Mon, 29 August, 2016

DLF announces Annual Results for Q1FY17

DLF announces Annual Results for Q1FY17
Annual revenues at Rs 2,026 crore
Net Profit at Rs 261 crore

Editors Synopsis:

Financial Highlights –

Q1FY17 (all comparisons with Q1FY16, adjusted to IndAS)

  • Consolidated Revenue at Rs 2,026 crore, down by 19% from Rs 2,520 crore
  • EBIDTA at Rs 903 crore, down by 1% from Rs 1,000 crore
  • Consolidated PAT at Rs 261 crore versus Rs 126 crore
  • EPS at Rs1.46

For Q1FY17 (all comparisons with Q4FY16, as per IGaaP)

  • Consolidated Revenue at Rs 2,026 crore, a decrease of 18% from Rs 2,496 crore
  • EBIDTA at Rs 903 crore, a decline of 13% over Rs 1,035 crore
  • Consolidated PAT at Rs 261 crore versus Rs 132 crore
  • EPS at Rs 1.46

Highlights – Q1FY17

  • Achieved gross sales of Rs 470 crore during the quarter
  • Gross leasing of 0.86 msf during the quarter
  • Completed projects of 3.63 msf (approx); delivery underway
  • 27.7 msf of projects under construction at the endof Q1FY17

New Delhi, 29th August, 2016: DLF Limited recorded consolidated revenues of Rs 2,026 crore for the period ended 30th June, 2016, down by 19% from Rs 2,520 crore in previous quarter. EBIDTA stood at Rs 903 crore, reflecting a decrease of 1% from Rs 1,000 crore. Net profit stood at Rs 261 crore, as compared to Rs 126 crore in the previous quarter. The EPS for the quarter stood at Rs 1.46.

The Company successfully consummated the DT cinemas sale to PVR resulting in a one-time extraordinary gain of Rs 372 crore.

The residential sector remains muted across all micro-markets. The Company continues to implement its strategy of completing legacy projects and creating finished inventory and hence well positioned to profit when there is an uptick in the market dynamics.

The Company expects increased momentum in the commercial space. As the Company has exhausted most of its available commercial stock, it has commenced construction of office space in Chennai IT SEZ in the second quarter. Construction of Cyber Park at full pace and finishing of luxury retail mall at Chanakyapuri is underway. The Company is focused on aggregating leases which are expiring to enable it to contract it to ‘high value’ high creditworthy tenants.

About DLF Limited
Further information is available on the Company website 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.

For further information please contact

Divya Puri
Asst. Vice President - Corporate Communications
DLF Ltd., Sansad Marg, New Delhi - 110 001
Tel No. 011-42102045
Cell: +91 9899323869
Email: puri-divya@dlf.in

Mr. Kushal Khosla
Fortuna PR
Mob:+91 9891865029
Email: kushal@fortunapr.com