DLF net profit down 4.8 per cent at Rs 1,640cr

India’s largest real estate company, DLF Ltd, reported a marginal drop of 4.8 per cent  in its net profit for the year ending 31 March 2011. Company’s consolidated net profit stood at Rs1,640 crore compared to Rs1,720 crore in FY10. The earnings per share for the year stood at Rs9.66 versus Rs10.13 in FY10.
However, for the quarter ending 31 March, firm’s net profit stood at Rs344.54 crore, a drop of 19 per cent compared to Rs426.38 crore in the corresponding period in the previous fiscal. It reported consolidated revenue of Rs10,145 crore for the year ending 31 March 2011, an increase of 29 per cent  from Rs7,851 crore in the corresponding period in the previous fiscal.
EBIDTA stood at Rs4,337 crore, after adjusting for a one-time cost reset due to input price inflation of Rs475 crore. This reflects an increase of 10 per cent from Rs 3,940 crore. The promoters declared Rs 2 per share dividend. 

 The other highlights for the financial year 2011 were:
The company launched 7.5 msf of residential & commercial projects in Delhi, Chandigarh, Gurgaon & Chennai and achieved gross sales of 10 msf during the year from new launches and existing projects. It Improved average sales realizations from Rs 5,700 psf in FY10 to Rs 6,500 psf in FY 11 , an increase of 14 per cent.

DLF delivered approximately seven msf of residential and commercial office space, and leased more than four msf of office space in FY 11 (versus 1 msf in FY 10). The overall rental income from offices and retail malls grew to Rs 1,270 crore, an increase of 15 per cent. About 53 msf of projects was under construction till FY 11. The company realized approx Rs 1,270 crore during the year through divestments of non core assets and total divestments to date stand at Rs 3,070 crore. Strategic investments in land aggregation and capex stood at Rs 1,800 crore