DLF Q4 net profit jumps 41% YoY to Rs 570 crore; revenue down by 5.9%

Realty main DLF on Friday reported a 40 per cent improve in its consolidated web revenue to Rs 570 crore throughout the March-ended quarter of the final monetary 12 months (This fall FY23). It was Rs 405 crore within the year-ago interval.

DLF mentioned its web revenue for the entire monetary 12 months FY23 stood at Rs 2,035.83 cr as towards Rs 1,500.86 cr in FY22.

Firm’s income from operations was down by  5.9 per cent and stood at Rs 1,456.06 crore  in This fall FY23. Nevertheless, within the 12 months in the past interval, it was Rs 1,547.26 crore. Whereas for the total final monetary 12 months (FY23), its income stood at Rs 5,694.83 cr as towards Rs 5,717.39 cr in FY22.

DLF’s working revenue, calculated as EBITDA (earnings earlier than curiosity, tax, depreciation and amortisation) rose 8 per cent to Rs 397 crore for the fourth quarter. In the meantime margins stood at 27.4 per cent within the reporting interval.

The Board has additionally beneficial a dividend of Rs 4 every per fairness share which is 200 per cent on the face worth of Rs 2 every for FY23. 

Firm’s residential enterprise delivered a file efficiency by clocking new gross sales bookings of Rs 8,458 crore, reflecting a year-on-year progress of 210 per cent. Cumulative new gross sales for FY23 stood at Rs 15,058 crore annual gross sales bookings.

“The sturdy enterprise efficiency led to a wholesome surplus money era enabling important strengthening of our steadiness sheet. Consequently, our web debt now stands lowered to Rs 721 crore, one of many lowest ranges,” DLF mentioned in a regulatory submitting.

DLF mentioned that its workplace portfolio remained regular and continued its path to normalcy. The restoration throughout its workplace phase stays gradual on account of continued international macro headwinds.

The retail enterprise additionally exhibited sturdy demand momentum and continues to function at excessive occupancy ranges. 

“Footfall ranges are actually reaching the pre-pandemic stage, with consumption developments exhibiting buoyancy. We anticipate sustained momentum for high quality retail locations and therefore proceed our growth plans on this phase throughout a number of markets. We proceed to work extensively in the direction of our upcoming retail vacation spot, Mall of India at Gurugram for which planning is in superior phases,” DLF mentioned.

The corporate will proceed to put money into its new developments throughout DLF Downtown, Gurugram and Chennai and is implementing asset enhancement methods throughout the prevailing portfolio. 

Consolidated income of DLF Cyber Metropolis Builders Restricted in FY23 grew to Rs 5,419 crore, reflecting Y-o-Y progress of 19 per cent. Consolidated revenue for FY23 stood at Rs 1,429 crore, a Y-o-Y progress of 43 per cent.