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Dolat Capital Report
DLF Ltd. retained its presales momentum at Rs 27 billion; driving full year sales to a 10 year high at Rs 73 billion.
This was aided by robust demand across product segments including Camellias retaining its quarterly run-rate of more than Rs 5 billion.
Notably land monetisation outside National Capital Region is also garnering strong traction with Chennai plotted development sales amounting to ~Rs 5 billion in Q4 FY22.
Overall, DLF's strong operating performance in the residential segment aided free cash generation of more than Rs 5 billion and parent company net debt declining 17% QoQ at Rs 27 billion.
Separately, the rental portfolio is also stabilising with average occupancy in the office portfolio at 88% while encouraging trends in the retail portfolio prompting the developer to nearly double this portfolio over the next four-five years.
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