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DLF announces Annual Results for FY14
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siliconindia
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Tuesday, June 3, 2014
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New Delhi : DLF Limited recorded consolidated revenues of 
9,790 crore for the financial year ended 31st March 2014, up by 8% from 9,096 crore in previous financial year. EBIDTA stood at 3,977 crore, reflecting an increase of 1% from 3,948 crore. Net profit stood at 646 crore, as compared to 712 crore in FY13. The EPS for the year stood at 3.65. The Board of Directors was pleased to declare a dividend of 2 per share for the last fiscal. Revenues for Q4 FY14 stood at 2,522 crore, a decline of 3% from 2,590 crore in Q3FY14. EBIDTA stood at 915 crore, a decline of 20% from 1,144 crore. Consolidated PAT was at 220 crore versus 145 crore in the previous period.
For the first time since 1984, the Indian electorate has given a decisive and clear mandate in favour of a single political party. The new Government led by Hon. Prime Minister Shri Narendra Modi has been welcomed by a perceptible improvement in the business sentiment within the country. This is being reflected in the stock market, an early barometer, as well as the exchange rate.
The initial economic policies pronouncements by the new Government are headed in the right direction, namely a lower fiscal deficit, a stable tax regime, unfreezing of the stuck projects, as well as passing of key pending legislations, etc. The government has also indicated that the housing & real estate sector is going to be a key contributor to the revival and acceleration of economic growth through its role of the largest employer and growth multiplier for many downstream sectors. In order to provide the necessary impetus, growth capital will be required. Hence, it is expected that the Government may further liberalize the FDI regime, provide greater access to the sector for cheaper capital for development, tax rationalizations, etc. including introduction of REITs.
The Company expects a strong focus of the Government to kick start economic growth which will, within 24 months, deliver significant improvement in income generation for all segments of the society. Given this scenario, the Company expects an uptick in consumer demand for housing in the 2nd half of the FY15. The Company's diverse portfolio of land bank allows it to participate in Governments efforts to provide housing for all segments of the society in the shortest possible time. With increased economic activity, the Company's leasing business shall also benefit from greater demand in the office and retail businesses.
In the year gone by, due to slowdown in the overall economy, demand for Company's real estate products were severely impacted resulting in moderate sales vis-vis the target as articulated last year. Despite the slowdown, the Company remained and continues to remain committed to its medium term strategy and goal of meeting and exceeding the expectation of all its stakeholders customers, shareholders, banks, suppliers and Government agencies.
The Company has met its target of Non-Core Divestments and Net Debt. The Company is now comfortable with its net debt levels. Going forward, it shall strive not only to maintain the current level of debt but also to improve the quality and cost of debt. The recent successful launch of India's first Commercial Mortgage Backed Security, rated AA (SO) by CRISIL, is an effort in that direction. The Company hopes to do more such issuances in the medium term.
Sources By : DLF Limited
9,790 crore for the financial year ended 31st March 2014, up by 8% from 9,096 crore in previous financial year. EBIDTA stood at 3,977 crore, reflecting an increase of 1% from 3,948 crore. Net profit stood at 646 crore, as compared to 712 crore in FY13. The EPS for the year stood at 3.65. The Board of Directors was pleased to declare a dividend of 2 per share for the last fiscal. Revenues for Q4 FY14 stood at 2,522 crore, a decline of 3% from 2,590 crore in Q3FY14. EBIDTA stood at 915 crore, a decline of 20% from 1,144 crore. Consolidated PAT was at 220 crore versus 145 crore in the previous period.
For the first time since 1984, the Indian electorate has given a decisive and clear mandate in favour of a single political party. The new Government led by Hon. Prime Minister Shri Narendra Modi has been welcomed by a perceptible improvement in the business sentiment within the country. This is being reflected in the stock market, an early barometer, as well as the exchange rate.
The initial economic policies pronouncements by the new Government are headed in the right direction, namely a lower fiscal deficit, a stable tax regime, unfreezing of the stuck projects, as well as passing of key pending legislations, etc. The government has also indicated that the housing & real estate sector is going to be a key contributor to the revival and acceleration of economic growth through its role of the largest employer and growth multiplier for many downstream sectors. In order to provide the necessary impetus, growth capital will be required. Hence, it is expected that the Government may further liberalize the FDI regime, provide greater access to the sector for cheaper capital for development, tax rationalizations, etc. including introduction of REITs.
The Company expects a strong focus of the Government to kick start economic growth which will, within 24 months, deliver significant improvement in income generation for all segments of the society. Given this scenario, the Company expects an uptick in consumer demand for housing in the 2nd half of the FY15. The Company's diverse portfolio of land bank allows it to participate in Governments efforts to provide housing for all segments of the society in the shortest possible time. With increased economic activity, the Company's leasing business shall also benefit from greater demand in the office and retail businesses.
In the year gone by, due to slowdown in the overall economy, demand for Company's real estate products were severely impacted resulting in moderate sales vis-vis the target as articulated last year. Despite the slowdown, the Company remained and continues to remain committed to its medium term strategy and goal of meeting and exceeding the expectation of all its stakeholders customers, shareholders, banks, suppliers and Government agencies.
The Company has met its target of Non-Core Divestments and Net Debt. The Company is now comfortable with its net debt levels. Going forward, it shall strive not only to maintain the current level of debt but also to improve the quality and cost of debt. The recent successful launch of India's first Commercial Mortgage Backed Security, rated AA (SO) by CRISIL, is an effort in that direction. The Company hopes to do more such issuances in the medium term.
Sources By : DLF Limited
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