DLF comes out with flying colours in Q1FY17

India’s largest real estate firm, DLF has posted impressive numbers in this quarter. In Q1FY17, company has posted a net profit of Rs 283.04 crores, which has increased by 82 per cent as compared to the Q1FY16. Income from operation stands at Rs 1867.46 crores, which has decreased by 22 per cent as compared to the Q1FY16. EBITDA in Q1FY17 is marginally down by 1 per cent and stands at Rs 903 crores. On the other hand, finance cost of the company has increased by 20 per cent as compared to corresponding quarter of the previous fiscal and stands at Rs 747.84 crores. In Q1FY17, company has achieved gross sales of Rs 470 crores and has completed projects spanning 3.63 million sq ft.

Company is currently in the process of selling its 40 per cent shareholding to DLF Cyber City Developers Limited, and the deal is expected to fetch Rs 13000 crores for the company. It plans to reduce its debt with the amount.On the other hand, company has sold its DT Cinemas to PVR for Rs 433 crores out of which Rs 333 crores have been received by the company.Shares of the company, as at 9.23 am are trading at Rs 160.55, which is up by 1.42 per cent. In the last 3 months, the scrips have given a return of Rs 27 per cent. 52 week High/Low of the company stands at Rs 169.60/72.50.