DLF Limited recorded consolidated revenues of Rs 1,751 crore for the quarter ended September 30, 2017, as compared to Rs 2,211 crore in Q1 FY18. EBIDTA stood at Rs 950 crore, a decrease of 19% as compared to Rs 1,067 crore in the Q1FY18. Net profit stood at Rs 19 crore, as compared Rs 112 crore in Q1FY18.
The Company continued with the execution momentum resulting in negative operating cash flows. On November 1, the Company has opened the new sales bookings.
In the short term, the financials will continue to be impacted as new sales bookings will get reflected with a lag of a quarter – in the financials in Q4. Short term pain is expected to be vindicated by long term gain.
The rental business of offices remained steady and the Company, post absorption of most of its office stock, is focussing on creating contemporary office spaces to meet the demand momentum in this space.