DLF Ltd Q2 consolidated profit down 63%

Without sharing details, DLF said it has "completely re-tooled its business model and putting in place the 'best in class' project management and construction agencies".

Besides, the firm's rental portfolio continues to perform well, but leasing volumes remains muted due to overall economic conditions, it added.

Commenting on the numbers, DLF Group Chief Financial Officer Ashok Tyagi said: "The financial results for this quarter represent that the company is poised to get back on full growth mode.

"The company is now well positioned and positive to leverage its leadership with planned launches in excess of 9million sq ft during the second half of the fiscal year. We truly believe that the worst is behind us!"

On standalone basis, DLF posted a net loss of Rs 19.54 crore as against a net profit of Rs 302.57 crore in Q2 of FY'12. The sales also declined by 66.60 per cent to Rs 356.07 crore from Rs 1,066.05 crore.

Shares of the company today closed 2.41 per cent down at Rs 206.15 apiece on the BSE.

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