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Realty giant DLF reported a 45% increase in new sales bookings to Rs 6,599 crore during the nine months (April to December) of the financial year 2022.
While DLF reported the highest quarterly new sales in its history in the third quarter of the current financial year. Across all sectors, the company experienced strong business momentum.
DLF’s residential business delivered a strong performance and one of the highest quarterly net sales bookings of 2,507 crore, representing a 24% yearly growth.
In addition, the company’s consolidated revenue in quarter 3 of the financial year 2022 was Rs. 1,560 crore, and the total gross margin was around 59%.
DLF stated, “The Grove at DLF Phase 5, Gurugram, our luxury offering, is completely sold out, reaffirming demand for quality offerings in established locations. This product’s sales bookings sum up 1,570 crore during the quarter.”
“The second phase of our recently launched product, the Valley Gardens in Panchkula, resonated customer confidence in our product offerings in that geography, clocking in sales bookings of 540 crores during the quarter,” the company said.
Furthermore, DLF stated that the office portfolio is gradually recovering. At the same time, strong momentum in the retail industry continues.
DLF Cyber City Developers earned a rental income of 1,003 crore, a 15% increase year on year. The consolidated revenue was 1,363 crore, up 16% year on year.
Furthermore, DLF is working on deleveraging further and has reduced its net debt to 2,091 crore at the end of the quarter.
DLF stated that it remains optimistic about the housing industry’s inherent growth potential, which is supported by a resilient economy.
Across the board, the company remains committed to developing customer-centric products that offer a distinct living experience with best-in-class amenities.
Source-ET
