Beating Street estimates, DLF, the country’s largest listed real estate developer, reported a 61% year-on-year (y-o-y) surge in net profit for Q3FY25, reaching Rs 1,059 crore, compared to Rs 657 crore in the same quarter of the previous financial year. Analysts had projected a profit of Rs 868 crore.
However, the company’s revenue fell short of expectations and remained flat at Rs 1,529 crore in Q3FY25, marginally higher than Rs 1,521 crore in Q3FY24. Analysts had anticipated revenue of Rs 1,743 crore.
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Finance costs for the quarter increased by 11.9% to Rs 94 crore, compared to Rs 84 crore in Q3FY24.
DLF’s rental arm, DLF Cyber City Developers (DCCDL), reported a 117% y-o-y growth in consolidated profit at Rs 941 crore in Q3FY25. DCCDL’s revenue increased by 9%, reaching Rs 1,609 crore during the quarter.
The company said its development business saw record new sales bookings of Rs 12,093 crore during the quarter. Its latest super luxury offering, The Dahlias in DLF 5, Gurugram, saw Rs 11,816 crore of new bookings in the opening quarter.
“We have laid down a strong capex program to accelerate the build out of our new products. Development of subsequent phases of Downtown, Chennai and Downtown Gurugram totaling around 11 million sq ft remains on track. Our ongoing projects, including Atrium Place in Gurugram and 3 retail malls, are expected to be completed soon with rents commencing in the next fiscal,” the company said in a release.
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It further said: ” We believe that our business is well poised to leverage this structural upcycle backed by a significant land bank having high embedded potential, a robust pipeline of new products across both development and rental business, strong balance sheet and consistent cash flow generation.”
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