New Delhi: Real estate firm DLF on Friday reported 56% increase in its consolidated net profit at 172.77 crore for the April-June period of the current fiscal year. Its net profit stood at 110.70 crore in the same period a year ago, the company said in a regulatory filing.

DLF’s total income, however, declined to 1,657.67 crore during the first quarter of this fiscal from 2,211.24 crore in the corresponding period of the previous fiscal year.

DLF’s sales booking during the June quarter stood at 600 crore and the company remains on track to achieve fresh sales booking of 2,000– 2,250 crore in the current fiscal year, the company said.

DLF’s net profit increased despite drop in total income as the company earned 241.50 crore as its share of profit in associates and joint ventures.

The company has a joint venture with Singapore’s sovereign wealth firm GIC for commercial real estate business.

In the joint venture DLF Cyber City Developers Ltd (DCCDL), DLF owns 66.67% stake, while GIC holds the remaining stake. GIC bought stake in DCCDL for 9,000 crore in December last year.

Shares or DLF Ltd fell 2.02% to close at 196.60, while the BSE benchmark index Sensex lost 0.41% to close at 37869.23 points. The Realty Index dropped 0.15% to settle at 2104.87 points.

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