DLF Ltd’s sales bookings increased double year on year to Rs 13,316 crore in the first nine months of the current fiscal year, owing mostly to rising demand for its premium home projects in Gurugram.
The company’s sales bookings were Rs 6,599 crore from April to December of the previous fiscal year.
DLF’s sales bookings totaled slightly more than Rs 15,000 crore in fiscal 2022-23, and they are expected to rise further in the current fiscal year.
On Wednesday, the business announced a more than threefold growth in sales bookings to Rs 9,047 crore in the December quarter, compared to Rs 2,507 crore in the previous year. This is the company’s largest quarterly sales booking.
The record sales bookings in the third quarter were mostly driven by the sale of 1,113 premium units in Gurugram for Rs 7,200 crore within three days of their pre-launch last month.
In the third quarter of 2023-24, DLF unveiled three new projects totaling more than 5 million square feet, two in Gurugram and one in Panchkula.
DLF said it had strong demand, and both Gurugram projects were sold out in record time.
“With this strong performance, the new sales bookings for the nine months stood at Rs 13,316 crore and hence will be comfortably exceeding our full-year guidance,” according to the business.
DLF reported a 27% rise in total net profit to Rs 655.71 crore in the December quarter, driven by more income and decreased costs.
Last year, its profit was Rs 517.94 crore.
Total consolidated income increased to Rs 1,643.51 crore in the third quarter of this fiscal year, up from Rs 1,559.66 crore in the same time last year.
DLF’s overall costs fell to Rs 1,131.97 crore in the December quarter, from Rs 1,151.62 crore in the previous year.
DLF is India’s largest real estate firm by market capitalization.
DLF Group offers 215 million square feet of development potential in residential and commercial areas. The group’s annuity portfolio exceeds 42 million square feet.
DLF, or Delhi Land & Finance, is a real estate development business formed in 1946 by Chaudhary Raghvendra Singh. DLF is India’s largest publicly held real estate company, operating in over 24 cities and 15 states. The company’s activities include property acquisition, planning, building, and marketing.
DLF builds commercial, residential, hotel, and retail projects. The corporation also owns brands like Disney & Me, PURE Home + Living, Sunglass Hut, KIKO, and Claire’s.
