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Revenue from operations grew 46.62% year on year (YoY) to Rs 2,134.81 crore in the quarter ended 31 March 2024. Profit before tax in fourth quarter of FY24 stood at Rs 801.59 crore, registering a growth of 101.71% from Rs 397.39 posted in Q4 FY23. During Q4 FY24, EBITDA grew 81% to Rs 936 crore during the period under review. EBITDA margin improved to 40% in Q4 FY24 as compared to 33% recorded in the corresponding quarter previous year. The company generated healthy surplus cash of Rs 1,105 crore from operations in fourth quarter of FY 2023-24. On full year basis, the company's consolidated net profit rose 33.95% to Rs 2,727.09 crore on 12.86% rise in revenue from operations to Rs 6,427 crore in FY24 over FY23. DLF said: ?Our development business continues to witness strong momentum and consequently recorded healthy sales booking of Rs 14,778 crore during the year. The demand momentum in the residential segment is expected to stay strong and consequently we remain focused on bringing a calibrated supply across multiple micro markets. We plan to launch more than 11 msf of new products during FY25. The estimated sales potential of these launches is approximately Rs 36,000 crore. We acquired a strategic opportunity in Sector-61, Gurugram offering a sizeable potential of approximately 7.5 msf and an estimated sales potential of more than Rs 20,000 crore, which we expect to monetize over the next few years.? ?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 stood at Rs 5,903 crore, reflecting YoY growth of 9%; consolidated profit for the quarter stood at Rs 1,690 crore, a YoY 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% YoY 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. Our business remains well poised to deliver consistent and profitable growth, the real-estate developer added. Meanwhile, the company?s board recommended a dividend of Rs 5 per equity share for the financial year ended 31 March 2024, subject to approval of the shareholders. The date up to which the dividend will be paid will be intimated in due course, said the firm. DLF is one of the oldest and largest real estate companies in India. It has a diverse asset portfolio across the real estate segment and is further expanding its presence across the country. The company has experience in developing real estate projects across business and customer segments. The scrip rose 0.33% to currently trade at Rs 840.60 on the BSE. Powered by Capital Market - Live News
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