Riding on the success of its commercial office spaces and premium housing, realty major DLF Limited on Wednesday announced a massive 306 per cent jump in net profit to Rs 7,856 crore for 2007-08. In its first unaudited annual results for the full year, the company reported consolidated revenues of Rs 14,494 crore — up 258 per cent compared with Rs 4,053 crore in fiscal 2006-07. DLF stock dropped 2.84 per cent to Rs 705.25 on the Bombay Stock Exchange (BSE) today. The results were announced after market hours. It’s earnings before interest, taxes, depreciation and amortisation (EBIDTA) stood at Rs 10,017 crore, an increase of 245 per cent compared to Rs 2906 crore in the corresponding period last year. The earnings per share (EPS) for this year stood at Rs 47.16 compared to Rs 12.75 for FY07, a growth of 270 per cent.For Q4 FY08, DLF recorded consolidated revenues of Rs 4,372 crore, an increase of 20 per cent from Rs 3,651 crore in Q3 FY08. EBIDTA stood at Rs 2,849 crore, an increase of 12 per cent from Rs 2,554 crore in Q3 FY08. The company’s net profit for the period was Rs 2,177 crore. The non-annualised EPS for the quarter was Rs 12.75.Commenting on the company’s performance, DLF Ltd vice-chairman Rajiv Singh said, “For an economy growing at 8-8.5 per cent per annum, the demand for premium real estate continues to be buoyant. The strong sales witnessed by the company in the premium homes segment are a vindication of our strategy.”
