DLF’s fourth-quarter net profit increases by 40%
Real Estate

DLF’s fourth-quarter net profit increases by 40%

DLF, a real estate builder, announced that its net profit for the fourth quarter has increased by 40 per cent year-on-year to Rs 5.69 billion, driven by strong demand in the housing sector. The company reported that new sales bookings in the quarter reached Rs 84.58 billion, showing a 210 per cent year-on-year growth. The full year FY23 new sales bookings amounted to a record-breaking Rs 150 billion, double the amount from the previous year. DLF's consolidated revenue for the quarter was Rs 15 billion and for the financial year was Rs 60.1 billion. The residential business reported new sales bookings of Rs 72 billion at the end of FY23, representing a 136 per cent year-on-year growth.

According to DLF, their luxury offering, The Arbour at Sector 63 in Gurgaon, had already sold out during the pre-formal launch phase, with new sales bookings of over Rs 80 billion, setting a new benchmark in residential sales. DLF remains committed to scaling up its new offerings due to the residential upcycle and the rising demand for the luxury segment.

The company stated that its strong business performance had led to a healthy surplus cash generation, significantly strengthening the balance sheet. DLF's net debt had reduced to Rs 7 billion, one of the lowest levels. Additionally, their credit rating was upgraded to CRISIL AA/Stable outlook and ICRA AA/Stable outlook.

DLF's office portfolio remains stable, while the retail business is experiencing strong demand momentum. The consolidated revenue of DLF Cyber City Developers for FY23 grew to Rs 54.19 billion, a 19 per cent year-on-year growth, and the consolidated profit for the year was Rs 14.29 billion, a year-on-year growth of 43 per cent.

DLF noted that the recovery across the office segment is gradual due to continued global macro headwinds, but India would continue to be the preferred destination for global captives and large occupiers. The company is experiencing healthy demand for newer developments, indicating a clear shift by large occupiers towards quality workplaces.

DLF's retail business continues to operate at high occupancy levels, with footfall levels reaching the pre-pandemic level, and consumption trends showing buoyancy. DLF expects sustained momentum for quality retail destinations and plans to continue its expansion in this segment across multiple markets. Planning for its upcoming retail destination, Mall of India in Gurgaon, is in advanced stages.

Also Read
NIIF appoints Rajiv Dhar as CEO & MD on interim basis
Copenhagen Airport Unveils Ambitious Expansion Plan


DLF, a real estate builder, announced that its net profit for the fourth quarter has increased by 40 per cent year-on-year to Rs 5.69 billion, driven by strong demand in the housing sector. The company reported that new sales bookings in the quarter reached Rs 84.58 billion, showing a 210 per cent year-on-year growth. The full year FY23 new sales bookings amounted to a record-breaking Rs 150 billion, double the amount from the previous year. DLF's consolidated revenue for the quarter was Rs 15 billion and for the financial year was Rs 60.1 billion. The residential business reported new sales bookings of Rs 72 billion at the end of FY23, representing a 136 per cent year-on-year growth. According to DLF, their luxury offering, The Arbour at Sector 63 in Gurgaon, had already sold out during the pre-formal launch phase, with new sales bookings of over Rs 80 billion, setting a new benchmark in residential sales. DLF remains committed to scaling up its new offerings due to the residential upcycle and the rising demand for the luxury segment. The company stated that its strong business performance had led to a healthy surplus cash generation, significantly strengthening the balance sheet. DLF's net debt had reduced to Rs 7 billion, one of the lowest levels. Additionally, their credit rating was upgraded to CRISIL AA/Stable outlook and ICRA AA/Stable outlook. DLF's office portfolio remains stable, while the retail business is experiencing strong demand momentum. The consolidated revenue of DLF Cyber City Developers for FY23 grew to Rs 54.19 billion, a 19 per cent year-on-year growth, and the consolidated profit for the year was Rs 14.29 billion, a year-on-year growth of 43 per cent. DLF noted that the recovery across the office segment is gradual due to continued global macro headwinds, but India would continue to be the preferred destination for global captives and large occupiers. The company is experiencing healthy demand for newer developments, indicating a clear shift by large occupiers towards quality workplaces. DLF's retail business continues to operate at high occupancy levels, with footfall levels reaching the pre-pandemic level, and consumption trends showing buoyancy. DLF expects sustained momentum for quality retail destinations and plans to continue its expansion in this segment across multiple markets. Planning for its upcoming retail destination, Mall of India in Gurgaon, is in advanced stages. Also Read NIIF appoints Rajiv Dhar as CEO & MD on interim basisCopenhagen Airport Unveils Ambitious Expansion Plan

Next Story
Infrastructure Energy

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Next Story
Real Estate

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world..

Next Story
Real Estate

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App