DLF Limited , one of India's leading real estate developers, has announced its financial results for the first quarter, showcasing robust growth across key metrics.

Revenue Surges 99%

For the quarter ended June 30, DLF reported a consolidated revenue from operations of ₹2,716.70 crore, marking a significant 99% increase compared to ₹1,362.00 crore in the same quarter of the previous year. This substantial growth reflects the company's strong performance in its development business and steady contributions from its annuity portfolio.

Profit After Tax Rises 19%

The company's consolidated net profit for Q1 stood at ₹1,282.20 crore, up 19% from ₹646.00 crore in the same quarter of the previous year. This impressive bottom-line growth demonstrates DLF's ability to maintain profitability while expanding its operations.

Operational Highlights

DLF's development business continued to show strong momentum:

• New sales bookings reached ₹11,425 crore, representing a 78% year-on-year growth.
• Collections remained healthy at ₹2,794 crore.
• The company generated a net cash surplus of ₹1,131 crore during the quarter.

The rental business, operated under DLF Cyber City Developers Limited (DCCDL), also performed well:

• DCCDL rental income grew 15% year-on-year to ₹1,326 crore.
• Net debt-to-EBITDA for DCCDL improved to 3.2x.

Strong Financial Position

As of the end of the quarter, DLF maintained a robust balance sheet:

• Gross cash balance stood at ₹10,429 crore, including ₹7,782 crore in RERA 70% accounts.
• The company achieved a net cash positive position of ₹7,980 crore.
• DLF repaid debt of ₹1,364 crore during the quarter, further strengthening its financial position.

Operational Updates

The company reported high occupancy levels across its rental portfolio:

DLF also highlighted strong pre-leasing of new products:

Outlook

With a strong project pipeline and improving market conditions, DLF is well-positioned for continued growth. The company's focus on premium developments and its ability to capitalize on the growing demand for quality real estate bodes well for its future performance.

As DLF continues to navigate the evolving real estate landscape, its Q1 results showcase its resilience and ability to deliver value to stakeholders in a competitive market environment.

DLF Cyber City Developers Limited (DCCDL), a material subsidiary of DLF Limited, has successfully raised ₹1,100 crore through the issuance of Non-Convertible Debentures (NCDs) in a private placement. This significant financial move was disclosed in a recent filing to the stock exchanges.

Key Details of the NCD Issuance

• Issue Size: 1,10,000 NCDs
• Face Value: ₹1.00 lakh per NCD
• Total Amount Raised: ₹1,100.00 crore
• Coupon Rate: 6.92% per annum, payable quarterly
• Nature of NCDs: Senior, rated, listed, secured, redeemable, transferable, and rupee-denominated

Approval and Disclosure Process

The Securities Allotment Committee of DCCDL's Board of Directors approved the allotment of these NCDs. As per regulatory requirements, DCCDL has made the necessary disclosure to BSE Limited, where its NCDs are listed.

Parent Company Notification

DLF Limited, the parent company of DCCDL, informed the stock exchanges about this development. The company received the intimation from DCCDL at 13:20 hours on the same day and promptly communicated it to both BSE Limited and the National Stock Exchange of India Limited.

Implications and Market Position

This successful NCD issuance by DCCDL demonstrates the company's strong market position and ability to raise substantial funds at competitive rates. The 6.92% coupon rate indicates investor confidence in the company's financial stability and growth prospects.

The funds raised through this NCD issuance are likely to strengthen DCCDL's financial position, potentially supporting its ongoing projects and future growth initiatives in the real estate sector.

As a material subsidiary of DLF Limited, DCCDL's financial activities have significant implications for the parent company's overall financial health and market perception. This successful fundraising effort may positively impact investor sentiment towards both DCCDL and DLF Limited.

Investors and market analysts will be keenly watching how DCCDL utilizes these funds and the impact on its future financial performance and growth strategies.