DLF profit falls 27%, hit by slowing home sales
Oct 31, 2013
Source : The Economic Times

 

MUMBAI: DLF LtdBSE -0.07 %, country's top real estate developer, posted a 27 per cent fall in its consolidated net profit for the July-September quarter, hit by slowing home sales in Asia's third-largest economy.

"In the current economic and high interest rate environment, the company expects a slow absorption of product in the market," DLF said in a statement to the exchange late on Wednesday.

The New Delhi-based developer, founded by billionaire KP Singh, said net profit for the fiscal second quarter was Rs 1 billion compared with Rs 1.38 billion a year earlier. The profit fell short of analyst expectations of Rs 1.4 billion, according to Thomson Reuters I/B/E/S.

Total revenue was Rs 19.56 billion, down from Rs 20.4 billion posted during the same period last year.

On Wednesday, Oberoi Realty LtdBSE -1.91 %, country's second-largest developer by market value, posted a 48 per cent fall in net profit for the September quarter - its worst quarterly profit decline in nearly two years - hit by a drop in sales.

Latest Realty News

Equinox appoints C&W as marketing partner
Oct 31, 2013
PUNE: Equinox Realty, the real estate arm of Essar Group, has appointed property services consulting firm Cushman and Wakefield (C&W) as an exclusive marketing partner for its 'Villas in the Sky' range of apartments at Water’s Edge in Hebbal, Bangalore.
Godrej Properties reports 5% rise in Q2 profit
Oct 31, 2013
MUMBAI: Godrej Properties, the real estate arm of the Godrej Group, has posted a net profit of Rs 34.25 crore for the second quarter ended September 30. This was 5 per cent up from Rs 32.58 crore posted in the year-ago period.
Pune based Vastushodh projects affordable housing gets a PE Boost
Oct 31, 2013
PUNE: City based Vastushodh Projects is all set to get a boost in its endeavour to provide housing for middle and lower income groups with Avenue Venture Partners, a Mumbai based PE Fund taking project level equity in some of its projects.
Housing projects may face more delays ahead
Oct 31, 2013
MUMBAI: Delayed housing projects have become common in India—a recent study said one-fourth of all residential projects in the country are delayed—and the problem is likely to get a lot worse going by the sheer number of apartments scheduled for delivery till 2016.
RBI hikes rate, but your EMIs unlikely to go up
Oct 30, 2013
MUMBAI: Reserve Bank of India governor Raghuram Rajan on 29th October stepped up the inflation control drive by raising a key policy rate but the increase is unlikely to impact interest rates for home, car and consumer loans.
Uncertainty over Navi Mumbai airport impacts Ulwe’s real estate
Oct 30, 2013
MUMBAI: The state of uncertainty over the proposed Navi Mumbai International Airport has put the real estate market at Ulwe node, in shambles. It is mainly on the back of this project, home buyers have been showing interest in the area but now that there have been talks to scrap the project, there is a reason for property buyers to get jittery.
REIT: A measured step to protect the growth of real estate sector
Oct 30, 2013
MUMBAI: Real Estate Investment Trust (REIT) will be registered as a trust with SEBI and provide financing and exit options both for the investors as well as developers.
Gera Developments launches Gera’s Imperium Green in Goa
Oct 30, 2013
PUNE: Gera Developments, one of the pioneers of the real estate industry and the creators of premium residential & commercial projects in Pune & Goa, today announced the launch of Gera's Imperium Green, the next generation green building of Goa. Located in Mala, (soon to emerge as Patto Extension) in Panjim, Gera's Imperium Green, is Goa's first commercial property that is powered by Greentelligence and utilizes numerous green parameters of an eco-friendly building.
CREDAI chief warns of stagflation
Oct 29, 2013
MUMBAI: Appreciating the RBI concern over checking inflation, realtors’ apex body CREDAI Chairman, Lalit Kumar Jain has cautioned the central bank and the government against stagflation
Panel for housing zone over libraries, schools in Pune
Oct 29, 2013
PUNE: The state-appointed planning committee has recommended that 1.71 lakh square metre land, which was reserved for 13 civic amenities in the draft development plan (DP) of Tathawade village in Pimpri Chinchwad, be earmarked as residential zone.
See More

Latest Realty News Of State

Realty Talk's

See More
All rights reserved © 2005-2018. Gharabari Info Ltd.
Follow us on :