The Hindu Business Line : DLF posts Rs 2,018-cr net profit

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DLF posts Rs 2,018-cr net profit

Our Bureau

New Delhi, Oct 30

Real estate firm DLF Ltd recorded a consolidated net profit of Rs 2,018 crore in the second quarter ended September 30, up 32 per cent from the first quarter profit of Rs 1,524 crore.

The company got listed in the middle of this year. The consolidated revenue for the second quarter stood at Rs 3,349 crore, up 7.3 per cent from first quarter revenue of Rs 3,121 crore.

To pay 100% interim

The company also announced 100 per cent interim dividend for the current financial year, resulting in a total outgo of Rs 400 crore.

The revenue of DLF Ltd included the sale of DLF Assets Ltd to the tune of Rs 1,300 crore.

While announcing the results today, the DLF Vice-Chairman, Mr Rajiv Singh, said, “We have a target of developing 50 million sq ft per year and we remain committed to the goal.” About the company’s application for a telecom licence, Mr Singh said that the company has not yet started looking for a partner for rolling out the services.

“We will have to see what the Government policies are regarding the licence. We have not started searching for a strategic partner.” He also declined to divulge the investments in the telecom venture.