DLF Shares Surge over 7% as Q2 FY25 Earnings Results: Profit Soars to ₹1,381 Crore, Revenue Jumps 48%

DLF shares price, India’s largest real estate company, surged over 6% on October 28, 2024, following the announcement of a significant 121% year-on-year (YoY) rise in consolidated net profit, reaching ₹1,387 crore for the quarter ending September 30, 2024. Total income rose by nearly 48% to ₹2,181 crore, up from ₹1,476.42 crore in the previous year’s corresponding period.

Strong First Half of FY25

For the first 6 months of the fiscal year, DLF’s net profit increased substantially to ₹2,026.69 crore, compared to ₹1,149.78 crore in the same period last year. Total income for April to September 2024 grew to ₹3,910.65 crore, up from ₹2,998.13 crore in the previous fiscal period.

Sales Bookings Drop Due to Project Approval Delays

DLF’s new sales bookings in Q2 dropped 69% to ₹692 crore due to delays in receiving approvals for upcoming projects. Despite this, the company remains optimistic about the residential sector’s outlook, noting steady performance in its development business. Approvals for DLF’s luxury project, The Dahlias in DLF 5, Gurugram, have now been received, boosting confidence for the current quarter. Sales bookings for the first half of FY25 reached ₹7,094 crore, keeping the company on track to meet its annual guidance. DLF’s net cash position stood at ₹2,831 crore, even after a dividend payout of ₹1,238 crore in Q2.

Strong Quarter for DLF Cyber City Developers Limited (DCCDL)

DLF’s subsidiary, DLF Cyber City Developers Limited (DCCDL), recorded a 13% YoY increase in revenue, reaching ₹1,653 crore in Q2 FY25, while its profit grew by 25% to ₹521 crore. The rental business has shown steady growth, prompting the company to increase capital expenditures to support rental expansion. DLF has begun developing the next phases of Downtown Chennai and Downtown Gurugram, covering around 11 million square feet (MSF) and including a major retail space of about 2 MSF in Gurugram.

About DLF

With a strong presence in both residential and commercial real estate, DLF has developed over 178 projects, spanning more than 349 million square feet. The company’s ongoing and future projects include 220 million square feet of potential development across residential and commercial properties, affirming its position as India’s leading real estate firm by market capitalisation.

At 01:40 PM, DLF’s share price traded over 6.50% higher at ₹839.60 on the NSE. The stock has given around 49.25% returns in the last 1 year. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.