DLF posts ₹481 cr net profit in Q4

Realty major DLF on Friday reported a consolidated net profit of ₹480.94 crore for the quarter ended March 31, 2021.

It also appointed Ashok Tyagi and Devinder Singh as the new CEOs of the company.

DLF had posted a net loss of ₹1,857.76 crore in the year-ago period.

Total income rose to ₹1,906.59 crore in the fourth quarter of 2020-21 from ₹1,873.80 crore earlier, according to a regulatory filing.

For the entire 2020-21 financial year, DLF posted a net profit of ₹1,093.61 crore as against a net loss of ₹583.19 crore in FY20.

Total income fell to ₹5,944.89 crore last fiscal from ₹6,888.14 in the 2019-20 financial year.

DLF’s board has entrusted additional responsibilities upon Ashok Kumar Tyagi and Devinder Singh, both of whom are whole-time directors, by re-designating them as chief executive officers and whole-time directors of the company with immediate effect, it said.

The board has also “co-opted Savitri Devi Singh and Anushka Singh as additional directors of the company with immediate effect, subject to the approval of shareholders.” Both Savitri Devi Singh and Anushka Singh are daughters of DLF Chairman Rajiv Singh.