DLF Q4 net profit down 19

The consolidated sales during Q4,however,increased by 34.53 per cent to Rs 2,683.09 crore,from Rs 1,994.37 crore in the year-ago period.

For the entire 2010-11,the consolidated net profit went down 4.66 per cent to Rs 1,639.61 crore,from Rs 1,719.84 crore in 2009-10.

The consolidated sales in last fiscal rose by 28.80 per cent to Rs 9,560.57 crore,from Rs 7,422.87 crore in 2009-10,the company said.

The shares of the company today closed 1.84 per cent down at Rs 218.95 apiece on the Bombay Stock Exchange.

The company board has recommended a dividend of 100 per cent,which is Rs 2 per equity share,for 2010-11,DLF said.

8220;Though this consistent high rate of inflation has had a bearing on our financial performance,through the course of FY8217;11 we have progressed well on all our key business parameters and continue our focus on enhancing execution and maximizing cash flows,8221; DLF Group Chief Financial Officer Ashok Tyagi said.

During the fiscal,the company achieved gross sales of 10 million sq ft from new launches and existing projects.

Besides,it raised about Rs 1,270 crore during 2010-11 through divestments of non core assets. Total divestments of non-core assets stand at Rs 3,070 crore so far.

Raising from non-core assets stood at Rs 160 crore in the fourth quarter,DLF said.