DLF's Q2FY22 YoY consolidated net profit up 61%

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SME Times News Bureau | 29 Oct, 2021
Real estate major DLF on Thursday reported a rise of 61 per cent in its Q2FY22 consolidated net profit on a year-on-year basis.

Accordingly, the Q2FY22 net profit rose to Rs 380 crore over the corresponding period of the previous fiscal.

"Our focused actions on collections along with prudent capital allocation has led to significant cash generation of Rs 759 crore during the quarter," the company said in a statement.

"Consequently, our net debt stood at Rs 3,985 crore."

According to DLF, the residential business continues to tread on its growth trajectory with healthy traction and strong demand momentum across segments and geographies. "New sales bookings exhibited a strong performance during the quarter and stood at Rs 1,512 crore, reflecting a YoY growth of 77 per cent."

Furthermore, it said that 'Super Luxury' segment exhibited outperformance with "The Camellias" clocking record new sales of Rs 1,037 crore in the quarter. "We are encouraged with these improving demand trends in the residential markets and expect these trends to remain for the long run."

"Given this positive outlook supported by improved fundamental drivers, we continue with our endeavour of bringing new offerings across segments and geographies. With increasing volumes and well calibrated price hikes, we expect further margin expansion for our projects."