New Delhi: DLF logs Q4 net profit of Rs 481 crore. DLF on Friday reported a net profit of Rs 481 crore for the January-March quarter of FY 2020-21, reflecting year-on-year growth of 42 percent.
Its consolidated revenue increased 2 percent to Rs 1,907 crore, the company said in a statement.
“Our business exhibited resilient performance amidst a challenging year. We remain confident of delivering our business goals,” it said.
The company added that DLF’s new product launches of independent floors in DLF City and New Gurgaon witnessed healthy absorption, vindicating demand for quality products in established locations. It clocked new product sales bookings of Rs 908 crore during the second half of 2020-21 fiscal.
Optimized cost structures and efficient working capital management coupled with a steady ramp-up in collections led to positive cash flows in all quarters, it said.
Consequently, its net debt stood at Rs 4,885 crore with a reduction of Rs 382 crore, DLF said.