Explore Business Standard
Realty major DLF Ltd is yet to recognise over Rs 55,000 crore revenue in its financial accounts from the total sales bookings done till December quarter of this fiscal. In its latest investors presentation, DLF Ltd said that the company has sold properties, primarily housing worth Rs 79,885 crore across its existing projects. Till December quarter of this fiscal, the company has recognised revenue of Rs 24,460 crore. The balance revenue to be recognised from sales booked stood at Rs 55,425 crore, the presentation said. DLF is developing residential projects mainly in Delhi-NCR, Mumbai, Tri-city (Chandigarh). In the real estate sector, the developers take advances from customers against sales booked. The revenue gets recognised after the completion of construction of projects or on the basis of percentage of completion method. DLF, the country's largest realty firm in terms of market capitalisation, reported a 16 per cent decline in sales bookings to Rs 16,176 crore in the first
Realty major DLF and GIC joint venture DCCDL's rental income rose 18 per cent to Rs 1,412 crore in the December quarter amid strong demand for premium office and retail spaces. DLF Cyber City Developers Ltd (DCCDL) rental income stood at Rs 1,193 crore in the year-ago period, according to DLF's latest investors presentation. DLF holds nearly 67 per cent stake in DCCDL while Singapore's sovereign wealth fund GIC has the remaining equity shareholding. At present, DCCDL has a total operational portfolio of 44.3 million square feet area, comprising prime office and retail spaces. Around 4 million square feet is retail area and the rest is office spaces. On financial performance front, DCCDL's net profit before exceptional item rose 40 per cent to Rs 717 crore during the third quarter of this fiscal from Rs 514 crore in the year-ago period. Total revenue grew 17 per cent to Rs 1,878 crore from Rs 1,605 crore. Its net debt stood at Rs 16,976 crore at the end of the latest December ...