DLF Q1 profit surges 56% at ₹172.77 crore

Posted on by KNBT

Shares or DLF Ltd fell 2.02% to close at ₹196.60, while the BSE benchmark index Sensex lost 0.41% to close at 37869.23 points.

Shares or DLF Ltd fell 2.02% to close at ₹196.60, while the BSE benchmark index Sensex lost 0.41% to close at 37869.23 points.

New Delhi: Real estate firm DLF on Friday reported 56% increase in its consolidated net profit at ₹172.77 crore for the April-June period of the current fiscal year. Its net profit stood at ₹110.70 crore in the same period a year ago, the company said in a regulatory filing.

DLF’s total income, however, declined to ₹1,657.67 crore during the first quarter of this fiscal from ₹2,211.24 crore in the corresponding period of the previous fiscal year.

DLF’s sales booking during the June quarter stood at ₹600 crore and the company remains on track to achieve fresh sales booking of ₹2,000–₹2,250 crore in the current fiscal year, the company said.

DLF’s net profit increased despite drop in total income as the company earned ₹241.50 crore as its share of profit in associates and joint ventures.

The company has a joint venture with Singapore’s sovereign wealth firm GIC for commercial real estate business.

In the joint venture DLF Cyber City Developers Ltd (DCCDL), DLF owns 66.67% stake, while GIC holds the remaining stake. GIC bought stake in DCCDL for ₹9,000 crore in December last year.

Shares or DLF Ltd fell 2.02% to close at ₹196.60, while the BSE benchmark index Sensex lost 0.41% to close at 37869.23 points. The Realty Index dropped 0.15% to settle at 2104.87 points.

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