Realty major DLF on Tuesday reported a 15.1 percent year-on-year (YoY) decline in consolidated net profit at Rs 405.33 crore for the fourth quarter ended March 31, 2022.
In the corresponding quarter last year, the company posted a net profit of Rs 480.94 crore. Total income stood at Rs 1,652.13 crore during the period under review, against Rs 1,906.59 crore in the corresponding period of the preceding fiscal.
Total income rose to Rs 6,137.85 crore in 2021-22 from Rs 5,944.89 crore in the previous year. Net profit rose to Rs 1,500.86 crore during the last financial year from Rs 1,093.61 crore in the 2020-21 fiscal year.
The EBITDA stood at Rs 472 crore, reflecting a YoY decrease of 23 percent due to lower other income as compared to the corresponding period. For FY22, the EBITDA stood at Rs 2,163 crore, showing a YoY increase of 11 percent, and margins improved by 200 bps.
Housing demand continues to exhibit a structural upswing across segments and geographies, it said. "Residential business exhibited a record performance in the fiscal. We witnessed strong growth across all our segments with luxury segment leading this trend," the statement said.
DLF's super luxury offering The Camellias, continues to evince strong customer interest and delivered healthy sales bookings of Rs 2,550 crore during the fiscal. New products sales bookings stood at Rs 4,683 crore during the fiscal. "We continue to place enhanced focus on surplus cash generation from our operations," DLF said. "Strong collections along with sales ramp-up led to one of the highest levels of surplus cash generation of Rs 2,205 crore during the fiscal," DLF said.
Sustained momentum and strong tailwinds are expected to support the structural upswing in housing demand over the medium term, the company said. "We continue to strive in scaling up our new product offerings across segments and geographies," DLF said.
DLF Cyber City Developers Ltd (DCCDL) said the rental business continues its steady path to recovery. "Office occupancy is gradually recovering and stood at 88% at the fiscal end," DLF said Retail business continued a strong rebound during the fiscal, it added. "Rental income grew 10 percent YoY; supported by 67 percent rebound in retail income," DLF said.
The Board recommended a dividend of Rs 3 per share subject to the approval of shareholders; 150 percent as compared to last year. The results came after the close of the market hours. Shares of DLF ended at Rs 334.15, up by Rs 6.75, or 2.06 percent on the BSE.
First Published: IST