Real estate major DLF on Monday reported a consolidated net profit of Rs 338.71 crore for the quarter ended June 30, 2021.
It had reported a net loss of Rs 72.59 crore during the corresponding period of the previous fiscal.
The company reported a consolidated revenue growth of 92 per cent on a YoY basis to Rs 1,243 crore.
The company's board has recommended a dividend of Rs 2 per share.
DLF said that new sales bookings exhibited a sustained performance sequentially and stood at Rs 1,014 crore, reflecting a YoY growth of 567 per cent.
Furthermore, the real estate major said it continues to focus on improving collections amidst tight cost control measures which have led to surplus cash generation of Rs 141 crore during the quarter.
Consequently, the company's net debt stood at Rs 4,745 crore.
"We are witnessing encouraging demand in the residential business. Since the pandemic, the inherent demand for homes has gone up, it has reaffirmed that home is the safest place and is an important asset class for most families," it said in a statement.
"The launch of 'Independent Floors' across Gurgaon continues to garner an enthusiastic response from the market and exhibited healthy absorption trends. We clocked new products sales booking of Rs 542 crore during the quarter. The luxury segment remains attractive, with Camellias witnessing sustained demand despite the resurgence of the pandemic."
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