DLF’s FY21 net grows 14 pc at Rs 1,169 cr

Leading real estate developer DLF Limited announced its financial results for Q4 & FY21 on June 11. A press release said that the company’s business exhibited resilient performance amid a challenging year and it is confident of delivering its business goals.

As per financial highlights for Q4FY21, DLF’s consolidated revenue stood at Rs. 1,907 crore, reflecting a Y-o-Y increase of 2 per cent. The EBITDA was at Rs 648 crore, a Y-o-Y growth of 31 per cent. The company made a net profit at Rs 481 crore, underlying Y-o-Y growth of 42 per cent.

The consolidated revenue for FY21 was at Rs. 5,945 crore, witnessing a decline of 14 pc Y-o-Y. While the EBITDA for FY21 stood at Rs 1,949 crore, the net profit was at Rs 1,169 crore, a Y-o-Y growth of 24 pc.

According to the DLF press release, demand in the residential business exhibited a strong comeback in the fiscal. New sales bookings for the fiscal stood at Rs 3,084 crore, reflecting a Y-o-Y growth of 24 per cent.

New product launches of independent floors in DLF City and New Gurgaon witnessed healthy absorption vindicating demand for quality products in established locations, said the release. DLF clocked new products sales booking of Rs 908 crore during the second half of the fiscal.

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According to the release, DLF is enthused with the recovery witnessed in the residential markets and expects this growth cycle to continue in the long run. Given the strong outlook for the residential segment, the company continues to embark on this upcycle by scaling its new product offering across segments and geographies, added the release.

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