DLF’s net profit increases by 30.32% in Q2 FY24, Real Estate News, ET RealEstate
NEW DELHI: DLF has reported a growth of 30.32 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 621.89 crore in Q2 FY24 as against Rs 477.20 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 1,476.42 crore in Q2 FY24, a growth of 8.52 per cent from Rs 1,360.50 crore it recorded in the similar quarter last year.
During the quarter, the company has declared dividend of Rs 4 per share (On the face value of Rs 2 per equity share) amounting to Rs 990.12 crore.
During the quarter, Pegeen Builders & Developers (Pegeen), a wholly-owned subsidiary, has issued additional share capital to Trident Buildtech (Trident) equivalent to 49% stake. Pursuant to this change in shareholding of Pegeen, the group holds 51% stake and is now considered as joint venture.
In August 2023, the National Company Law Tribunal (NCLT), Chandigarh Bench has approved the scheme of amalgamation involving Gavel Builders & Constructions, Jesen Builders & Developers, Jingle Builders & Developers, Keyna Builders & Constructions, Morgan Builders & Developers, Morina Builders & Developers, Morven Builders & Developers with DLF Homes Panchkula, it said in the regulatory filing.
