DLF reports profit rise to Rs 1,301 crore in second quarter

DLF posted an 11 percent increase in its net profit for the July to September period, reaching Rs 1,301 crore compared to the same time last year. Sales bookings for the real estate company touched Rs 3,800 crore during this quarter.

Project Sales And Cash

Strong demand drove up sales for the firm. Its Aureva luxury retirement project located in Gurugram sold out completely. The company also maintained a strong net cash position at the end of the quarter.

Context

Real estate firms in India often see high demand for luxury housing projects in major cities. Strong sales bookings and positive cash flow help developers fund new construction work without taking on heavy debt.