DLF second quarter net at Rs 236 crore

Realty major DLF Group on October 30 announced its financial results for Q2FY21. The Consolidated Revenue of the company stood at Rs. 1,723 crore as compared to Rs 646 crore in Q1FY21, reflecting a 2.6 x growth, said a press release issued by the company.

The EBITDA stood at Rs 576 crore as compared to Rs 100 crore in the previous quarter. The Net Profit of the developer was at Rs 236 crore compared to Net loss of Rs 72 crore in the previous quarter.

The Consolidated Revenue of DLF Cyber City Developers Limited at Rs 1,040 crore implied a Q-o-Q growth of 12 per cent. EBITDA (ex-other income) stood at Rs 733 crore as compared to Rs 665 crore in the previous quarter, implying a 10 pc growth Q-o-Q. The Net Profit was at Rs 171 crore

Though COVID-19 has impacted the economy and the market sentiment in the short term, “we remain optimistic about our business and its growth returning to normalcy”, said the company.

The residential business, it said, is seeing green shoots of demand with consumer interest witnessing rising trends. “We believe that consistent quality supply in conjunction with affordability will lead to overall recovery in demand”, the company added.