DLF Ltd posted a consolidated revenue of Rs 1516 Crores.
DLF Ltd’s consolidated revenue in the first quarter of the fiscal year was Rs 1516 crores, a 22% increase year on year. Gross margins continue to operate in the 50% plus range. The Q1 23 margin stood at 53%. EBITDA stood at Rs. 488 crores. There is a drop in this quarter due to the scaling up phase and investing in the growth of the company. The increase in staff costs is driven by organisation scale up, and other expenses are driven by business scale up costs of marketing and brokerage Reflecting a 39% increase year on year. This was largely driven by a significant reduction in the financing costs, along with growth in the JV profits.
Demand continues to exhibit sustained momentum.
The high demand for luxury homes has been a key trend that is expected to continue. In addition, the residential business maintains its consistent performance, with new sales bookings of Rs 2040 crores, representing a 101% year-on-year increase. The Camellias company’s luxury product offering remained the preferred destination across the super luxury segment and delivered a healthy sales booking of Rs 350 crores during the quarter. The company’s new product remains to continue contributing to the sale of Rs 1532 crores during the quarter, which was approximately 75%.
DLF Cyber City Developers Limited consolidated results for Q1 Financial Year ’23.company witnessed steady performance across the portfolio. The retail business continued its growth path and delivered healthy growth. Rental income grew by 20% year-on-year, driven by a strong growth in retail revenue. Consolidated revenue of Rs. 1,260 crores as compared to Rs. 1,041 crores last year, reflecting a21% year-on-year growth. EBITDA at Rs.961 crores, reflecting a year-on-year growth of 18%, and net profit at Rs.323 crores, reflecting a year-on-year growth of 60%
Retail businesses continue to exhibit steady growth with an improvement in consumption trends. Organized retail is expected to gain further share with a strong preference for quality assets at established locations. Given these tailwinds, company remain committed to growing the portfolio across multiple geographies and retail presence in the next few years. Companys strong balance sheet and healthy cash flow generation, coupled with a diversified pipeline of quality offerings, provide a unique opportunity to leverage this up cycle.
The EPS was Rs. 1.90, compared to Rs. 1.36 in June 2021. The ROCE and ROE were at 4.84% and 4.61%, respectively. The stock was trading at a P/E ratio of 54.3x. The company’s asset turnover ratio was 0.11x. The scrip is trading at Rs.395, up by 2.61% on Tuesday.