New Delhi, India’s largest realty firm DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to 920.71 crore in the quarter ended March on higher income amid strong housing sales.

DLF net profit up 62 pc in Q4 to 921 cr; FY’24 profit up 34pc to 2727cr

Its net profit stood at 570.01 crore in the year-ago period.

Unlock exclusive access to the latest news on India’s general elections, only on the HT App. Download Now! Download Now!

Total income rose to 2,316.70 crore in the fourth quarter of 2023-24 from 1,575.70 crore in the corresponding period of the previous year, according to a regulatory filing.

During 2023-24, the company’s net profit increased 34 per cent to 2,727.09 crore from 2,035.83 crore in the preceding year.

Total income grew to 6,958.34 crore during the last fiscal from 6,012.14 crore in the 2022-23 financial year.

DLF, the country’s largest real estate firm in terms of market capitalisation, also announced a dividend of 5 each per equity share of face value of 2 each for the 2023-24 fiscal, subject to approval of the shareholders.

“Subsequent to the quarter, Ashok Kumar Tyagi has been appointed as Chief Financial Officer of the company in addition to his existing position as Managing Director. His appointment has been approved by the Board of Directors in their meeting held on May 13, 2024,” the filing said.

“No separate remuneration is proposed to be paid for his additional role as the CFO of the company. Tyagi will continue to hold the additional responsibility until a new CFO is appointed,” it added.

DLF Ltd has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of future development potential across residential and commercial segments.

DLF group is primarily engaged in the business of the development and sale of residential properties and the development and leasing of commercial and retail properties . It has an annuity portfolio of over 42 million square feet with an annual rental income of around 4,000 crore.

This article was generated from an automated news agency feed without modifications to text.

Source link