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DLF Net Up By 38% For FY22

The Board recommended a dividend of Rs 3 per share (subject to approval of shareholders). It was a 150 per cent more when compared to last year. DLF said its net debt at the end of fiscal stood at Rs 2,680 crore, a 46 per cent Y-o-Y reduction

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Driven by higher EBITDA margins, India's leading real estate developer DLF reported a 38 per cent increase in its consolidated net profit at Rs 1,513 crore for the financial year 2021-22. The company's consolidated revenue also increased by 3 per cent at Rs 6,138 crore. The EBITDA stood at Rs 2,163 crore, reflecting Y-o-Y increase of 11 per cent whereas the margins improved by 200 bps, the company said in a statement.

For the Q4FY22 (January-March), DLF reported a 5 per cent dip in its consolidated revenue at Rs 1,652 crore compared to same period last year. EBITDA for the fourth quarter stood at Rs 472 crore, reflecting a Y-o-Y decrease of 23 per cent due to lower other income as compared to the corresponding period, the company said. The net profit also slipped by 8 per cent for the fourth quarter at Rs 414 crore compared to the year ago period.

"We witnessed strong growth across all our segments with luxury segment leading this trend. Our Super Luxury offering – The Camellias, continues to evince strong customer interest and delivered healthy sales bookings of Rs 2,550 crore during the fiscal. Our new product launches across New Delhi, Gurugram and Chennai continue to receive encouraging response from the market vindicating demand for quality products in established locations," the statement said.
The continued momentum further demonstrates rising customer preference towards larger and credible brands with proven track record, the company statement added. DLF said its new products sales bookings stood at around Rs 4,683 crore during the fiscal.

The company said it continued to place enhanced focus on surplus cash generation from its operations. "Strong collections along with sales ramp-up led to one of the highest levels of surplus cash generation of Rs 2,205 crore during the fiscal. In-line with our business goal of de-risking our balance sheet, we continue to deleverage and consequently our Net Debt at the end of fiscal stood at Rs 2,680 crore, a 46 per cent Y-o-Y reduction," it added.

DLF said it was hopeful as sustained momentum and strong tailwinds were expected to support the structural upswing in housing demand over the medium term. "Consequently, we continue to strive in scaling up our new product offerings across segments and geographies," it said.
Rental income for DLF grew 10 per cent Y-o-Y supported by 67 per cent rebound in retail income. There was a 3 per cent increase in the consolidated revenue at Rs 4,533 crore as compared to Rs 4,385 crore last year. EBITDA stood at Rs 3,488 crore as compared to Rs 3,417 crore last year, Y-o-Y growth of 2 per cent. With a net at Rs 1,002 crore, the rental business saw a 10 per cent Y-o-Y growth. The office business also delivered strong collections at 100 per cent, the company said.

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