DLF Ltd Share Price – NSE /  BSE

Realty, Mid Cap

The Board of DLF at its meeting held on 03 December 2024 has approved the appointment of Badal Bagri, as Chief Financial Officer (CFO) of the Company, designated as Group CFO w.e.f. 6 December 2024.

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DLF Info City Developers (Kolkata), a wholly-owned subsidiary company of DLF Cyber City Developers, a material subsidiary of the company.

Kolkata Tech Park is one of the largest IT Park in eastern India with gross leasable area of 1.49 mn. Sq. ft. Kolkata IT Park is LEED platinum certified building from U.S. Green Building Council and home to global technology leaders.

Commenting on the deal, Sriram Khattar, vice chairman & MD, DLF Rental Business said that “This is reflective of the value embedded in our core assets created over the years with good quality tenant partners and asset management. It also demonstrates our commitment to continuously enhance shareholder value.”

Sidharth Pansari, MD, Primarc Group & President CREDAI Bengal, said, “We are excited about this transaction which is a pivotal step in our growth and diversification journey. It strengthens our contribution to Bengal's tech ecosystem, and we will benefit immensely from DLF’s learnings, systems & processes.”

Vinod Dugar, Promoter of RDB Group, expressed his excitement, stating “This step strengthens our joint commitment to supporting Bengal's dynamic economy through projects that prioritise both sustainability and excellence.”

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 surged 121.76% to Rs 1,381.08 crore on 46.55% rise in revenue from operations to Rs 1,975.02 crore in Q2 FY25 over Q2 FY24.

Shares of DLF added 1.05% to end at Rs 822.80 on the BSE.

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DLF announced that its subsidiary, DLF Info City Developers (Kolkata), a wholly owned subsidiary of DLF Cyber City Developers, has entered into definitive agreement to sell and transfer its Kolkata Tech Park 1 business undertaking to RDB Primarc Techno Park LLP ( An affiliate of Primarc & RDB group), on a slump sale basis for an aggregate consideration of approx. ~Rs. 637 crore.

Kolkata Tech Park 1 is one of the largest IT Park in eastern India with gross leasable area of approx. 1.49 mln. sqft. It is LEED Platinum Certified building from USGBC and home to global technology leaders.

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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.

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