DLF records Rs 337.17 crore net profit in Q1 FY22

28 Jul 2021 CW Team

Real Estate major DLF Ltd (Delhi Land & Finance), recorded a net profit of Rs 337.17 crore in the first quarter of 2021.

The firm had reported a net loss of Rs 71.52 crore at the same time the previous year.

DLF told the media that its overall income increased to Rs 1,242.27 crore in the April-June quarter of FY 2021-22 from 646.98 crore in the previous year at the same time. The company also revealed a profit of Rs 2 per share for the last FY.

According to the firm, demand in the residential sector is developing. Since the pandemic, the residential housing demand has grown.

DLF's shares closed nearly flat at Rs 334 each on the Bombay Stock Exchange (BSE). Its market capitalisation reached Rs 82,675 crore. In terms of market capitalisation, DLF is India's largest real estate firm.

DLF said with the strong outlook and fundamental drivers backing the residential segment, it is continuing to bring new product offerings across segments and locations.

Founded in 1946, DLF Limited is a Delhi-based commercial and residential real estate developer, which has expanded its presence all across the country. The company is also planning to enter Mumbai’s real estate market with a residential project, while it is finalising its plans to monetise lands in Nagpur and Pune.

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