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DLF's Q3 net profit falls 30%

DLF Ltd, on Wednesday, posted a 30.2 per cent drop in its consolidated net profit for the third quarter ended December 2009 to Rs 467.8 crore, but said that demand was robust across all segments of housing and there are signs of recovery in leasing of office space. In the just ended quarter, DLF realised close to Rs 170 crore from sale of non-core assets, taking the total divestment in FY10 to Rs 1,234 crore. DLF said it has an “enhanced visibility” on about Rs 1,250 crore of asset sales/refunds due by the end of the current fiscal taking the total for the year to Rs 2,500 crore, with the balance going to fiscal 2011. “The company remains focused to become net debt zero in the medium term,” DLF said.
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