DLF Q3 net at Rs 606 cr, singapore listing on cards

New Delhi, Jan 30 (UNI) DLF Ltd today said it has posted a net profit of Rs 605.8 crore for the third quarter ended December 31, 2007.

Its total revenue for the quarter ended December 31, 2007 is at Rs 1,812.59 crore.

The consolidated results show the group has posted a net profit of Rs 2,144.98 crore for the third quarter ended December 31, 2007 and its total revenue is at Rs 3,651.25 crore.

Speaking on the occassion Vice Chairman, DLF Ltd Rajiv Singh said,''The thrust on commercial segment continues to gain momentum while as per plan the last couple of months saw aggressive launch of mid income housing project with specific focus on affordability and actual user''.

The company is seeing gross margins of 35 per cent in FY08, he added.

The DLF management said that office trust listing has not been postponed in Singapore and is hopeful of getting listing in the current quarter.

''It has not been postponed. The process continues and we are hopeful of receiving the final clearances in a short period of time'', said Mr Singh.

In the last quarter, the company a started numerous projects across the country and was able to sell in excess of 3,000 apartments in the last two months, of which about 2,000 were in Chennai and more than 600 in Kolkata, a 100 units in Kochi and Indore.

''We expect to almost double this number within this quarter itself and therefore we should end this quarter with about 6,000 odd apartment units having been sold across the country. We also have very large launches coming up in North India - both in Panchkula as well as in New Gurgaon which is a part of the Gurgaon master plan'', added Mr Singh.

The company is basically focussing on the affordability and actual users, thereby disallowing multiple bookings per individual and corporate and no resale allowed for the first year.

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