The firm had reported lack of Rs 1860 crore throughout fourth quarter ended March in 2020, on account of reversal of deferred tax property (DTA) because it adopted a lower tax price. In the final quarter ended December 2020, firm had reported internet profit of Rs 449 crore.
Consolidated income of the corporate stood at Rs 1,907 crore, a Y-o-Y improve of two%.
“Demand in the residential business exhibited a strong comeback in the fiscal. New sales bookings for the fiscal stood at Rs 3,084 crore, reflecting a Y-o-Y growth of 24%,” the corporate stated in a press release.
DLF Cyber City Developers Limited (DCCDL), rental arms of the corporate reported a progress of 10% in the course of the fiscal. Consolidated income of Rs 4,385 crore was lower than final yr, primarily because of the influence on retail enterprise.
DLF stated that the event of Downtown at Gurugram and Chennai and the information heart at Noida stays on monitor.
“The retail business witnessed a steady recovery, with the luxury segment leading it. Healthy footfalls and higher spend per footfall were evident in the second half. Progress on getting DCCDL REIT ready remains on track,” DLF stated.
The rental enterprise is witnessing some short-term influence with new leasing exercise remaining tepid because of the resurgence of the pandemic.
“We, however, believe it is a temporary blip, and the underlying attractiveness of the Indian market is expected to remain in place. The IT sector, including captives, continued to exhibit growth and hiring activity is expected to rise; hence, we continue to maintain a positive outlook for the rental business,” the corporate stated.
In a separate improvement, the corporate has appointed Ashok Tyagi and Devinder Singh Whole time administrators as CEO’s of the corporate. Also, Savitri Singh and Anushka Singh, daughters of Rajiv Singh, chairman of the corporate, has been appointed as non-executive and non-independent director.