DLF shares gain 5% despite posting mixed Q3; profit up 63% YoY; rev flat

DLF shares gained 5.2 per cent in trade on Monday, logging an intraday high at Rs 731.4 per share. The buying on the counter sparked despite the company posted mixed Q3 results. 

 

Around 1:07 PM, DLF share price was up 1.88 per cent at Rs 708.15 per share on BSE. In comparison, the BSE Sensex was down 0.98 per cent at 75,443.20. The market capitalisation of the company stood at Rs 1,75,573.86 crore. The 52-week high of the stock was at Rs 967 per share and the 52-week low was at Rs 689.9 per share. 

 

On Friday, after market hours, DLF reported a 61 per cent Y-o-Y increase in its consolidated net profit for the third quarter of the current financial year (Q3FY25) at Rs 1,058.73 crore, up from Rs 655.71 reported in Q3FY24. The company's revenue from operations grew marginally by 0.5 per cent to Rs 1,528.7 crore in Q3FY25 from Rs 1,521.2 crore reported in Q3FY24.

 

On a sequential basis, the Gurugram-based realtor’s net profit fell by 23 per cent and revenue by 22 per cent from Rs 1,381.2 crore and Rs 1,975 crore recorded in Q2FY25, respectively.

 

The net profit growth can be attributed to the company’s performance in development and rental businesses.

 

DLF stated that its development business continued its growth trajectory in the ongoing quarter, after delivering record new sales bookings of Rs 12,093 crore in Q3FY25. 

 

“Our latest super luxury offering, The Dahlias in DLF 5, Gurugram, performed exceptionally well, garnering Rs 11,816 crore of new bookings in the opening quarter,” the company added.

 

The company added that the overwhelming response to its new offering has resulted in the company surpassing its annual guidance.

 

For its rental business, DLF said that development of subsequent phases of Downtown, Chennai, and Downtown, Gurugram, totalling around 11 million square feet (msf) remains on track. “Our ongoing projects, including Atrium Place in Gurugram and three retail malls are expected to be completed soon with rents commencing in the next financial year,” it added.  In the past one year, DLF shares have lost 11.7 per cent against Sensex's rise of 5.9 per cent.