Real Estate Developer DLF disclosed its financial performance for the first quarter of the current fiscal year, reporting a net profit of Rs 527 crore.

The realty major’s consolidated net profit increased by 12% YoY to Rs 527 crore from its Rs 470 crore in the year-ago period.

The company’s revenue had a marginal decline from the year-ago period by 1% to Rs 1,423 crore, as against Rs 1,442 crore a year ago and 2% quarter-on-quarter.

The company reported an EBITDA decline of 4% YoY to Rs 396 crore.

The company’s other income increased by 32% to Rs 98 crore for the quarter under review.

DLF has announced its re-entry into the Mumbai real estate market through its subsidiary DLF Home Developers. DLF Home Developers Ltd’s wholly-owned arm Pegeen Builders and Developers, will allot 9,800 shares of Rs 10 each at par to Delhi-based real estate firm Trident Buildtech.

Sahyog Homes Ltd, a wholly-owned subsidiary of Trident Buildtech, is developing a slum rehabilitation project in Andheri (West), Mumbai.

DLF said, “We remain optimistic about the demand for housing as the cycle continues to remain positive. We are gearing up to bring new products into the markets during the fiscal. We believe that macro tailwinds along with the strong demand outlook augur well for our business,”.

The company has developed more than 158 real estate projects and an area of 340 million square feet (msf). The group has around 215 msf development potential across the resident and commercial segments.