Realty major DLF's sales bookings increased 66 per cent to Rs 7,094 crore in the first half of this fiscal on strong housing demand. Its sales bookings stood at Rs 4,268 crore in the year-ago period.
The company has been able to achieve growth in sales bookings during the April-September period of this fiscal because of the robust performance in the first quarter. DLF's sales bookings jumped over three-fold to around Rs 6,400 crore during the first quarter of this fiscal from Rs 2,040 crore in the year-ago period.
However, in the second quarter of 2024-25, the sales bookings fell 69 per cent to Rs 692 crore from Rs 2,228 crore a year ago.
In an investor presentation, DLF pointed out that there has been a "moderation in sales on account of delay in receiving requisite approvals for new product launches".
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In the current quarter, the company has received approval for its super-luxury housing project 'The Dahlias' at DLF 5, Gurugram.
"We remain on track to meet our guidance for the full fiscal," DLF said.The company has given guidance to sell properties worth Rs 17,000 crore in the full fiscal.
DLF noted that the outlook for the residential segment continues to be strong, and its housing business continues to exhibit steady performance.
DLF is the country's largest real estate firm in market capitalisation. The company is primarily engaged in the business of development and the sale of residential properties (Development Business) and the development and leasing of commercial and retail properties (annuity business).
On Friday, DLF reported a more than two-fold jump in its consolidated net profit to Rs 1,381.08 crore for the second quarter of this fiscal on higher income.
Its net profit stood at Rs 622.78 crore in the year-ago period. The total income rose 48 per cent to Rs 2,180.83 crore during the July-September period of 2024-25 from Rs 1,476.42 crore in the year-ago quarter.
During the first six months of this fiscal, the company's net profit increased sharply to Rs 2,026.69 crore from Rs 1,149.78 crore in the year-ago period. Its total income grew to Rs 3,910.65 crore during the April-September period of this fiscal from Rs 2,998.13 crore in the corresponding period of the preceding financial year.
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DLF has developed more than 178 real estate projects and developed an area in excess of 349 million square feet. It has 220 million square feet of development potential across residential and commercial segments. The group has an annuity portfolio of over 44 million square feet.