New Delhi: Real estate major DLF has reported a 68 percent rise in its consolidated net profit at Rs 410 crore for the quarter ended March.
Consolidated revenue for the period rose to Rs 2,661 crore while earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs 694 crore.
The company has declared a dividend of Rs 2 per share for the year ended March, it said in a statement.
DLF’s consolidated revenue at the end of the financial year 2018-19 rose 18 percent to Rs 9,029 crore while net profit stood at Rs 1,316 crore.
It achieved net sales of Rs 2,435 crore during FY 19 compared to Rs 1,000 crore a year ago. DLF completed projects spread over 6.3 million square feet and leased 1.54 million square feet through its rental arm DLF Cyber City Developers Limited (DCCDL).
“DLF successfully completed the qualified institutional placement of Rs 3,173 crore of equity and coupled with the infusion of Rs 11,250 crore by the promoters, it has completely transformed its balance sheet,” it said.
“With the debt overhang behind us and completion of all legacy projects, DLF will now work with an enhanced focus on generating free cash flow through monetization of our ready-to-occupy inventory.”
The company is now entering into the next wave of asset build-out at certain select marquee locations in both residential and commercial segments, which will enable substantial return on equity growth, it said.