DLF Q4 2024 Results: PAT up by 61%, Revenue up by 47% on a YOY basis

Synopsis

Delhi Land & Finance (DLF) announced its quarterly results for the period ending in March 2024 on 13th May after market hours. The company reported a PAT of ₹919.80 cr for Q4 FY2024. Its revenue for Q4 FY2024 increased by 47.03% on a YOY basis reaching ₹2,316.7 cr. PAT margin stood at 39.70% for Q4 FY2024 while the PBT margin was 34.60.

Quarter Result Performance

DLF’s revenue for Q4 FY2024 increased by 47.03% on a YOY basis, reaching ₹2,316.70 cr from ₹1,575.70 cr in Q4 FY2023. The quarterly growth in revenue of the company increased by 40.96%. DLF reported a consolidated PAT of Rs.919.80 cr for Q4 FY2024 from a PAT of ₹569.60 cr in Q4 FY2023, which is a rise of 61.49%. On a quarterly basis, the PAT  increased by 40.28%.

For the full financial year ending in March 2024, the PAT stood at ₹2,723.53 cr compared to ₹2,033.95 cr in FY 2023, up by 33.90%. For FY 2024, its revenue stood at ₹6,958.34 cr compared to ₹6,012.14 cr in FY 2023, up by 15.73%. EBITDA for Q4 FY2024 was ₹936 cr for Q4 FY2024. For FY2024, it was ₹2655 cr.

During the financial year, DLF witnessed a sales booking of Rs 14,778 cr. In FY2025, it is likely to reach ₹36000 cr as the company plans to launch 11 msf of new products. It will so be targeting markets like Mumbai, Gurugram, Goa and Chandigarh Tri-city. It has also announced a Rs 5 per share dividend, which 25% increase compared to FY2023.

Additionally, DLF has announced the appointment of Ashok Kumar Tyagi as Chief Financial Officer (CFO) of the company, who has also been holding the Managing Director position.

An official company statement from DLF stated, “Our office business continued to deliver a healthy performance during the period. The retail segment too continues to deliver strong growth. FY24 consolidated revenue of DLF Cyber City Developers Limited (“DCCDL”) stood at Rs 5,903 crore, reflecting y-o-y growth of 9%; consolidated profit for the quarter stood at Rs 1,690 crore, a y-o-y growth of 18%. Cash flow from operations stood at Rs 2,726 crore for the fiscal. Occupancy levels across our Non-SEZ portfolio remain healthy at 97% and we expect a steady recovery across the SEZ segment over the next few quarters given the announcement on floor-wise denotification.”

“Our retail business exhibited 18% y-o-y growth during the period. We continue to remain enthused about the strong potential of our retail business and consequently are investing to further grow our retail offerings across multiple geographies.”

About DLF

DLF Limited, standing for Delhi Land & Finance, is a premier commercial real estate development company in India, established by Ch. Raghvendra Singh in 1946. It has developed various iconic residential colonies in Delhi such as Model Town, Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash, and many more. Over the years, DLF has expanded its expertise beyond residential projects to include offices, shopping malls, hotels, and golf courses and more. The company has developed 158+ real estate projects in 340 msf+ area.