DLF's net profit jumps 30% to Rs. 623cr in Q2
What's the story
DLF Ltd, the leading real estate company in India, experienced a 30.6% growth in consolidated net profit during the second quarter of the current fiscal year. The firm's net profit climbed to Rs. 622.8 crore, compared to Rs. 477.04 crore in the same period last year. DLF's total revenue rose to Rs. 1,476.42 crore from Rs. 1,360.50 crore in the corresponding quarter of the previous year. The real estate giant's sales bookings reached Rs. 2,228 crore in the September quarter.
Details
DLF Home Developers enters Mumbai market with Trident JV
A subsidiary of DLF Ltd, DLF Home Developers Ltd, has ventured into Mumbai's real estate market through a joint venture (JV) agreement with Trident. DLF has successfully developed over 153 real estate projects spanning 330 million square feet and possesses a development potential of 215 million square feet across residential and commercial sectors. The group also takes pride in its rent-yielding commercial portfolio of more than four crore square feet.
What Next?
DLF Q2 performance exceeds analysts' expectations
DLF's stock closed at Rs. 554.45 apiece on the National Stock Exchange (NSE), a 3.4% increase from the previous close. The company's shares have seen an approximate 37% growth year-to-date. The real estate titan's net profit exceeded analysts' expectations, which had forecasted a net profit of Rs. 563 crore. DLF's operational revenue during the July-September quarter amounted to Rs. 1,347.68 crore, up from Rs. 1,302.34 crore a year earlier.