(Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)

DLF’s Q4 net profit jumps 79% to 435 crore

  • Total income rises 44% to 2,661 crore
  • In FY19, DLF’s net profit dropped to 1,314 crore from 4,477 crore in FY18

BENGALURU: DLF Ltd, India’s largest real estate developer by market value, on Tuesday said its net profit jumped 79% to 435 crore for the quarter ended 31 March 2019. Its net profit stood at 247.73 crore in the year-ago period

The real estate firm’s total income also rose 44% to 2,661 crore during the same period from 1,845.92 crore in the corresponding period of the previous year, the firm said in a regulatory filing.

“DLF successfully completed the qualified institutional placement (QIP) of 3,173 crore of equity and coupled with infusion of 11,250 crore by the promoters, it has completely transformed its balance sheet," DLF said in a statement.

“...With the debt overhang behind us and completion of all legacy projects, DLF will now work with enhanced focus on generating free cash flow through monetization of our ready to occupy inventory. The company is now entering into the next wave of asset build-out at certain select marquee locations in both, residential and commercial segments," the company added.

In 2018-19 fiscal, DLF’s net profit dropped to 1,314 crore from 4,477 crore in the previous financial year. The drop in profit was because of exceptional gain from sale of rental business in the 2017-18 fiscal.

However, its total income rose to 9,029 crore in 2018-19 from 7,664 crore in the preceding financial year.

On Tuesday, DLF stock on BSE closed 1.4% lower at 171.