DLF Ltd, the country’s largest listed real estate company, today said its consolidated net profit rose 168 per cent for the fourth quarter ended March 31 at Rs 426.38 crore, compared to Rs 159.05 crore in the year-ago period.
Total revenue jumped by 59 per cent to Rs 2,146.1 crore from Rs 1,351.4 crore in the same period last financial year.
Ebitda, or earnings before interest, tax, depreciation and amortisation, stood at Rs 1,152 crore, an increase of 200 per cent over Rs 384 crore in the corresponding quarter last year.
However, for 2009-10, net profit declined by 61 per cent to Rs 1,730 crore, compared to Rs 4,469 crore in the previous one. Total revenue decreased by 25 per cent to Rs 7,854.2 crore, compared to Rs 10,431.3 crore in 2008-09.
Rajiv Singh, vice-chairman of DLF, said, “The overall economic growth, improved liquidity coupled with buyers’ sentiments turning positive, led to a buoyant demand for our projects across segments – super luxury, high-end and mid-income homes.”
DLF feels the commercial segment has shown signs of improvement and this will create good demand in the coming time.
“The commercial segment has started showing early signs of improvement as the leasing volumes have been improving gradually and there has been a substantial increase in the enquiries in the commercial segment,” said Singh.
DLF also expects that with the Indian economy bouncing back from recession, there will be lots of growth option in the real estate sector.
“Going forward, with the Indian economy projected to grow at a higher pace, we expect the real estate sector to further strengthen, which will in turn strengthen DLF’s growth across all segments.”
