NEW DELHI: DLF has reported a growth of 26.60 per cent in its net consolidated profit during the quarter ended December 30, 2023. Its profit after tax stood at Rs 655.71 crore in Q3 FY24 as against Rs 517.94 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 1,643.51 crore in Q3 FY24, a growth of 5.38 per cent from Rs 1,559.66 crore it recorded in the similar quarter last year.
During the quarter, the board of directors of the company have approved acquisition of shareholding of three companies from its existing individual shareholders. These acquired entities are engaged in the business of real estate development owning land parcels alongwith other assets and liabilities with whom the company has entered into development agreements and paid them performance deposits/loans and advances with the right to acquire full rights of the land procured by these companies. This has resulted in making the acquired entities and their six affiliates, subsidiary companies of the company: Prewitt Builders & Constructions, Berit Builders & Developers, Adoncia Builders & Developers, Amandla Builders & Developers, Murdock Builders & Developers and Manini Real Estates
The board have also inter-alia approved re-appointment of Priya Paul as an independent director for the second term of five consecutive years with effect from April 1, 2024.
Vivek Anand resigned as the group chief financial officer (CFO) of the company, however he will continue to be with the group till 29 February 2024, it said in the regulatory filing.
The company recorded quarterly sales booking of Rs 9,047 crore during the quarter. Its net cash position stood at Rs 1,246 crore at the end of the quarter. New sales bookings for the nine-month period stood at Rs 13,316 crore.
Q3 FY24 consolidated revenue of DLF Cyber City Developers (DCCDL) stood at Rs 1,476 crore, reflecting year-on-year growth of 8%; consolidated profit for the quarter stood at Rs 434 crore, a year-on-year growth of 21%.
