India's largest real estate firm DLF today reported 56 per cent increase in its consolidated net profit at Rs 172.77 crore for the first quarter of this fiscal.
Its net profit stood at Rs 110.70 crore in the year-ago period, the company said in a regulatory filing.
Total income, however, declined to Rs 1657.67 crore during April-June period of this fiscal from Rs 2,211.24 crore in the corresponding period of the previous year.
DLF's net profit increased despite drop in total income as the company earned Rs 241.50 crore as its share of profit in associates and joint ventures.
The company has a joint venture with Singapore's sovereign wealth firm GIC for commercial real estate business. In the JV firm DLF Cyber City Developers Ltd (DCCDL), DLF owns 66.67 per cent stake, while GIC has the rest.
GIC bought stake in DCCDL for Rs 9,000 crore in December last year.
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