DLF Ltd suffers net loss of Rs 72 cr in Q1FY21

New Delhi: Realty player DLF Ltd suffered a consolidated net loss of Rs 72 crore in the first quarter of the current fiscal as against a net profit of Rs 413 crore in the corresponding quarter of the previous fiscal.

The consolidated net revenues of the company declined 58 percent at Rs 646 crore as compared to Rs 1,540 crore in the corresponding quarter of the previous fiscal. The EBITDA of the company stood at Rs 99 crore. 

The consolidated total expenses of the company almost halved to Rs 826 crore in the first quarter of the current fiscal as compared to Rs 1,678 crore in the corresponding quarter of the previous fiscal.

Because o the corona-led lockdown, the residential segment was slow and saw new sales booking of just Rs 165 crore in the latest quarter. Post unlocking, Company is witnessing a pickup in enquiries and some early green shoots of demand.  

The DLF Cyber City Developers Ltd’s consolidated net profit of Rs 160 crore for the first quarter of the current fiscal. The consolidated net revenues of the company stood at Rs 929 crore. The EBITDA of the company stood at Rs 729 crore, the company said in a statement.

In the residential segment, “company is witnessing a pickup in enquiries and some early green shoots of demand,” DLF said in a statement. 

The company claims it has arranged business continuity for its office tenants during the latest quarter. The office business continues to do well with strong collections of 95 percent in the latest quarter. The company continues to be optimistic regarding its office business. But the retail business was negatively impacted in the lockdown period.      

New developments under the planning and execution stages stand at 21 million square feet. After the lockdown has lifted, the construction has resumed at all the sites of the company. The current operations are at 65 percent of pre-covid levels. The projects that are under development stages in DCCDL portfolio currently stand at 4 million square feet.

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