‘DLF’s new sales almost doubled to ₹2,018 crore in Q3’
The Hindu
Realty major DLF Ltd. almost doubled its new sales in the third quarter ended December to ₹2,018 crore , while cumulative new sales bookings for the nine-month period ended December stood at ₹.4,544 crore. “In the residential segment, DLF has done better than what it did in new sales three years ago,” said P. Ramakrishnan, group executive director.
“The cumulative sales booking for 2018-19 more than doubled to ₹2,435 crore from ₹1,000 crore in the year-earlier period, due to the unveiling of super-luxury projects in the NCR and sale of residual inventories in rest of the country. For FY21, the cumulative sales booking was ₹3,084 crore,” he added.
Asserting that the residential markets continued to exhibit improving demand trends due to the opening up of the economy along with the waning of pandemic, he said DLF had raised the residential sales guidance for FY22 to ₹6,000-6,500 crore from ₹4,000 crore.
Armed with huge parcels of land in and around Chennai, DLF has chalked out expansion plans for residential markets in Southern cities such as Chennai, Hyderabad and Kochi.
To begin with, DLF unveiled an 85-acre plotted development project in Chennai, while it is mulling a high-rise residential project in Chennai, which is in the design-cum-approval stage. In Kochi, it is planning to start either a residential or residential-cum-commercial project.
During the third quarter, consolidated revenue rose to ₹1,687 crore from ₹1,668 crore from the year earlier period, while net profit contracted to ₹.379 crore from ₹449 crore, due to provisions. Collections during the quarter stood ₹1,281 crore, it said in a regulatory filing.
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