DLF net up 10.5 percent at 2.85 billion rupees, misses estimates

MUMBAI Fri Feb 15, 2013 12:13am IST

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010. REUTERS/Adnan Abidi/Files

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - DLF Ltd(DLF.NS), India's largest listed real estate developer, reported a 10.5 percent rise in quarterly net profit, helped by a one-time gain from the sale of non-core assets during the quarter ended Dec 31.

The New Delhi-based developer said consolidated net profit for its fiscal third quarter was 2.85 billion rupees compared with 2.58 billion rupees a year earlier.

In November, DLF concluded the sale of a 17-acre plot of land in Mumbai to private developer Lodha for 27 billion rupees, making a one-time, pre-tax gain of 8.4 billion rupees on the sale which boosted its overall profits.

Sales were down nearly 36 percent at 13.1 billion rupees over the same period.

Analysts expected the company to post net profit of 4.25 billion rupees, according to Thomson Reuters I/B/E/S.

(Reporting by Aditi Shah; Editing by Elaine Hardcastle)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Nifty Falls

Nifty Falls

The broader index hits lowest in nearly a week on profit taking  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage