On Friday, the Delhi Land & Finance (DLF) ‘s consolidated net profit raised 39.9 per cent to Rs 469.57 crore, which increased to 26.5 per cent in net sales of Rs 1,441.63 crore in the first quarter. Profit before tax stood at Rs 345.76 crore in the first quarter, up by 21.2 per cent in Q1FY22. The total expenditure rose 22.31 per cent yearly to Rs 1,170.52 crore in Q1FY22. EBITDA declined 2 per cent annually to Rs 488 crore due to lower other income, higher fixed costs (largely driven by organization scaling up & salary increments) and higher variable expenses driven by business scale-up costs. EBIDTA margin fell to 32 per cent in Q1 FY23 as against 40 per cent in Q1 FY22.

• India’s Retail Inflation Climbs to 3.21% in February
• India Proposes $11 Billion Fund to Support Chipmaking
• Ceigall India Shares Slump 5% Despite JV Securing Rs 2,149 Crore Order 
• Ireland Gets Europe’s First Privately Powered Data Centre
• Omnitech Engineering Bags Rs 920 Cr Order, Shares End 5% Up

According to DLF, “residential demand continued to exhibit sustained momentum. The high demand for luxury homes has been a key trend that is expected to continue. The residential business continued its steady performance and clocked new sales bookings of Rs 2,040 crore, reflecting YoY growth of 101 per cent”.
DLF, in its statement, highlighted: “The Camellias, our super luxury offering, continues to remain the preferred destination across the super luxury segment and delivered a healthy sales booking of Rs 352 crore during the quarter. Our new product offerings maintained strong market interest and made a healthy contribution of Rs 1,532 crore. While rising interest rates may pose some challenges, we expect this structural recovery in the residential segment to continue”.