DLF Surges in Sales despite Dip in Profit: Mumbai Project Shines

On Thursday, real estate leader DLF announced a 15% decline in consolidated net profit for the second quarter of the fiscal year, amounting to Rs 1,180.09 crore. This decrease comes as sales bookings saw a dramatic increase, surpassing six times last year's figures to reach Rs 4,332 crore, largely driven by burgeoning demand for DLF's newly launched project, The Westpark, in Mumbai.

Although the net profit for the same period last year stood at Rs 1,381.22 crore, DLF's revenue from operations noted a downturn to Rs 1,643.04 crore from Rs 1,975.02 crore a year prior. Nevertheless, the company's total income increased slightly to Rs 2,261.80 crore, primarily due to an uptick in other income streams.

DLF remains dominant in India's real estate market, capitalising on high-quality land and continued demand for luxury housing. Despite significant dividend payouts and debt reduction, DLF maintains a strong net cash position. The firm also bolstered its annuity business by adding new assets, boosting its operational portfolio significantly.