DLF announces Annual Results for FY16
Annual revenues at Rs 9,819 crore
Net Profit at Rs 549 crore
Financial Highlights –
For FY16 (all comparisons with FY15)
- Consolidated Revenue at Rs 9,819 crore, up by 20% from Rs 8,168 crore
- EBIDTA at Rs 4,425 crore, up by 25% from Rs 3,543 crore
- Consolidated PAT at Rs 549 crore, an increase of 2% from Rs 540 crore
- EPS at Rs 3.08 compared to Rs 3.03
- Dividend – Rs 2 per share
Q4FY16 (all comparisons with Q4FY15)
- Consolidated Revenue at Rs 2,496 crore, up by 19% from Rs 2,101 crore
- EBIDTA at Rs 1,035 crore, up by 23% from Rs 843 crore
- Consolidated PAT at Rs 132 crore versus Rs 172 crore
- EPS at Rs 0.74
For Q4 FY16 (all comparisons with Q3 FY16)
- Consolidated Revenue at Rs 2,496, a decrease of 16% from Rs 2,981 crore
- EBIDTA at Rs 1,035 crore, a decline of 25% over Rs 1,379 crore
- Consolidated PAT at Rs 132 crore, a decrease of 19% from Rs 164 crore
- EPS at Rs 0.74
Highlights – FY16
- Achieved net sales of 1.14 msf of Rs 3,150 crore during the year.
- Completed projects of 14.07 msf (approx); delivery underway.
- Net leasing of 1.02 msf of office space during the year.
- Overall annuity income grew to Rs 2,600 crore (approx)
- 33.5 msf of projects under construction at the end of FY 16
- Crisil has revised its Rating outlook on Long Term Bank facilities and Debt instruments of DLF Limited from “ Negative to Stable ‘”, while reaffirming the Rating at Crisil A, the Short Term facilities have been reaffirmed at “Crisil A2
New Delhi, 27th May, 2016: DLF Limited recorded consolidated revenues of Rs 9,819 crore for the financial year ended 31st March 2016, up by 20% from Rs 8,168 crore in previous financial year. EBIDTA stood at Rs 4,425 crore, reflecting an increase of 25% from Rs 3,543 crore. Net profit stood at Rs 549 crore, as compared to Rs 540 crore in FY15. The EPS for the year stood at Rs 3.08. The Board of Directors have confirmed that interim dividend declared in March would be the final dividend for FY16. Revenues for Q4 FY16 stood at Rs. 2,496 crore, a decrease of 16% from Rs 2,981 crore in Q3FY16. EBIDTA stood at Rs 1,035 crore, a decline of 25% from Rs 1,379 crore. Consolidated PAT was at Rs 132 crore, a decrease of 19% from Rs 164 crore in the previous quarter.
The residential sector remained soft during the year with muted demand across most micro markets in which the company is present. DLF 5, however, continued to garner good interest and clocked in healthy sales amounting to approx. Rs 2,940 crore. During the last few quarters the company has witnessed large number of inquiries signalling early green shoots of recovery for the sector. The Company believes that the sector can see a turnaround in the near future.
The annuity business continues to experience healthy interest and an upward trajectory for the rentals. Since, most of the office stock in Cyber City has been absorbed; the company has started construction of a new project: Cyber Park, with an approximate size of 2.2 msf (including TOD). The company also officially opened its first destination mall: Mall of India, Noida with around 90% pre-leasing.
The Parliament has finally approved the Real Estate (Regulation and Development) Act, 2016, which the Company believes to be the first step in institutionalising the sector and creating a robust industry wide framework. The company strongly believes that this will be an enormous help in reviving the customer confidence and increasing transparency in the sector.
The transaction relating to sale of CCPS by the promoters is currently underway and is receiving good response from the investors.
About DLF Limited
More information about the company is available on www.dlf.in.
Forward Looking Statement
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. DLF Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
Asst. Vice President - Corporate Communications
DLF Ltd., Sansad Marg, New Delhi - 110 001
Tel No. 011-42102045
Cell: +91 9899323869
Mr. Kushal Khosla