DLF Ltd Share Price – NSE  /  BSE

Realty, Mid Cap

EBITDA improved by 17% year-over-year (YoY) to Rs 633 crore during the period under review. EBITDA margin was 39% in Q3 FY24 as against 35% in Q3 FY23.

For the October – December 2023 quarter, finance costs amounted to Rs 84 crore (down 12% YoY) and depreciation charges added up to Rs 38 crore (down 3% YoY).

PBT before exceptional items in Q3 FY24 stood at Rs 511 crore crore, up by 25% from Rs 408 crore in Q3 FY23.

The company generated cash of Rs 1,108 crore from operations in third quarter of FY 2023-24.

DLF said: We recorded our highest quarterly sales booking of Rs 9,047 crore backed by multiple launches during the quarter. We launched three new products totaling over 5 million square feet (msf) during the quarter across multiple segments.

We witnessed healthy demand momentum across all these products… With this strong performance, the new sales bookings for the nine-month period stood at Rs 13,316 crore and hence will be comfortably exceeding our full year guidance.”

We improved our net cash position to Rs 1,246 crore at the end of the quarter. The strong performance was backed by strong collections and focused cash management.

The office portfolio exhibited a sustained performance while retail segment continues to deliver healthy growth.

Our non-SEZ segment continues to operate at healthy occupancy levels of 97%. Our new office developments across Gurugram and Chennai continue to garner strong interest from large occupiers and consequently have achieved a pre leasing of approximately 91%.

The government’s decision for the amendment in the SEZ regulations allowing floor wise denotification should lead recovery in the SEZ segment too. We expect normalcy to return in occupancy levels in this segment over the next few quarters.

Our retail business continues to deliver strong growth and hence we continue to remain focused on increasing our retail portfolio across multiple geographies,” the real-estate developer added.

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.

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Net profit of DLF rose 26.46% to Rs 656.61 crore in the quarter ended December 2023 as against Rs 519.21 crore during the previous quarter ended December 2022. Sales rose 1.77% to Rs 1521.25 crore in the quarter ended December 2023 as against Rs 1494.80 crore during the previous quarter ended December 2022.

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DLF will hold a meeting of the Board of Directors of the Company on 24 January 2024.

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Spread across about 25 acres (about 10 hectares) in Sectors 76 and 77, Gurugram, this luxury residential offering by DLF was sold out within 72 hours, in its pre-launch phase.

This enclave will comprise 1,113 luxury residences across 7 towers, presenting 4 BHK apartments and penthouses. 'DLF Privana South’ will be part of a larger development, DLF Privana” spread over approximately 116 acres in Sectors 76 and 77.

The project offers a majestic view of the verdant Aravalli Range and in the vicinity of the upcoming Safari Park spread over 10,000 acres.

Aakash Ohri, joint managing director and chief business officer, DLF Home Developers, said, “DLF Privana South is the latest addition to our esteemed portfolio of luxury residences. The swift pre-launch sellout serves as a testament to the increasing demand for high-rise luxury developments by DLF, delivering the highly aspirational DLF lifestyle.

To discourage bulk bookings, each buyer was allotted only one unit, with about 25% of the sales coming from Non-Resident Indians (NRIs), and a booking amount of Rs 50 lakhs, as opposed to the industry standard of Rs 10 lakhs.

We extend our heartfelt gratitude to patrons both in India and abroad for entrusting DLF's residential offerings. DLF Privana South will serve as an integral part of the integrated ecosystem, DLF Privana, spanning about 116 acres in the heart of Gurugram's Sector 76 and 77.

With this ecosystem, we envision transforming this part of the city into a thriving and bustling luxurious neighbourhood, mirroring the success we have achieved on Raghvendra Marg (formerly known as Golf Course Road) with DLF5.”

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.

The realty major’s consolidated net profit increased 30.55% to Rs 622.78 crore on 3.48% increase in revenue from operations to Rs 1,347.68 crore in Q2 FY24 over Q2 FY23.

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