Realty major DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to ₹920.71 crore in the quarter ended March on higher income amid strong housing sales. Its net profit stood at ₹570.01 crore in the year-ago period.
Total income rose to ₹2316.70 crore in the fourth quarter of 2023-24 fiscal from ₹1,575.70 crore in the corresponding period of the previous year, according to a regulatory filing. Total income grew to ₹6,958.34 crore during the last fiscal from ₹6,012.14 crore in the 2022-23 financial year.
Also read: Zomato Q4 results: Net profit at ₹175 crore versus loss of ₹188 crore YoY; 5 key highlights
During 2023-24 fiscal, the company’s net profit increased to ₹2,727.09 crore from ₹2,035.83 crore in the preceding year.
The realty major further announced dividend of 5 each per equity share (250%) of face value of ₹2 each for FY 2023-24, subject to approval of the shareholders.
It also announced the appointment of Ashok Kumar Tyagi as the Managing Director of the company, after the consequent resignation of Vivek Anand effective from 29th February 2024.
Furthermore, the company has appointed PricewaterhouseCoopers Services LLP as Internal Auditors for the Financial Year 2024-25.
DLF is the country’s largest real estate firm in terms of market capitalisation.
Also read: Zomato, its first full-year profit in pocket, turns focus on Blinkit
It has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of future development potential across residential and commercial segments.
DLF group is primarily engaged in the business of the development and sale of residential properties ( development business) and the development and leasing of commercial and retail properties (annuity business). It has an annuity portfolio of over 42 million square feet with an annual rental income of around ₹4,000 crore.
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Published: 13 May 2024, 07:46 PM IST
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