DLF on Thursday reported a 61% year-on-year jump in its consolidated net profit to Rs 380 crore for the July-September quarter, aided by a strong momentum in the residential business, especially the luxury segment.
However, the real estate developer’s consolidated revenue for Q2 FY22 fell 10% year-on-year to Rs 1,557 crore. Collections rose 150% to Rs 1,448 crore during the same period.
DLF said residential business continues on a growth trajectory with healthy traction and strong demand momentum across segments and geographies. New sales bookings exhibited a strong performance during the September quarter and stood at Rs 1,512 crore, reflecting a year-on-year growth of 77%.
“Super luxury segment exhibited outperformance with ‘The Camellias’ clocking record new sales of Rs 1,037 crore in the quarter. Demand for our new products of independent floors across Gurgaon market continues to witness healthy absorption. The monetisation of our completed inventory across markets continues to gain traction,” the company said.