India's leading real estate developer DLF exhibited sustained growth across all operational parameters during the period, with its net profit hitting ₹766 crore, reflecting Y-o-Y growth of 19%. The NCR-based developer's consolidated revenue stood at ₹2,981 crore, while EBITDA stood at ₹628 crore.

DLF's subsidiary DLF Cyber City Developers' (“DCCDL”) consolidated revenue stood at ₹1,739 crore, with EBITDA at ₹1,356 crore, reflecting a y-o-y growth of 14%. The company's consolidated profit stood at ₹593 crore in Q1 FY25, a y-o-y growth of 26%.

New sales bookings for the first quarter stood at ₹11,425 crore, reflecting a year-on-year growth of 78%. "Encouraging response to our latest luxury launch - DLF Privana North, reaffirmed sustained demand for high-quality developments backed by a strong brand and superior execution capabilities. Our disciplined capital management led to further strengthening of our balance sheet," DLF said in a statement.

The company says its business continues to generate a cash surplus, leading to an improvement in its net cash position. The net cash position improved to ₹7,980 crore at the end of the quarter. "The underlying business performance continues to exhibit strong growth and lays out a strong foundation & clear visibility of future earnings, profitability and cash flows; however, reported figures will reflect these trends over time due to prescribed accounting methodology," says DLF.

In its outlook for the coming quarters, DLF says it remains enthused about the prospects of the housing demand, backed by a "resilient economy, growth-oriented policies of the government & central bank, increasing desire for home ownership, and strong preference towards large, credible and branded players". "We stay focused on leveraging these tailwinds to offer high-quality products. Our annuity business remains steadfast towards its growth trajectory and delivered another period of steady and consistent growth."

DLF believes there continues to be strong demand for its portfolio, leading to healthy occupancy levels at 94%. "We commissioned an additional block of 1.1 msf at DLF Downtown during the quarter, cementing our presence in the growing commercial market of Chennai," says DLF.

The company says it remains focused on the swift execution of its upcoming retail destinations, which should further enhance the offerings of our well-established annuity portfolio. "Our business is well poised to leverage this structural upcycle backed by a significant land bank having high embedded potential, a robust pipeline of new products across both development and rental business, strong balance sheet and consistent cash flow generation. We remain committed to delivering consistent and profitable growth."

Shares of DLF closed 2.51% up at ₹796.65 on the BSE today.