DLF's Q1 Consolidated Net Profit Up Over 140%

DLF's Q1 Consolidated Net Profit Up Over 140%

Real estate major DLF has reported a rise of more than 140 per cent in its consolidated net profit for the quarter ended June 30, 2019.

Accordingly, the company's net profit rose to Rs 413.94 crore from Rs 172.44 crore reported for the corresponding quarter of last fiscal.

However, the company's consolidated revenues from operations decreased to Rs 1,331.19 crore for the quarter ended June 30, 2019 from Rs 1,507.35 crore in Q1 FY19. 

"The promoters infused the last tranche of funds amounting to Rs 2,250 crore into the company in the last quarter. With a total infusion of Rs 11,250 crore, this is one of the largest infusion by promoters in an Indian company. DLF has now successfully completed the entire process of transformation of its balance sheet," the company said in a statement.

"With a strong balance sheet and completion of all legacy projects, the company will now work to monetise its completed inventory with enhanced focus on one hand and create the future pipeline of projects to fuel growth on the other."

The company added that on the anvil are plans to develop 17 msf of space in commercial and residential segments. 

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Source: IANS