Shares of the real-estate major surged as much as 1.6% on Tuesday to hit an intraday high of ₹852.35, after the company reported a 16.5% YoY jump in its consolidated net profit to ₹920.71 crore in the March quarter of FY24. The company’s consolidated net profit in the March quarter last year stood at ₹570 crore.

The scrip opened higher at ₹847.25, up 1.15%, as against the previous closing price of ₹838.25. At 12:31 pm, DLF's share price was trading 0.20% higher at ₹839.90. This was in line with the broader BSE Sensex, which was trading 231.74 points higher at 72,994.52. The real estate company’s market capitalisation stood at ₹2,07,901 crore, with more than 1.49 lakh shares exchanging hands on the BSE, as against the two-week average of 1.18 lakh shares. The company hit a 52-week high of ₹967 on April 1, 2024, and a 52-week low of ₹440.25 on May 15 last year.

In the year-to-date period, the counter has given 15.95% in returns.

In the January to March quarter, the realtor's revenue from operations stood at ₹2,134.84 crore, up 46.6%, as against ₹1,456.06 crore in the corresponding period of the previous year. The real estate major's EBITDA (earnings before interest, tax, depreciation and amortisation) stood at ₹1,081 crore in the March quarter, up 7%, as against ₹1,160 crore in the same period last year.

Amongst segments, revenue from office rentals grew 5% year-on-year to ₹905 crore as against ₹859 crore in the March quarter of the previous year.

“Our office business continued to deliver a healthy performance during the period. The retail segment too continues to deliver strong growth. FY24 consolidated revenue of DLF Cyber City Developers Limited (“DCCDL”) stood at ₹5,903 crore, reflecting y-o-y growth of 9%; consolidated profit for the quarter stood at ₹1,690 crore, a y-o-y growth of 18%. Cash flow from operations stood at Rs 2,726 crore for the fiscal,” says the company.

“Our retail business exhibited 18% y-o-y growth during the period. We continue to remain enthused about the strong potential of our retail business and consequently are investing to further grow our retail offerings across multiple geographies,” it adds.

Geographically, the company expects a steady recovery across the SEZ segment over the next few quarters.

Notably, the real estate major expects the demand momentum to stay strong “We remain focused on bringing a calibrated supply across multiple micro markets. We plan to launch more than 11 msf (million sq ft) of new products during FY25 targeting various markets including Gurugram, Mumbai, Goa and Chandigarh Tri-city. The estimated sales potential of these launches is approximately ₹36,000 crore which should lead to steady growth in the business,” says the company. 

The company has announced a dividend of ₹5 per share.

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