DLF Ltd. Reports 23% Increase in Q1 Profit, Records Rs 6,404 Crore in Property Sales

DLF Ltd. reported a 23% increase in consolidated profit for Q1 of the fiscal year, amounting to Rs 645.61 crore. The company achieved record property sales of Rs 6,404 crore due to robust housing demand. It also witnessed significant growth in new sales bookings and rental business performance.

DLF Ltd. reported a 23 per cent increase in its consolidated profit, totalling Rs 645.61 crore for the first quarter of this fiscal year, driven by a robust housing demand.

The company achieved record sales of properties worth Rs 6,404 crore, a significant rise from Rs 527 crore in the year-ago period.

According to the regulatory filing, total income rose to Rs 1,729.82 crore during the April-June period of this fiscal, up from Rs 1,521.71 crore in the corresponding period of the previous year.

The company's significant performance was powered by the second phase of its luxury project in New Gurugram, 'Privana West', which sold out entirely, clocking Rs 5,600 crore.

The residential segment is witnessing a structural upcycle, and DLF is planning a strong launch pipeline of an additional 9 million square feet of new products during the fiscal year, across various cities.

The rental business also continues to perform strongly with revenue of Rs 1,553 crore, reflecting y-o-y growth of 10 per cent, and a consolidated profit of Rs 470 crore, a growth of 20 per cent y-o-y.

DLF has more than seven decades of history in India's real estate sector, with 178 projects and over 349 million square feet developed to date.