Real estate firm DLF’s net profit down by 18%
The slowdown in the Indian realty sector has been reflected in the books of DLF, the largest player in the segment.
The net profit of DLF, India’s largest real estate company, fell 18 per cent to Rs 292 crore for the quarter ended June. The dip is quite huge compared to Rs 358 crore for the corresponding period last year.
Net sales fell 10 per cent to Rs 2,197 crore, compared with Rs 2,447 crore in the previous year’s period. The company sold 1.34 million sq ft in the quarter ended June, compared with 2.3 million sq ft in the corresponding quarter last year.
The amount of activity has been low. DLF did not launch any major project during the quarter. The debt situation is not too encouraging, too. As on March 31, DLF’s debt stood at Rs 22,725 crore.
The company has already disinvested sizable non-core assets during the quarter.
Debt, DLF Group, Indian real estate, Indian real estate sector, profit loss, profits, Real Estate Companies, Real estate in India, Real Estate India, Real Estate Sector, Realty firms, Realty News, Realty sector, shares dip, slowdown in the Indian realty sector
[...] Real estate firm DLF’s net profit down by 18% [...]
[...] Real estate firm DLF’s net profit down by 18% [...]
[...] Real estate firm DLF’s net profit down by 18% [...]
[...] Real estate firm DLF’s net profit down by 18% [...]
[...] Real estate firm DLF’s net profit down by 18% [...]
[...] Real estate firm DLF’s net profit down by 18% [...]