Delhi NCR-based listed real estate developer DLF Ltd on January 24 reported a 62 percent YoY jump in its consolidated net profit at Rs 1055 crore for the quarter ended December 31, 2024. The company had posted a net profit of Rs 648 crore in the year-ago period, the company said in a regulatory filing on January 24.
India's largest realty firm DLF's consolidated revenue surged around 6 percent YoY to Rs 1737.41 crore in the October-December 2024 quarter as compared to Rs 1643.51 crore in Q3FY24.
"The company received record new sales bookings of Rs 12,093 crore during the October-December 2024 quarter. Our latest super luxury offering, The Dahlias in DLF 5, Gurugram, performed exceptionally well, garnering Rs 11,816 crore of new bookings in the opening quarter," the company said in a statement.
DLF also surpassed its annual guidance of Rs 17,000 crore. New sales bookings for the first nine months of the fiscal year stood at Rs 19,187 crore, the realty major said.
The operating cash surplus generated during the quarter was Rs 1,850 crore, consequently the net cash position stood at Rs 4,534 crore at the end of the period, it said.
Total expenses of the company rose by around 11.4 percent YoY to Rs 1261.36 crore in Q3FY25 from Rs 1132 crore in Q3FY24, the company said.
The company's gross margins came in at 52 percent while the gross margins in the previous quarter were at 45 percent.
The company said that its rental business continued steady performance during the period.
Q3FY25 consolidated revenue of DLF Cyber City Developers Limited (DCCDL) stood at Rs 1,609 crore, reflecting YoY growth of 9 percent and the consolidated profit for the quarter for DCCDL stood at Rs 941 crore, registering a healthy growth of 117 percent as compared to Q3FY24.
"Development of subsequent phases of Downtown Chennai and Downtown Gurugram totaling around 11 million square feet remains on track. Our ongoing projects, including Atrium Place in Gurugram and 3 retail malls, are expected to be completed soon with rents commencing in the next fiscal," the company said.
In Q2 FY25, India's largest realty firm DLF Ltd had reported a 121 percent YoY jump in its consolidated net profit at Rs 1,387 crore.
On January 24, DLF's shares on BSE closed 2.8 percent lower at Rs 695.05 apiece.
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