Are DLF latest results good or bad?

DLF Limited has reported its financial results for the quarter ending June 2025, revealing a mixed performance. The company's net sales reached Rs 2,716.70 crore, showing a notable growth of 35.9% compared to the average net sales of the previous four quarters. This growth indicates a strong demand for DLF's offerings in the market.
However, the profitability metrics present a different picture. The Profit Before Tax (PBT) was recorded at Rs 251.12 crore, which reflects a decline of 35.6% from the average PBT of the prior four quarters. Similarly, the Profit After Tax (PAT) decreased by 34.7% to Rs 762.67 crore compared to the average of the previous periods. The reliance on non-operating income, which constituted over half of the PBT, raises questions regarding the sustainability of the company's business model.

Additionally, the Debtors Turnover Ratio fell to 9.96 times, indicating a slowdown in the pace of debt collection. The quarterly results also show a decline in key metrics compared to the previous quarter, with net sales and consolidated net profit both experiencing negative growth rates.

Overall, DLF Limited's latest results highlight a strong sales performance juxtaposed with significant challenges in profitability, leading to an adjustment in its evaluation.