Shares of DLF witnessed a surge of almost 2 per cent on Thursday after the real estate company announced robust earnings for the December-ending quarter.
The company reported a 27 per cent surge in consolidated net profit, reaching Rs 655.71 crore. The total consolidated earnings for Q3FY24 amounted to Rs 1,643.51 crore, compared to Rs 1,559.66 crore in the same period the prior year.
Meanwhile, DLF witnessed a decrease in overall expenses, dropping to Rs 1,131.97 crore, down from Rs 1,151.62 crore in the corresponding period of last year.
At 10:30 pm, the shares of the real estate company were trading at Rs 756 price level, up by more than a per cent on the National Stock Exchange.
"We recorded our highest quarterly sales booking of Rs 9,047 crore backed by multiple launches during the quarter. We launched three new products totalling over 5 msf during the quarter across multiple segments. The sustained demand momentum across all segments continues to be encouraging and we continue to focus on strengthening our new product pipeline which we plan to launch in a calibrated manner across our key markets," the company said in its exchange filing.
DLF recorded a 57 per cent increase in standalone net profit to Rs 463.66 crore in the third quarter of the current fiscal year, up from Rs 294.86 crore in the same period the previous year. Whereas, the standalone income surged to Rs 1,117.40 crore in Q3FY24, marking an increase from Rs 973.89 crore in the corresponding period of the previous year.