In a notable boost to India’s real estate sector, leading property developer DLF has reported a significant 66% surge in its sales bookings, reaching ₹7,094 crore in the first half of the fiscal year 2024-25. This rise, attributed to robust housing demand, surpasses the ₹4,268 crore recorded in the same period last year. The company’s impressive performance during the April to September period stems primarily from an exceptional first-quarter performance, with sales bookings increasing more than threefold to approximately ₹6,400 crore, up from ₹2,040 crore a year earlier.
Q2 Sales Moderation Due to Approval Delays for New Projects
However, the second quarter of FY24-25 experienced a 69% decline in sales bookings, totalling ₹692 crore compared to ₹2,228 crore in the corresponding quarter of the previous fiscal year. DLF attributed this drop to a “moderation in sales on account of delays in receiving requisite approvals for new product launches,” as highlighted in an investor presentation. Despite this, DLF recently secured the necessary clearance for its super-luxury project, ‘The Dahlias,’ located in DLF 5, Gurugram.
DLF Expects to Meet ₹17,000 Crore Annual Sales Guidance
DLF has reaffirmed its confidence in meeting its annual sales guidance of ₹17,000 crore, citing a steady outlook in the residential sector. The company anticipates continued strong performance in its housing segment, which has shown resilience amidst market fluctuations. “We remain on track to meet our guidance for the full fiscal,” DLF stated.
Sharp Increase in Net Profit and Income in Q2 FY24-25
On the financial front, DLF reported a consolidated net profit of ₹1,381.08 crore for the second quarter, a more than twofold increase over last year’s ₹622.78 crore. The company’s total income also saw a considerable 48% increase, amounting to ₹2,180.83 crore for Q2, up from ₹1,476.42 crore in the prior-year quarter. For the first six months of FY24-25, DLF’s net profit surged to ₹2,026.69 crore from ₹1,149.78 crore in the corresponding period of the previous fiscal year, while total income rose to ₹3,910.65 crore, up from ₹2,998.13 crore.
DLF’s Expanding Portfolio: Over 349 Million Sq. Ft. Developed
As India’s largest real estate developer by market capitalisation, DLF has developed over 178 projects, covering more than 349 million square feet, with a pipeline of 220 million square feet in residential and commercial segments. Additionally, DLF’s annuity portfolio stands at over 44 million square feet, further strengthening its position within the industry.
