EBITDA improved by 17% year-over-year (YoY) to Rs 633 crore during the period under review. EBITDA margin was 39% in Q3 FY24 as against 35% in Q3 FY23.
For the October – December 2023 quarter, finance costs amounted to Rs 84 crore (down 12% YoY) and depreciation charges added up to Rs 38 crore (down 3% YoY).
PBT before exceptional items in Q3 FY24 stood at Rs 511 crore crore, up by 25% from Rs 408 crore in Q3 FY23.
The company generated cash of Rs 1,108 crore from operations in third quarter of FY 2023-24.
DLF said: "We recorded our highest quarterly sales booking of Rs 9,047 crore backed by multiple launches during the quarter. We launched three new products totaling over 5 million square feet (msf) during the quarter across multiple segments.
We witnessed healthy demand momentum across all these products… With this strong performance, the new sales bookings for the nine-month period stood at Rs 13,316 crore and hence will be comfortably exceeding our full year guidance.”
"We improved our net cash position to Rs 1,246 crore at the end of the quarter. The strong performance was backed by strong collections and focused cash management.
The office portfolio exhibited a sustained performance while retail segment continues to deliver healthy growth.
Our non-SEZ segment continues to operate at healthy occupancy levels of 97%. Our new office developments across Gurugram and Chennai continue to garner strong interest from large occupiers and consequently have achieved a pre leasing of approximately 91%.
The government’s decision for the amendment in the SEZ regulations allowing floor wise denotification should lead recovery in the SEZ segment too. We expect normalcy to return in occupancy levels in this segment over the next few quarters.
Our retail business continues to deliver strong growth and hence we continue to remain focused on increasing our retail portfolio across multiple geographies,” the real-estate developer added.
DLF is one of the oldest and largest real estate companies in India. It has a diverse asset portfolio across the real estate segment and is further expanding its presence across the country. The company has experience in developing real estate projects across business and customer segments.