India's largest realty firm DLF Ltd on Tuesday reported 24 percent increase in its consolidated net profit at Rs 163.95 crore for the quarter ended December on higher sales. Its net profit stood at Rs 131.79 crore in the year-ago period, DLF said in a regulatory filing. Income from operations rose by 44 percent to Rs 2,827.66 crore during the third quarter of this fiscal from Rs 1,956.72 crore in the corresponding period of the previous year.
Other income increased to Rs 153 crore during October- December quarter of 2015-16 fiscal from Rs 123 crore in the year-ago period. Ahead of the announcement of financial results, shares of the company fell by 3.51 percent to close at Rs 93.35 apiece on the BSE. DLF has a land bank of nearly 300 million sq ft of which about 50 million sq ft is under construction.
Recently, DLF received Rs 1,992 crore from Singapore's sovereign wealth fund GIC, thereby completing the deal to sell 50 percent stake each in two upcoming projects in the national capital. The company in September last year had announced the stake sale in the two projects to GIC.
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