DLF Q2 net profit rises 121%, new sales bookings decline by 69%. Stock trades higher

The company’s earnings before interest, depreciation, taxes, and amortisation (EBITDA) for the quarter were up 20% YoY to ₹708 crore. The EBITDA margin for the quarter contracted to 32% from 40% in the corresponding quarter last year.

In Q2FY25, the new sales bookings sank by 69% YoY to ₹692 crore. The company reported that sales bookings were impacted due to delays in receiving the necessary approvals for the new product launches. However, the company’s new sales bookings for the first half of FY25 (H1FY25) were up 66.21% YoY to ₹7,094 crore.

Further, the company reported that it has received approvals for its super luxury offering, The Dahlias in Gurugram. The company is on track to meet its guidance for FY25.

DLF Cyber City Developers (DCCDL), DLF’s commercial property joint venture, reported a 25% YoY growth in net profit to ₹521 crore in Q2FY25. The consolidated revenue for the quarter was up 13% YoY to ₹1,653 crore.

DLF stated that its rental business is witnessing steady growth. Consequently, the company has upped its capex towards this segment to drive growth in its rental portfolio. At the end of Q2FY25, the company reported a development potential of 192 million square feet. The company has an identified pipeline of 61 new product launches. Of the new products, 24 have been launched while 37 are in the pipeline.

Shares of the company have risen by nearly 13% since the beginning of the year. The stock has gained over 47% in the past year.