DLF reports 61% upgrade in net profit

DLF, the country’s largest listed real estate developer, reported a 61% rise in net profit in Q3 FY25 to Rs 1,059 crore as against Rs 657 crore in the same quarter of the previous fiscal. Analysts had projected a profit of Rs 868 crore.

However, the company’s revenue fell short of expectations and remained flat at Rs 1,529 crore in Q3 FY25, slightly higher than Rs 1,521 crore in Q3 FY24. Analysts had projected a revenue of Rs 1,743 crore.

Finance costs for the quarter rose 11.9% to Rs 94 crore as against Rs 84 crore in Q3 FY24.

DLF’s rental arm, DLF Cyber ​​City Developers (DCCDL), reported a 117% year-on-year rise in consolidated profit to Rs 941 crore in Q3 FY25. DCCDL’s revenue during the quarter grew 9% to Rs 1,609 crore. The company said its development business witnessed record new sales bookings of Rs 12,093 crore during the quarter.

Its latest super luxury offering, The Dahlias at DLF 5, Gurugram, witnessed new bookings of Rs 11,816 crore in the opening quarter. “We have rolled out a robust capital expenditure programme to accelerate the build-out of our new products. The developments in Downtown, Chennai and the subsequent phases of Downtown Gurugram total approximately 11 million sq ft.

Our ongoing projects including Atrium Place and 3 Retail Mall in Gurugram are expected to be completed soon and will start leasing in the next fiscal,” the company said in a release.

It added: “We believe our business is well placed to take advantage of this structural upcycle, supported by a significant land bank with high underlying potential, a strong pipeline of new products across both development and rental business, strong balance sheet and consistent cash flow generation.”