DLF earns Rs 6,658 cr from 10 mn sq ft sales in FY11
DLF said it is planning to launch 12 million sq ft of area this fiscal as against 7.5 million sq ft in last financial year.
By PTI | Updated:
NEW DELHI: The country's largest realty firm DLF has sold 10 million square feet area worth Rs 6,658 crore in the housing segment during the last fiscal, lower by 20 per cent than that sold in the previous year.
The company, however, said that the average sales realisation was higher by 14 per cent in 2010-11. "...10 million sq ft sales achieved in FY11 against 12.5 million sq ft in FY10 ... While sales booking in FY11 was marginally lower, average realisation was at Rs 6,500 per sq ft (up 14 per cent from FY10)," the company said in a presentation.
DLF attributed the decline in sales volume to delay in approvals that led to slowdown in planned launches. That apart, it said the "inflation uncertainty resulted in moderation in volumes".
Out of 10 million sq ft, DLF sold four million sq ft in Gurgaon at a value of Rs 2,903 crore. In Delhi and Kolkata, the company sold one million sq ft for Rs 1,495 crore, while the rest of India contributed five million sq ft worth Rs 2,260 crore.
Giving outlook for the current fiscal, DLF said it is planning to launch 12 million sq ft of area this fiscal as against 7.5 million sq ft in last financial year. Out of the planned 12 million sq ft of launch, 10 million sq ft will be plotted development, while the rest will be group housing projects.
"Product mix skewed towards plotted development in order to reduce execution risks and negate inflationary pressures," the presentation said.
DLF also plans to enhance focus on execution of projects and is aiming at a delivery of more than 12 million sq ft this fiscal as against 7 million sq ft in the last financial year.
The company posted 19 per cent fall in consolidated net profit to Rs 344.54 crore for the March quarter as against Rs 426.38 crore in the year-ago period. The consolidated sales during Q4, however, increased by 34.53 per cent to Rs 2,683.09 crore, from Rs 1,994.37 crore in the year-ago period.
For the entire 2010-11, the consolidated net profit went down 4.66 per cent to Rs 1,639.61 crore, from Rs 1,719.84 crore in 2009-10. The consolidated sales in last fiscal rose by 28.80 per cent to Rs 9,560.57 crore, from Rs 7,422.87 crore in 2009-10.
The company, however, said that the average sales realisation was higher by 14 per cent in 2010-11. "...10 million sq ft sales achieved in FY11 against 12.5 million sq ft in FY10 ... While sales booking in FY11 was marginally lower, average realisation was at Rs 6,500 per sq ft (up 14 per cent from FY10)," the company said in a presentation.
DLF attributed the decline in sales volume to delay in approvals that led to slowdown in planned launches. That apart, it said the "inflation uncertainty resulted in moderation in volumes".
Out of 10 million sq ft, DLF sold four million sq ft in Gurgaon at a value of Rs 2,903 crore. In Delhi and Kolkata, the company sold one million sq ft for Rs 1,495 crore, while the rest of India contributed five million sq ft worth Rs 2,260 crore.
Giving outlook for the current fiscal, DLF said it is planning to launch 12 million sq ft of area this fiscal as against 7.5 million sq ft in last financial year. Out of the planned 12 million sq ft of launch, 10 million sq ft will be plotted development, while the rest will be group housing projects.
"Product mix skewed towards plotted development in order to reduce execution risks and negate inflationary pressures," the presentation said.
DLF also plans to enhance focus on execution of projects and is aiming at a delivery of more than 12 million sq ft this fiscal as against 7 million sq ft in the last financial year.
The company posted 19 per cent fall in consolidated net profit to Rs 344.54 crore for the March quarter as against Rs 426.38 crore in the year-ago period. The consolidated sales during Q4, however, increased by 34.53 per cent to Rs 2,683.09 crore, from Rs 1,994.37 crore in the year-ago period.
For the entire 2010-11, the consolidated net profit went down 4.66 per cent to Rs 1,639.61 crore, from Rs 1,719.84 crore in 2009-10. The consolidated sales in last fiscal rose by 28.80 per cent to Rs 9,560.57 crore, from Rs 7,422.87 crore in 2009-10.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
