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DLF spurts on reporting strong Q2 performance

28-Oct-24 14:41 Hrs IST

Profit before tax in second quarter of FY25 stood at Rs 576.61 crore, registering a growth of 24.28% on YoY basis.

EBITDA grew 19% YoY to Rs 708 crore during the period under review. EBITDA margin improved to 32% in Q2 FY25 as compared to 34% recorded in the same quarter previous year.

The company generated healthy operating cash surplus at Rs 1,211 crore in the second quarter of FY25.

DLF said: 'The outlook for the residential business continues to be strong and our development business continues to exhibit steady performance. New sales bookings during the quarter were down to Rs 692 crore reflecting delay in receiving the requisite approvals for our new product launches. The approval for our super luxury offering-The Dahlias in DLF 5, Gurugram, have since been received in the early part of the current quarter. New sales bookings for the first half of the fiscal stands at Rs 7,094 crore and we remain on track to meet our guidance for the full fiscal.'

'Our rental business is experiencing a positive upturn and is demonstrating steady growth. Encouraged by these strong trends, we have accelerated our capex commitments to fuel growth of our rental portfolio and have commenced development of the subsequent phases of Downtown, Chennai and Downtown, Gurugram totaling around 11 msf which includes a large 2 msf (approximate) retail destination in Gurugram.

Our ongoing projects, including Atrium Place in Gurugram and 3 retail malls, remain on track to commence rents in the next fiscal. We believe that our business is well poised to leverage this structural upcycle backed by a significant land bank having high embedded potential, robust pipeline of new products across both development and rental business, strong balance sheet and consistent cash flow generation,' the real-estate developer added.

Meanwhile, the board has approved the amalgamation of 16 wholly-owned subsidiaries with DLF, subject to obtaining necessary approvals under applicable laws/ regulations, including approval of the applicable jurisdictional bench of the National Company Law Tribunal.

DLF is one of the oldest and largest real estate companies in India. It has a diverse asset portfolio across the real estate segment and is further expanding its presence across the country. The company has experience in developing real estate projects across business and customer segments.