Companies

DLF net up 66% in Q2 at ₹378.12 crore

Our Bureau New Delhi | Updated on October 28, 2021

Total income sees year-on-year dip but quarter-on-quarter growth

Realty firm DLF on Thursday reported a 66 per cent increase in consolidated net profit for the quarter ended September 30 at ₹378.12 crore as compared to ₹227.75 crore reported in the same quarter of the previous fiscal.

The company had reported a net profit of ₹337.17 crore in the June quarter of 2021. For the six months ended September 30, it had recorded net profit of ₹716 crore, up 358 per cent y-o-y from ₹156 crore.

Total income saw a dip to ₹1556.53 crore from ₹1723.09 crore in the same quarter of the previous fiscal. The total income of the company in the previous quarter stood at ₹1242.27 crore.

Sectoral recovery

“The residential business continues to tread on its growth trajectory with healthy traction and strong demand momentum across segments and geographies. New sales bookings exhibited a strong performance during the quarter and stood at ₹1,512 crore, reflecting a y-o-y growth of 77 per cent,” said the company’s statement.

Also see: Realty stocks zoom, as registrations jump; cut in stamp duty, benign rates ‘bode well’

It added that the rental business witnessed a temporary dislocation with the second wave. With the rapid vaccination drive led by the Government and lower infection rates, companies are gradually returning to their workplaces. Strong business growth and aggressive hiring plans by IT/ITeS will aid in the recovery and growth of this segment.

“The retail business continues to exhibit fast recovery. All our malls are now operational, though, with certain restrictions. We are witnessing a steady increase in the footfalls and expect growth in consumption across all segments,” said the statement.

Published on October 28, 2021

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