DLF posts Rs 481 cr profit in Q4; names Ashok Tyagi, Devinder Singh as CEOs

Realty major DLF on Friday reported a consolidated net profit of Rs 480.94 crore for the quarter ended March.

It also appointed Ashok Tyagi and Devinder Singh as the new CEOs of the company.

DLF had posted a net loss of Rs 1,857.76 crore in the year-ago period.

Total income rose to Rs 1,906.59 crore in the fourth quarter of 2020-21 from Rs 1,873.80 crore earlier, according to a regulatory filing.

For the entire 2020-21 financial year, DLF posted a net profit of Rs 1,093.61 crore as against a net loss of Rs 583.19 crore in FY20.

Total income fell to Rs 5,944.89 crore last fiscal from Rs 6,888.14 in the 2019-20 financial year.

DLF's board has entrusted additional responsibilities upon Ashok Kumar Tyagi and Devinder Singh, both of whom are whole-time directors, by re-designating them as chief executive officers and whole-time directors of the company with immediate effect, it said.

The board has also "co-opted Savitri Devi Singh and Anushka Singh as additional directors of the company with immediate effect, subject to the approval of shareholders."

Both Savitri Devi Singh and Anushka Singh are daughters of DLF Chairman Rajiv Singh.