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DLF Ltd has sold properties worth INR 79,885 crore across its projects, but only INR 24,460 crore has been recognised as revenue till the December quarter, leaving INR 55,425 crore yet to be accounted for. The company mainly develops residential projects in Delhi-NCR, Mumbai, and the Tri-city region, taking advances from customers before revenue recognition. While sales bookings declined 16% to INR 16,176 crore in the first nine months due to lower new home supply, DLF reported a 14% rise in quarterly net profit and continues to hold strong development and leasing potential across residential and commercial segments.
DLF Ltd, one of India's largest real estate companies by market capitalisation, has yet to recognise over INR 55,000 crore in revenue from total property sales booked till the December quarter of this fiscal. In its latest investor presentation, the company noted that it has sold properties, mainly residential units, worth INR 79,885 crore across existing projects. Advertisement
Of this, revenue of INR 24,460 crore has already been recognised, leaving a balance of INR 55,425 crore yet to be accounted for. DLF primarily develops residential projects in Delhi-NCR, Mumbai, and the Tri-city region, which includes Chandigarh. In line with industry practice, developers collect advances from buyers at the time of sales booking, and revenue is recognised either on project completion or through the percentage of completion method.
DLF reported a 16% decline in sales bookings during the first nine months of this fiscal, amounting to INR 16,176 crore, compared with INR 19,187 crore in the same period last year. The decline is attributed to lower supply of new homes. Despite this, the company has projected total sales bookings for the fiscal in the range of INR 20,000-22,000 crore.
In the previous financial year, DLF recorded its highest-ever sales bookings of INR 21,223 crore, driven by the successful launch of its ultra-luxury residential project Dahlias on Golf Course Road, Gurugram.
On the earnings front, DLF posted a 14% increase in consolidated net profit during the October-December quarter to INR 1,203.36 crore, up from INR 1,058.73 crore in the year-ago period. Total income rose to INR 2,479.54 crore during the quarter, compared with INR 1,737.47 crore previously. For the first nine months of this fiscal, net profit grew to INR 3,146.12 crore from INR 3,084.62 crore, while total income increased to INR 7,722.22 crore from INR 5,648.12 crore over the same period last year.
For the entire 2024-25 fiscal, DLF's net profit stood at INR 4,366.82 crore on a total income of INR 8,995.89 crore. The group operates primarily in two segments: the Development Business, focused on residential projects, and the Annuity Business, which involves development and leasing of commercial and retail properties.
DLF has completed over 185 real estate projects, covering more than 352 million sq ft, and still holds 280 million sq ft of development potential across residential and commercial segments. Its annuity portfolio spans over 49 million sq ft, providing a steady income stream alongside its development operations.
Source PTI
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