DLF, the country’s largest property developer, today reported flat growth in its net profit for the three months through December due to higher depreciation and amortisation charges, coupled with higher cost of land and plots developed during the quarter.
The company posted a net profit of Rs 466 crore, against Rs 468 crore in the previous corresponding quarter. Net sales stood at Rs 2,479 crore, compared to Rs 2,025 crore.
The company incurred depreciation and amortization charges of Rs 161 crore, compared to Rs 80 crore a year earlier.
During the quarter, the company divested non-core assets worth Rs 403 crore and till date, the divestment amount stands at Rs 2,900 crore against a target of Rs 4,500 crore, which excludes wind power. The company leased 1.62 million sq ft space and booked sales of 2.48 million sq ft during the quarter.