The company has a ready-to-move in inventory of over Rs 150 billion.
Earnings per share (EPS) for the year stood at Rs 25.02. The board of directors also declared a final dividend of Rs 0.80 per share for the last fiscal year, subject to approval by shareholders. This is in continuation to the interim dividend of Rs 1.20 per share declared and paid during March.
DLF commenced work at the initial phase of the Midtown project located in Central Delhi, which covers an area of approximately two million square feet (msf). The total development potential of the project is approximately seven msf, which is expected to be completed over the next six years.
A few quarters ago, the real estate giant made it clear that it shifted its strategy and would only sell inventory which is complete and ready to move in. “According to the strategy of creating finished inventory to ride this up cycle in the residential segment, we remain committed to timely execution and have achieved completion of approx. 8.6 msf of projects in FY18,” it said.
The company’s commercial segment of business continued to exhibit good growth. It said that most of its commercial projects are seeing 100 per cent absorption rate and are bringing in good returns for the firm. Gross leasing achieved during the year stood at 6.76 msf. Out of this, 5.96 msf is attributable to the DCCDL Group.
The company hopes to see a jump of 30 per cent in the rental income as a large chunk of its commercial establishments would be up for re-leasing over the next few months.