DLF's Consolidated Net Profit More Than Doubles to Rs 1,381 Crore in Q2 Despite Decline in Sales Bookings

DLF, a major player in real estate, announced a significant increase in its consolidated net profit for the second quarter of this fiscal year. The profit more than doubled to Rs 1,381.08 crore, driven by increased income. However, sales bookings dropped by 69% to Rs 692 crore during the July-September period due to a lack of new supply.

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In comparison, the previous year's net profit was Rs 622.78 crore with sales bookings at Rs 2,228 crore. The total income for the July-September period of the 2024-25 fiscal rose by 48% to Rs 2,180.83 crore from Rs 1,476.42 crore in the same period last year, as per regulatory filings.

Residential Segment and Sales Bookings

DLF's first-half fiscal net profit surged to Rs 2,026.69 crore from Rs 1,149.78 crore in the previous year. Total income for April-September grew to Rs 3,910.65 crore from Rs 2,998.13 crore in the prior year. New sales bookings in Q2 were down to Rs 692 crore due to delays in approvals for new launches.

The company received approval for its super luxury project, The Dahlias in DLF 5, Gurugram, early this quarter. DLF stated that new sales bookings for the first half of the fiscal reached Rs 7,094 crore and they are on track to meet their full-year guidance.

Rental Business Growth

DLF's rental arm, DLF Cyber City Developers Limited (DCCDL), reported consolidated revenue of Rs 1,653 crore in Q2, marking a year-on-year growth of 13%. DCCDL's consolidated profit increased by 25% to Rs 521 crore compared to Q2FY24.

The rental business is experiencing positive growth trends. Encouraged by these trends, DLF has accelerated capital expenditure commitments to expand its rental portfolio further.

Development Projects and Future Outlook

The company has started developing additional phases of Downtown projects in Chennai and Gurugram. These projects cover approximately 11 million square feet and include a significant retail destination of two million square feet in Gurugram.

DLF believes it is well-positioned to benefit from a structural upcycle supported by a substantial land bank with high potential. The company has a robust pipeline of new products across both development and rental businesses.

DLF has developed over 178 real estate projects covering more than 349 million square feet. It holds a development potential of 220 million square feet across residential and commercial segments and an annuity portfolio exceeding 44 million square feet.