The country's largest realty firm
DLF on Monday reported marginal decline in consolidated net profit at Rs 465.67 crore for the quarter ended December 31, 2010.
The company had posted a net profit of Rs 467.89 crore in the corresponding period previous financial year, DLF said in a statement.
The
consolidated sales during the quarter, however, increased 22.42 per cent to Rs 2,479.93 crore from Rs 2,025.77 crore in the year-ago period, it added.
"The company's focus on margin protection shall continue and due moderation in volumes if so required will be undertaken. The company's execution capabilities are now strongly contributing to its business performance across the country," the statement said.
While it has witnessed bookings for 2.48 million sq ft, the company leased out 1.62 million sq ft of spaces in the three-month period.
During the quarter, the company raised Rs 403 crore from selling its non-core assets. It has so far sold assets worth Rs 2,900 crore as against a target of Rs 4,500 crore, excluding the wind power business.
The company has invested about Rs 500 crore in October-December period, mainly to consolidate land holdings in the existing projects.
"With a host of new launches scheduled by the company in the near future, it is expected that the company's business plans shall remain largely on track and the company shall benefit from the growth being witnessed in the Indian economy," DLF said, adding inflation is a matter of concern.
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