DLF Q4 Results: Profit Up 61.5%, Beats Estimates
The real estate major's consolidated net profit increased 61.5% year-on-year to Rs 919.8 crore in Q4.
DLF Ltd.'s fourth-quarter profit rose, and surpassed analysts' estimates.
The real estate major's consolidated net profit increased 61.5% year-on-year to Rs 919.8 crore in the quarter-ended March 2024, according to an exchange filing. Analysts polled by Bloomberg had estimated a net profit of Rs 643.8 crore.
Revenue from operations rose 46.6% to Rs 2,135 crore during the January-March quarter, as compared with the Rs 1,844.6 crore consensus estimate of analysts tracked by Bloomberg.
DLF Q4 FY24 Highlights (YoY)
Revenue up 46.6% to Rs 2,135 crore (Bloomberg estimate: Rs 1,844.6 crore).
Ebitda rises 89.3% to Rs 754 crore.
Margin expands to 35.3% versus 27.4%.
Net profit up 61.5% to Rs 920 crore (Bloomberg estimate: Rs 643.8 crore).
Other Key Highlights
The development business recorded sales booking of Rs 14,778 crore during the year, exceeding its pre-sales guidance of Rs 12,000-13,000 crore by FY24-end.
The company launched approximately 6 million square feet of new products during the year, which saw strong absorption resulting in monetisation of almost entire inventory during the launch period.
For FY25, the company plans to launch more than 11 msf of new products targeting various markets including Gurugram, Mumbai, Goa and Chandigarh Tri-City. The estimated sales potential of these launches is approximately Rs 36,000 crore.
The company generated cash flow from operations of Rs 4,385 crore during the year. It maintained its net cash position for the business, which stood at Rs 1,547 crore at the end of the period.
The board has announced a dividend of Rs 5 per share.
Shares of DLF closed 1.5% higher at Rs 838.25 apiece ahead of the results announcement, as compared with a 0.15% rise in the benchmark Sensex.
