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Business EconomyPosted at: May 17 2022 10:36PM


DLF's Q4 FY22 PAT declined 15.72 pc to Rs 405.33 crore

Mumbai, May 17 (UNI) Realty player DLF on Tuesday reported a 15.72 per cent decline in consolidated net profit for the quarter ended March 31 at Rs 405.33 crore on the back of lower revenues.
The Gurugram based company had reported a PAT of Rs 480.94 crore in the corresponding quarter last year.
Its revenues for the January-March quarter stood at Rs 1652.13 crore as against Rs 1906.59 crore, a year-ago, registering a degrowth of 13.34 per cent.
For the whole year, however, its PAT increased to Rs 1500.86 crore from Rs 1093.61 crore in FY2021.
Similarly, its total revenues increased to Rs 6137.85 crore from Rs 5944.89 crore last year.
"Our business exhibited a strong performance during the fiscal. Strong delivery in line with our guidance across all parameters. We remain committed to achieve consistent delivery of our business goals," the company said in a statement issued here.
During the year, the company's net debt reduced by 46 per cent to at Rs 2,680 crore at the end of March 31, 2022.
"Sustained momentum and strong tailwinds are expected to support the structural upswing in housing demand over the medium term and consequently we continue to strive in scaling up our new product offerings across segments and geographies," it added.
The company noted that inflationary pressure and reversal of interest rate cycle may pose a marginal risk to the momentum in the industry.
"However, our strong balance sheet, well diversified portfolio and a strong pipeline of new products offering differentiated experiences should withstand such dislocations. We are comfortably poised to deliver consistent and profitable growth backed by strong brand equity, robust operating model and healthy cash flows," it added.
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