conference, management said:

-2.48 million sq ft sales booked in the quarter; YTD FY11 sales booked @ 6.5 msf
Alert : DLF had earlier guided sales of 12 MSF In FY11
-Realisation from divestment of non core assets at Rs 403 crore
-Delays in approvals delayed launches in Q3 with only 1 new launch
-Mandatory debt repayment in FY11 Rs 2890 crore
-DLF has already paid Rs 2680 crore
-Company has to repay Rs 210 crore by March 2011
-Company has to repay Rs 2700 crore by FY12
-Current net debt at Rs 20700 crore from Rs 19913 cr
-Average cost of debt at 10.8% in December 2010 versus 10.5% September 2010
-Current net debt/equity ratio: 0.79
-Debt reduction slowed down due to land investments
-Debt reduction slowed down due to lower execution pace
-Debt reduction slowed down due to slow govt approvals
-8 msf of new launches planned