DLF Ltd Sales Bookings More Than Double to Rs 15,757 Crore on Strong Luxury Housing Demand

DLF Ltd, a leading real estate developer, has announced robust sales bookings of Rs 15,757 crore for the first half of the current fiscal year (April-September), a substantial increase from Rs 7,094 crore recorded in the same period last year. This impressive growth is largely attributed to strong customer interest in DLF's luxury housing projects located in Gurugram and Mumbai, including the successful launch of 'The Westpark' in Mumbai.

While the company's net profit for the second quarter (July-September) saw a 15% decline to Rs 1,180.09 crore from Rs 1,381.22 crore in the prior year, and revenue from operations fell to Rs 1,643.04 crore from Rs 1,975.02 crore, the overall sales momentum remains positive. New sales bookings in the second quarter alone reached Rs 4,332 crore.

DLF has reaffirmed its sales booking guidance for the full fiscal year, expecting it to be between Rs 20,000-22,000 crore, following a record Rs 21,223 crore achieved in the previous fiscal year. The company believes India's housing sector is benefiting from a resilient economy, a growing desire for home ownership, and an increasing preference for branded and credible developers.

Impact This news indicates strong underlying demand in the Indian real estate market, particularly in the luxury segment, suggesting potential for sustained growth. It positively impacts investor sentiment towards the real estate sector and associated businesses. Rating: 8/10

Difficult Terms Sales bookings: The total value of property sales agreed upon by customers, often through initial payments or agreements, before the final transaction is completed. This is a key indicator of future revenue. Fiscal year: A 12-month period used for accounting and financial reporting, which may not necessarily coincide with the calendar year (January-December). For this company, it runs from April to March. Consolidated net profit: The total profit of a company after deducting all expenses, taxes, and minority interests, including profits from all its subsidiaries. Revenue from operations: The income generated from the company's primary business activities, excluding other income sources. Annuity business: A business model where a company generates recurring revenue over a long period, typically through leasing properties, rather than one-off sales.