DLF Q2 net profit rises 18.80%, appoints group CFO1 min read . Updated: 07 Nov 2019, 10:30 PM IST
- The profit came on a 15.82% fall in revenue to Rs1,940.05 crore during the period
- DLF has appointed Vivek Anand as group chief financial officer
BENGALURU : DLF Ltd, India’s largest real estate firm, posted a 18.80% rise in net profit to Rs443.41 crore in the September quarter from a year earlier.
The profit came on a 15.82% fall in revenue to Rs1,940.05 crore during the period.
DLF has appointed Vivek Anand as group chief financial officer (CFO). Anand, 49, was earlier CFO-India subcontinent of GlaxoSmithKline Consumer Healthcare Ltd and a board member. He takes over from Ashok Tyagi, who continues to be a wholetime director and was an acting CFO of the company.
DLF has set a sales target of Rs2,700 crore for 2019-2020. The developer is currently on its way to make the residential business debt free.
In October, DLF said it has settled the entire Rs8,700 crore dues payable to DLF Cyber City Developers Limited (DCCDL), its joint venture with Singapore-based GIC, through transfer of certain commercial properties and land parcels in the group.