DLF Nets Rs 528 cr Profit in Q1FY24, Q1 EBITDA at Rs 495 cr, New Sales Booking at Rs 2,040 cr

New Delhi, July 21, 2023: DLF Limited announced its Q1FY24 results on Friday. Consolidated Revenue for the quarter stood at Rs 1,522 crore. During the period, Gross margins were at 52% and EBITDA stood at Rs 495 crore. The company registered 12% Y-o-Y growth in its Net Profit, which remained at Rs 528 crore.

New sales bookings for the quarter stood at Rs 2,040 crore. A release issued by the company said, “Our launched inventory continues to witness healthy traction from customers. We remain optimistic about the demand for housing as the cycle continues to remain positive. We are gearing up for bringing new products into the markets during the fiscal. We believe that macro tailwinds along with the strong demand outlook augur well for our business. We continue to focus on strengthening our balance sheet and cash generation. Strong collections led to a further reduction in net debt during the quarter. Consequently, our Net Debt now stands reduced to the lowest ever at Rs 57 crore”. 

The office portfolio maintained its stability, while the retail business continues to follow an upward growth trajectory. Q1FY24 consolidated revenue of DLF Cyber City Developers Limited stood at Rs 1,412 crore, reflecting y-o-y growth of 12%; consolidated profit for the quarter stood at Rs 391 crore, a y-o-y growth of 21%.

“We are experiencing strong demand for our new office developments. We have achieved pre-leasing of approximately 82% across our two new office complexes – DLF Downtown in Gurugram and Chennai. We remain enthused about the growth prospects of our retail business and remain committed towards expanding our retail offerings in multiple markets. Our rental business has been conferred as the world leader in LEED Zero Water. We hold over 45 LEED Zero Certifications by the US Green Building Council (USGBC) – the highest in the world for any real estate developer”, mentioned the statement released by the company.