DLF’s Sales Bookings Rose 21% At Rs 2,156 Crore In April-December 2019
DLF Ltd.’s net sales bookings rose 21 percent year-on-year to Rs 2,156 crore during April-December, 2019-20 on better demand for its completed inventory.
DLF’s sales bookings stood at Rs 731 crore in the third quarter of this fiscal against Rs 563 crore in the corresponding period of the previous year, according to its investor presentation.
The company said it was confident of achieving the sales target of Rs 2,700 crore for the entire 2019-20 financial year. In 2018-19, DLF clocked sales bookings of Rs 2,435 crore.
It said the company would continue to focus on faster monetisation of unsold completed housing stocks worth Rs 9,415 crore. The demand for luxury segment remained subdued. “Entering into the new cycle of development for replenishment of completed inventory at select marquee locations. Planned new projects of around 21 million square ft,” the presentation said.
DLF said its net debt stood at Rs 4,866 crore at the end of the third quarter. “The company expects to exit the current year (fiscal) with around similar level of debt,” it said.
Earlier this week, DLF reported a 24 percent year-on-year increase in consolidated net profit at Rs 414.01 crore for the quarter ended December despite a fall in income. Total income fell 36 percent over last year to Rs 1,533.34 crore in the third quarter.