By laksh5382 
Real Estate Head, DLF Consolidated net profit rose 121 per cent to ₹1,381 crore for the quarter ending September 30, 2024. Profit in the year-ago period was ₹622 crore.
Consolidated revenues witnessed a 48 per cent year-on-year growth at ₹2,181 crore. It was ₹1,477 crore in the same period a year ago.
Gross margin stood at 45 percent in the quarter under review while new slot bookings stood at ₹692 crore. The company had an operating cash surplus of ₹1,211 crore.
In a statement, DLF said, the outlook for the residential business remains strong and its “development business continues to deliver stable performance.” And the company was “on track to meet its (bookings) guidance for the fiscal year”.
“New sales bookings declined to ₹692 crore during the quarter, reflecting delays in obtaining requisite approvals for our new product launches,” it said for ‘The Dahlias’, a super-luxury offering in Gurugram. Approval has been received. Early part of the current quarter.
DLF Cyber City Developers Ltd (DCCDL) posted revenue of Rs 1,653 crore, up 13 per cent year-on-year, and consolidated profit at Rs 521 crore, up 25 per cent year-on-year.
The real estate major noted in its statement that the rental business is witnessing “positive growth” and is “demonstrating steady growth”.
“We have intensified our capital expenditure commitments to fuel the growth of our rental portfolio and have commenced development of approximately 11 million sq ft in the subsequent phases of Downtown, Chennai and Downtown, Gurugram – including in Gurugram. Also includes 2 MSF (estimated) retail destination. ” It said. The ongoing projects, including Atrium Place and 3 retail malls in Gurugram, are on track to start lettings in the next financial year.