DLF reported 61% rise in consolidated net profit to Rs 380 crore despite a 10% decline in total income to Rs 1,557 crore in Q2 FY22 over Q2 FY21.
EBIDTA fell by 7% to Rs 534 crore in Q2 FY22 from Rs 577 crore in Q2 FY21. EBIDTA margin was 34% in Q2 FY22 as against 33% in Q2 FY21.
While the company's finance costs declined by 22% to Rs 176 crore, depreciation costs fell by 6% to Rs 37 crore in Q2 FY22 over Q2 FY21.
As compared with Q1 FY22, the company's net profit and total income in Q2 FY22 have risen by 12% and 25%, respectively.
DLF said that the residential business continued 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 Y-o-Y growth of 77%.
The Super luxury segment exhibited outperformance with The Camellias clocking record new sales of Rs 1,037 crore in the quarter. Demand for new products of independent floors across Gurugram market continues to witness healthy absorption. The monetization of completed inventory across markets continues to gain traction.
"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 endeavor of bringing new offerings across segments and geographies. With increasing volumes and well calibrated price hikes, we expect further margin expansion for our. Projects, the real estate developer said.
The company generated cash of Rs 759 crore during the quarter. Net Debt stood at Rs 3,985 crore.
Ashok Kumar Tyagi, whole time director & CEO DLF, said, As India's leading real estate company, we remain committed to drive business growth while building resilient ecosystems that promote a more sustainable way of living. We are continually striving to embed leading ESG practices in our business and operations. This recognition towards our ESG initiatives is a further testament to our efforts.
DLF is primarily engaged in the business of development and sale of residential properties (the development business) and the development and leasing of commercial and retail properties (the annuity business).
The scrip was up 0.06% to currently trade at Rs 396.50 on the BSE.
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