During 3rd quarter, DLF Ltd flourished with Rs. 381.50 crores net profit. Its Q3 ended on December, marking increased demand in the housing sector. Stay in this blog to know more about this entity!
How Much Revenue Did DLF Generate?
In Q3 ended December 2020, DLF has made Rs. 450.10 crores profit amidst lockdowns. This company’s consolidated revenue amounted to Rs. 1687 crores. The stability in the housing segment is bringing forth a stellar business performance.
DLF has reflected 97% Y-o-Y growth with new sales worth Rs. 2,018 crores during the quarter. Having cumulative sales booking amounting to Rs. 4,544 crores for a 9-month duration, this sector has been experiencing a strong rebound.
What Are the USPs of DLF?
In the hub of Delhi, this entity came up with a luxury housing project named ONE Midtown. This inventory’s phase –I was successfully absorbed, demonstrating an impressive response. Despite rising prices, their super-luxury sector, ‘The Camellias’ has been enticing customers.
This Q3 records new sales worth Rs. 580 crores, establishing a high demand for quality services in posh areas. There has been a continuous demand for independent floors throughout Gurugram. Such a scenario is encouraging DLF to plan new launches and grow their portfolio. DCCDL REIT is about to be ready.
They aim to build a sustainable and resilient ecosystem throughout their businesses. This company was included under the ‘Emerging markets’ group of DJSI index for two consecutive years. It is India’s only real estate entity to be added to this recognised index.
Are the Other Sectors of DLF Recovering?
The office business of DLF continues to recover with the growth of digital transformation and digitization and vigorous hiring policies for ITeS/IT firms. However, COVID-19 upturn can delay the recovery process.
All their malls have been operational with specified restrictions. Their retail business is showcasing improved consumption pattern. India’s attractiveness and business fundamentals of DLF sustain their service market.
The residential sector exhibits growth in demand, indicating a promising future for DLF. It will continue to expand its business across geographies and segments. Rising volumes coupled with price growth will scale up their portfolio.
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Source: Economic Times
Frequently Asked Questions
Who is the founder of DLF?
Chaudhary Raghvendra Singh founded DLF in 1946. Initially, this company had created twenty-two urban colonies in the capital city of Delhi.
Who is the Vice Chairman of DLF?
Mr. Rajiv Singh is the Vice Chairman of DLF, having 35 years of experience in real estate segment. He is a mechanical engineer, setting benchmarks in urban development, infrastructure and housing.
What has been the growth rate of DLF’s annuity business?
The annuity business of DLF was worth Rs. 29,000 million during 2019. It was Rs. 15.5 million during 2007. Vice Chairman, Mr. Rajiv Singh, has driven this overwhelming growth.
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