DLF’s workplace leases grew by 10 per cent and retail enterprise exhibited regular restoration.
Shares of the Delhi-based actual property developer – DLF – fell as a lot as 6.2 per cent to hit an intraday low of Rs 290.75 after its reported March quarter earnings. DLF reported web revenue of Rs 481 crore in January-March interval in contrast with a lack of Rs 1,858 crore throughout the identical interval final 12 months. DLF’s income from operations rose 1 per cent yearly to Rs 1,712.57 crore.
DLF’s residential enterprise noticed a comeback in monetary 12 months 2020-21.
“Demand in the residential business exhibited a strong comeback in the fiscal. New Sales bookings for the fiscal stood at Rs 3,084 crore, reflecting a Y-o-Y growth of 24 per cent. Our new product launches of Independent Floors in DLF City and New Gurgaon witnessed healthy absorption vindicating demand for quality products in established locations. We clocked new products sales booking of Rs 908 crore during the second half of the fiscal,” DLF mentioned in a press launch.
“Optimized cost structures and efficient working capital management coupled with a steady ramp-up in collections led to positive cash flows in all quarters. Consequently, our Net Debt stood at Rs 4,885 crore, a reduction of Rs 382 crore,” DLF added.
For the monetary 12 months 2020-21 DLF’s workplace leases grew by 10 per cent and retail enterprise exhibited regular restoration in the course of the second half of the fiscal, the corporate mentioned.
Consolidated income for the earlier fiscal got here in at Rs 4,385 crore as in comparison with Rs 5,085 crore final 12 months. The efficiency was muted as a result of influence on retail enterprise. EBITDA or working revenue stood at Rs 3,417 crore as in comparison with Rs 3,722 crore final 12 months. Net revenue at Rs 913 crore as in comparison with Rs 1,317 crore, primarily attributable to decrease retail income and decrease curiosity earnings, DLF added.
As of 11:46 am, DLF shares traded 3.47 per cent decrease at Rs 299.20, underoserforming the Sensex which was down 0.41 per cent.
