Outlook positive for DLF after strong Q1 performance despite lockdown

While residential portfolio is strong, commercial assets may take time to recover

Despite the impact of the lockdown in Q1FY22, DLF posted a resilient performance maintaining the momentum in sales bookings. Aided by new product sales of Rs 542 crore including sales of independent floors, the company reported bookings of Rs 1,014 crore, the third consecutive quarter of sales crossing the Rs 1,000 crore mark.

In addition to new products, a majority of the sales (Rs 330 crore) were on account of sales of its existing inventory at Camellias project at Gurgaon. The company indicated healthy sales of inventory in this project with 2.4 million square feet sold out of a total