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BENGALURU : DLF Ltd, India’s largest real estate developer, on Tuesday reported a 15.04% fall in net profit to 405.54 crore for the quarter-ended March, compared to 477.37 crore in the corresponding period a year ago.
Total income during the January-March period also fell by 13.3% to 1652.13 crore, from 1906.59 crore in the year-ago period.
“Housing demand continues to exhibit a structural upswing across segments and geographies. The residential business exhibited a record performance in the fiscal with new sales bookings of 7,273 crore, reflecting a year-on-year growth of 136%," DLF said in a release.
The developer said it witnessed strong growth across all price segments with luxury segment leading this trend. Its super luxury project ‘The Camellias’ delivered sales bookings of 2,550 crore in 2021-22.
“…Our new product launches across New Delhi, Gurugram and Chennai continue to receive encouraging response from the market vindicating demand for quality products in established locations. The continued momentum further demonstrates rising customer preference towards larger and credible brands with proven track record. New products sales bookings stood at 4,683 crore during the fiscal," it said.
DLF said it continues to place enhanced focus on surplus cash generation from its operations. “Strong collections along with sales ramp-up led to one of the highest levels of surplus cash generation of 2,205 crore during the fiscal. In line with our business goal of de-risking our balance sheet, we continue to deleverage and consequently our net debt at the end of the fiscal stood at 2,680 crore, a 46% y-o-y reduction.
DLF’s rental arm DLF Cyber City Developers Ltd (DCCDL) said it has witnessed a gradual ramp up in return of occupiers to their workplaces and expect these trends to further improve in the next few months.
DLF also said that its retail business has shown a strong rebound despite temporary dislocations due to the pandemic in the fourth quarter.
“Footfalls and consumption trends continue to support the healthy growth in this segment. Consequently, we have initiated development plans to build out new retail destinations across certain geographies," the company said.

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