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Real estate company DLF Ltd on Monday reported a 140 per cent rise in its Q1 FY20 net profit at ₹414 crore, against ₹172 crore in the previous year period. However, its total income declined 7 per cent to ₹1,541 crore (₹1,657.67 crore).
“Our strategy of build and sell has worked out to be a successful one. Given the overhang owing to numerous factors, the markets are expected to lean towards developments which are either complete or at advanced stages of completion and mitigate various risks perceived to be attached to under-construction projects,” said Ashok Tyagi, Wholetime Director at DLF.
The company said its promoters infused the last tranche of ₹2,250 crore into the company last quarter. With a total infusion of ₹11,250 crore, it represents one of the largest infusions by promoters in an Indian company.
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