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DLF on Friday reported a consolidated web revenue of Rs 481 crore throughout the January-March quarter in opposition to a web lack of Rs 1,865 crore within the year-ago interval as housing gross sales bounced again. Complete earnings throughout the interval was up marginally at Rs 1,907 crore.
On the efficiency, DLF mentioned, “Demand in residential enterprise exhibited a robust comeback within the fiscal. New gross sales bookings for the fiscal stood at Rs 3,084 crore, reflecting a y-o-y progress of 24%. Our new product launches of impartial flooring in DLF Metropolis and New Gurgaon witnessed wholesome absorption vindicating demand for high quality merchandise in established areas. We clocked new merchandise gross sales reserving of Rs 908 crore throughout the second half of the fiscal”.
Optimised price constructions and environment friendly working capital administration coupled with a gentle ramp-up in collections led to constructive money flows in all quarters. Consequently, DLF’s web debt declined by Rs 382 crore to Rs 4,885 crore on the finish of March 2021.
DLF mentioned workplace leases grew by 10% throughout the fiscal, whereas retail enterprise exhibited regular restoration throughout the second half of the fiscal.
Its rental arm, DLF Cyber Metropolis Builders (DCCDL) reported consolidated income of Rs 4,385 crore in Q4FY21 in opposition to Rs 5,085 crore final 12 months. The efficiency was muted because of the affect on retail enterprise. Ebitda stood at Rs 3,417 crore in comparison with Rs 3,722 crore final 12 months. Internet revenue was decrease at Rs 913 crore in opposition to Rs 1,317 crore a 12 months in the past, primarily because of decrease retail income and decrease curiosity earnings.
“Progress on getting DCCDL REIT prepared stays on observe. The rental enterprise is witnessing some short-term affect with new leasing exercise remaining tepid because of the resurgence of the pandemic. We, nevertheless, imagine it’s a short-term blip, and the underlying attractiveness of the Indian market is anticipated to stay in place,” DLF mentioned.
The IT sector, together with captives, continued to exhibit progress and hiring exercise is anticipated to rise. Therefore, the corporate continues to take care of a constructive outlook for the rental enterprise, it added.
The true property developer introduced re-designation of Ashok Tyagi and Devinder Singh as complete time administrators and CEOs of the corporate. The administration change befell after CEO Rajeev Talwar superannuated on March 31, 2021.
DLF additionally inducted daughters of DLF chairman Rajiv Singh, Savitri Singh and Anushka Singh as non-executive and non-independent administrators on the corporate’s board.