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Contents

1 DLF Q1 results 2024

DLF Q1 results 2024

DLF Limited Reports Strong Q1 Results with 23% YoY Profit Increase

India’s largest realty firm, DLF Limited, reported a significant 23% year-on-year (YoY) increase in net profit, reaching Rs 646 crore for the quarter ended June 30, 2024. This marks a notable improvement from the Rs 526.11 crore net profit recorded in the same period last year.

Impressive Sales Bookings and Revenue Growth

DLF achieved new sales bookings of Rs 6,404 crore, reflecting a remarkable YoY growth of 214%. Additionally, the company reported healthy operating cash flow of Rs 1,849 crore, up by 133% YoY. The company’s consolidated revenue for the April-June 2024 quarter surged nearly 14% YoY to Rs 1,729.82 crore, compared to Rs 1,521 crore in Q1 FY24.

Key Highlights

Net Profit: Rs 646 crore, up 23% YoY
Sales Bookings: Rs 6,404 crore, up 214% YoY
Operating Cash Flow: Rs 1,849 crore, up 133% YoY
Revenue: Rs 1,729.82 crore, up 14% YoY

Development Business Performance

“Our development business recorded another quarter of strong sales booking of Rs 6,404 crore, leading to a record first-quarter sales booking. We launched the second phase of our luxury project in New Gurugram, Privana West, which witnessed strong demand momentum and was entirely sold-out, clocking Rs 5,600 crore of new sales bookings,” stated the company.

Upcoming Launches

DLF has a robust launch pipeline, planning to introduce an additional 9 million square feet of new products during the fiscal year across various segments and geographies, including Gurugram, Mumbai, Goa, and the Chandigarh Tri-city. The company is also set to launch its luxury villa project in Goa in Q2 FY25.

Financial Health and Growth

DLF continues to witness healthy sales momentum and strong growth in collections, leading to further improvement in its net cash position. As of the end of the period, the net cash position stood at Rs 2,896 crore, compared to a net debt of Rs 57 crore in Q1 FY24. The company’s gross margins were reported at 51%, slightly down from 52% in the previous period.

Rental Business Steady Growth

DLF’s rental business continued its steady performance during the period. In Q1 FY25, the consolidated revenue of DLF Cyber City Developers Limited (DCCDL) stood at Rs 1,553 crore, reflecting a YoY growth of 10%. The consolidated profit for the quarter was Rs 470 crore, registering a YoY growth of 20%.

Rental Business Highlights

Revenue: Rs 1,553 crore, up 10% YoY
Profit: Rs 470 crore, up 20% YoY

DLF remains positive about the rental business and is accelerating its capital expenditure commitments to further strengthen its rental portfolio and deliver healthy growth.

Previous Financial Performance

Earlier this year, DLF reported a 61.5% jump in net profit to Rs 921 crore for the quarter ended March 31, 2024, against Rs 570 crore in the year-ago period. For the entire financial year 2023-24, DLF’s net profit was Rs 2,733 crore, reflecting a YoY growth of 33%. Revenue surged nearly 47% YoY to Rs 2,135 crore in the January-March quarter, compared to Rs 1,456 crore in Q4 FY23. DLF’s consolidated revenue for the full financial year stood at Rs 6,958 crore. Its EBITDA jumped nearly 90% to Rs 754.4 crore in Q4 FY 2023-24 from Rs 398.3 crore a year ago.

Conclusion

DLF Limited continues to demonstrate strong financial performance and strategic growth, underpinned by impressive sales bookings and robust revenue growth. With a positive outlook for both its development and rental businesses, DLF is well-positioned for continued success in the real estate sector.

FAQS:

1.What was DLF Limited’s net profit for the quarter ended June 30, 2024?

A.DLF Limited reported a net profit of Rs 646 crore for the quarter ended June 30, 2024, a 23% increase year-on-year.

2.How much did DLF’s sales bookings grow in the same period?

A.DLF’s sales bookings grew by 214% year-on-year, reaching Rs 6,404 crore.

3.What was the company’s operating cash flow for the April-June 2024 quarter?

A.DLF’s operating cash flow for the April-June 2024 quarter was Rs 1,849 crore, a 133% year-on-year increase.

4.How much did DLF’s consolidated revenue increase year-on-year in the April-June 2024 quarter?

A.DLF’s consolidated revenue increased by nearly 14% year-on-year to Rs 1,729.82 crore.

5.What new project did DLF launch in New Gurugram, and how did it perform?

A.DLF launched the second phase of its luxury project, Privana West, in New Gurugram, which was entirely sold out, clocking Rs 5,600 crore in new sales bookings.

6.What future projects does DLF plan to launch during the fiscal year?

A.DLF plans to launch 9 million square feet of new products across Gurugram, Mumbai, Goa, and the Chandigarh Tri-city, including a luxury villa project in Goa in Q2 FY25.

7.What was DLF’s net cash position at the end of the period compared to the previous period?

A.DLF’s net cash position stood at Rs 2,896 crore, a significant improvement from a net debt of Rs 57 crore in Q1 FY24.

8.How did DLF’s rental business perform in Q1 FY25?

A.The rental business saw steady growth with consolidated revenue of Rs 1,553 crore, up 10% year-on-year, and a profit of Rs 470 crore, up 20% year-on-year.

9.What were DLF’s financial highlights for the quarter ended March 31, 2024?

A.DLF reported a net profit of Rs 921 crore, a 61.5% year-on-year increase, and revenue of Rs 2,135 crore, a nearly 47% year-on-year increase for the quarter ended March 31, 2024.