DLF Announces Annual Results for FY13

DLF Announces Annual Results for FY13

By SiliconIndia   |   Friday, May 31, 2013   |    1 Comments
printer Print email Email
New Delhi, 30th May, 2013: DLF Limited, recorded consolidated revenues of Rs 9,096 crore for the financial year ended 31st March 2013, down by 11% from Rs 10,224 crore in previous financial year. EBIDTA stood at Rs 3,948 crore, reflecting a decrease of 12% from Rs 4,499 crore. Net profit stood at Rs 712 crore, as compared to Rs 1,201 crore in FY12. The EPS for the year stood at Rs 4.19 versus Rs 7.07 in FY12.The Board of Directors was pleased to declare a dividend of Rs 2 per share for the last fiscal.Revenues for Q4 FY13 stood at Rs 2319 crore, an increase of 1% from Rs 2291 crore in Q3FY13. EBIDTA stood at Rs 819 crore, a decline of 23% from Rs 1068 crore. Consolidated Loss was at Rs 4 crore. Despite the challenging economic environment and difficult conditions, the Company discharged all its obligations and commitments to all the stakeholders. The Company continued to add substantial value to the existing development potential by focusing on infrastructure development. Regardless of the weak economic environment, the Company continues to deliver on its commitments and achieve the expected volumes and sustainable EBITDA levels. The revision in the accounting guidance note on Real Estate issued by ICAI adversely impacted the recognition of revenues on the new projects launched during FY 13 and as a result reduced profits. The adoption of new Guidance Note envisages that the revenue can be recognized after reaching certain milestones, particularly incurring 25% of budgeted project cost (excluding cost of land). Had the new accounting norms not been adopted, the Company's revenues would have been higher by Rs 750 crore approximately while EBITDA would have been higher by Rs 400 crore approximately.The Company envisages an uncertain and lower growth environment and hence plans to move to a risk mitigated, steady state business environment by adopting a cautions and conservative approach. With the successful completion of IPP and anticipated closure of the residual divestment of non-core assets, the Company expects its net debt to come down in the current fiscal, said Mr Ashok Tyagi, Group CFO.The Company expects to double its EBITDA and reduce its debt by 50% over the next three years. The Company expects to become free cash positive by FY15, he added. Source by : DLF Limited
Write your comment now
 
Reader's comments(1)
1: Due to loss faced by DLF it has even sold it's 32 acre land to suvarnabhoomi developers in hyderbad for 650 cr.
Posted by:sandeep - 31 May, 2013

New Launch Projects

Follow SiliconIndia :

Looking for property to buy????
Let us know your property requirement:
Name
Contact No
Email id
Requirement
 
We will help you find the right property