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DLF sales bookings up 21% at Rs 2,156 cr in April-Dec 2019

DLF sales bookings up 21% at Rs 2,156 cr in April-Dec 2019

Realty major DLF’s net sales bookings rose 21 per cent to Rs 2,156 crore during April-December, 2019-20 on better demand for its completed inventory. Its sales bookings stood at Rs 1,788 crore in the year-ago period.

According to its investor presentation, DLF’s sales bookings stood at Rs 731 crore in the third quarter of this fiscal as against Rs 563 crore in the corresponding period of the previous year.

The company said it is confident of achieving the sales target of Rs 2,700 crore for the entire 2019-20 financial year. During 2018-19, DLF clocked sales bookings of Rs 2,435 crore.

It said the company would continue to focus on faster monetisation of unsold completed housing stocks worth Rs 9,415 crore. The demand for luxury segment remained subdued.

“Entering into the new cycle of development for replenishment of completed inventory at select marquee locations. Planned new projects of around 21 million sq ft,” the presentation said.

On debt, DLF said its net debt stood at Rs 4,866 crore at the end of the third quarter. “The company expects to exit the current year (fiscal) with around similar level of debt,” it added.

Earlier this week, DLF reported 24 per cent increase in consolidated net profit at Rs 414.01 crore for the quarter ended December despite fall in income.

Its net profit stood at Rs 335.15 crore in the year-ago period. Total income fell 36 per cent to Rs 1,533.34 crore in the third quarter of 2019-20 from Rs 2,405.89 crore in the corresponding period previous year.

Source

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Axiom Landbase

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