DLF Q4 net up 6% at ₹477 cr sequentially

Realty major DLF Ltd on Friday reported a consolidated net profit of ₹477 crore for the fourth quarter ended March 31.

This was 6 per cent higher than the consolidated net profit of ₹449 crore recorded in the third quarter ended December 31, 2020. In the March quarter last year, DLF had reported a net loss of ₹1,860 crore.

Total income for the quarter under review stood at ₹1907 crore, higher than total income of ₹1,668 crore in the previous quarter. In the March quarter last year, the company recorded a total income of ₹1,874 crore.

For the entire fiscal year 2020-21, DLF has recorded a consolidated net profit of ₹1,082 crore against a net loss of ₹590 crore in the previous year.

Demand strong

Meanwhile, a statement issued by the company said the demand in the residential business exhibited a strong comeback in the fiscal.

New sales bookings for the fiscal stood at ₹3 084 crore, reflecting a year-on-year growth of 24 per cent.

“We are enthused with the recovery witnessed in the residential markets and expect this growth cycle to continue in the long run. Given the strong outlook for the residential segment, we continue to embark on this up cycle by scaling our new products offerings across segments and geographies”, the statement added.

DLF also said the outbreak of the pandemic globally and in India is causing significant disturbance and slowdown of economic activity.

Consequent to these uncertainties/ disruptions caused due to continuation of pandemic, the Group has made assessment of impact of this pandemic on its business operations and has made assessment of its liquidity position for the next one year, it added.