India’s largest real estate company, DLF Limited, recorded consolidated revenues of Rs 3,349 crore for the quarter ended September 30, 2007, an increase of 7.3% from Rs 3,121 crore in the first quarter of the current fiscal.
The Board of Directors have recommended 100 per cent interim dividend of Rs 2 per share which inclusive of dividend distribution tax, would involve outgo in excess of Rs 400 crore.
Commenting on the company’s performance, Mr. Rajiv. Singh, Vice Chairman, DLF Limited said, “The results depict the robust performance of the company, which is in line with our strategy to keep up the pace and performance to serve the interest of our stakeholders.”
It added 16 million sq ft to its developable land reserves in retail malls segment across locations, particularly the metros, in the quarter. The sales booked during Q2 FY08 were 1.07 million sq ft, which included sales in the retail malls in Delhi and Gurgaon. This is an increase of 55 per cent on Q/Q basis from 0.69 million sq ft in Q1 FY08.
At the end of Q2 FY08, DLF had 13.44 mn sq ft of projects in the retail segment under construction, an increase of 3.5% from 12.98 mn sq ft.
New acquisitions during the quarter included projects in Ludhiana, Dwarka Convention Centre (Retail), Banjara Hills and SBM (Retail).