NEW DELHI: DLF has reported a growth of 61.49 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 919.82 crore in Q4 FY24 as against Rs 569.60 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 2,316.70 crore in Q4 FY24, a growth of 47.03 per cent from Rs 1,575.70 crore it recorded in the similar quarter last year.
“Development business recorded sales booking of Rs 14,778 crore during the year. We plan to launch more than 11 million sq ft of new products during FY25 targeting various markets including Gurugram, Mumbai, Goa and Chandigarh Tri-city. The estimated sales potential of these launches is approximately Rs 36,000 crore,” said the company in a media release.
The board of directors recommended dividend of Rs 5 each per equity share (250%) of face value of Rs 2 each for FY 2023-24.
Subsequent to the quarter, Ashok Kumar Tyagi has been appointed as chief financial officer (CFO) of the company in addition to his existing position as managing director.
During the quarter, DLF Home Developers (DIDL), a wholly-owned material subsidiary, has allotted 60,000 – 8.50% senior, secured, rated, listed, redeemable, guaranteed, Rupee denominated non-convertible debentures (NCDs) of the face value of Rs 100,000 each at par, amounting to Rs 600 crore by way of private placement.
Subsequent to the quarter, National Company Law Tribunal (NCLT) – Chandigarh bench has approved the scheme of amalgamation between Alanknt Estates, DLF Estate Developers, Kirtimaan Builders, Tiberias Developers, Ujagar Estates with DLF Utilities.
“We remain focused on cash flow generation and consequently generated a record cash flow from operations of Rs 4,385 crore during the year. We acquired a strategic opportunity in Sector-61, Gurugram offering a sizeable potential of approximately 7.5 million sq ft and an estimated sales potential of more than Rs 20,000 crore,” said the company in a media release.
Consolidated revenue of DLF Cyber City Developers (DCCDL) stood at Rs 5,903 crore in FY24, reflecting year-on-year growth of 9%; consolidated profit for the quarter stood at Rs 1,690 crore, a year-on-year growth of 18%. Cash flow from operations stood at Rs 2,726 crore for the fiscal.
The company’s retail business exhibited 18% year-on-year growth during the period.
