Real estate major DLF Ltd. today reported a 122% year-on-year jump in its consolidated profit after tax (PAT) for the quarter ended 30 September. The Gurugram-based realtor’s net profit surged to Rs 1,381.
2 crore during the July-September period, up from Rs 622 crore reported in the corresponding quarter of the previous year. During this period, DLF’s operating revenue grew 47% year-on-year to Rs 1,975 crore, compared to Rs 1,348 crore. This represents a 45% increase over the Rs 1,362 crore posted in the previous quarter.
However, new sales bookings during the quarter fell to Rs 692 crore, reflecting delays in receiving the requisite approvals for its new launches. Approval for DLF’s super-luxury offering, The Dahlias in DLF 5, Gurugram, was received in the early part of the current quarter, the company stated. New sales bookings for the first half of the fiscal year stood at Rs 7,094 crore.
DLF’s net cash position was Rs 2,831 crore at the end of the period, despite a higher dividend payout of Rs 1,238 crore during the September quarter. According to the company, it is on track to meet its guidance for the fiscal year. For the July-September period, the consolidated revenue of DLF Cyber City Developers Limited (DCCDL) stood at Rs 1,653 crore, growing 13% year-on-year, while the consolidated profit for the quarter was Rs 521 crore, registering a growth of 25% compared to the corresponding quarter of the previous year.
The real estate major’s rental business is exper.