New Delhi: DLF, a leading real estate company, saw a 66 per cent rise in sales bookings to Rs 7,094 crore in the first half of the current fiscal year due to high demand for housing. In the previous year, the company's sales bookings were at Rs 4,268 crore. Due to strong performance in the first quarter, the company managed to increase sales bookings during the April-September period of this fiscal year. DLF experienced a sales bookings increase of over three times to approximately Rs 6,400 crore in the first quarter of this fiscal, compared to Rs 2,040 crore in the previous year.
Nevertheless, sales bookings in the second quarter of 2024-25 dropped by 69% to Rs 692 crore from Rs 2,228 crore in the previous year. During an investor presentation, DLF noted that there has been a decrease in sales due to delays in obtaining necessary approvals for new product releases. The company has obtained authorization for its high-end housing project 'The Dahlias' in DLF 5, Gurugram during this quarter. DLF stated that they are still on course to achieve their projections for the entire fiscal year. The company plans to offload properties totaling Rs 17,000 crore in the entire fiscal year.
DLF highlighted that there is a positive outlook for the residential sector, and its housing business is maintaining solid performance. DLF holds the top position as the biggest real estate company in the country in terms of market capitalisation. The company's main operations involve developing and selling residential properties (Development Business) as well as developing and renting commercial and retail properties (annuity business). DLF's consolidated net profit for the second quarter of this fiscal increased by over two times to Rs 1,381.08 crore on higher revenue, as reported on Friday. The net profit was Rs 622.78 crore in the same period last year.
DLF Reports 48 pc Revenue Surge in Q2, Achieving Net Profit of Rs 2,026.69 Crore in First Half of FY 2024-25
Total revenue increased by 48 pc to Rs 2,180.83 crore in the July-September quarter of 2024-25, up from Rs 1,476.42 crore in the same quarter of the previous year. In the initial half of this financial year, the company saw a significant rise in its net profit to Rs 2,026.69 crore from Rs 1,149.78 crore in the corresponding period last year. Its overall revenue increased to Rs 3,910.65 crore in the April-September period of this fiscal year from Rs 2,998.13 crore in the same period of the previous financial year. DLF has completed over 178 real estate projects and has developed an area exceeding 349 million square feet. There is a development potential of 220 million square feet in both residential and commercial sectors. The team manages a portfolio of annuities totaling more than 44 million square feet.
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