DLF will launch projects worth about 20 thousand crores this year, net profit increased by 36 percent in Q4
After the Q4 results, DLF is preparing to launch projects worth about Rs 20,000 crore in this financial year 2023-24. The company said that DLF's sales have increased twice as compared to the previous financial year.
Real estate developer major Delhi Land and Finance (DLF) Ltd has announced the launch of projects worth Rs 19,710 crore for sale by March next year. The company aims to achieve sales bookings of around Rs 12,000 crore in the current financial year on strong housing demand.
Just yesterday, DLF reported that the company's sales bookings grew more than two-fold in the last fiscal to a record Rs 15,058 crore from Rs 7,273 crore in the previous year. The company earned Rs 8,000 crore from a single luxury housing project "The Arbor", which was launched in Gurugram during the March quarter.
The company informed us that most of the projects to be launched in this financial year will be in the housing segment in Delhi-NCR and Chennai. The company informed that in the last financial year, the company launched 10 million sq ft worth Rs 14,600 crore.
The company released its results for the last quarter of FY23 yesterday. Releasing the results, DLF said that there has been a 40 percent increase in consolidated net profit to Rs 569.60 crore for the quarter ended March as compared to Rs 405.54 crore in the fourth quarter of 2021-22.
At the same time, the company said that the total income in the last quarter of this financial year decreased to Rs 1,575.70 crore from Rs 1,652.13 crore in the same period last year.
Releasing the results of the last quarter, DLF said that the company's net profit has increased by 36 percent to Rs 2,033.95 crore from Rs 1,500.32 crore in the last financial year 2021-22. On the other hand, if we talk about the total income for the whole year 2022-23, then it has come down to Rs.6,012.14 crore from Rs.6,137.85 crore in the previous year.
DLF is the largest real estate firm in India in terms of market capitalization. It has developed over 153 real estate projects and developed an area of over 330 million sq. ft.
DLF Group has an annuity portfolio of over 40 million sq. ft. The company has a development potential of 215 million sq ft in the residential and commercial segments.
