Zola Real Estate has ceased to be a step down subsidiary/associate of DLF with effect from August 01, 2014. This is pursuant to issue of fresh equity to My Home Constructions. Zola Real Estate through its 100% subsidiary owns a land parcel in Raidurg, Hyderabad.
DLF's net profit for the quarter ended June 30, 2014 declined by 51.62% at Rs 72.64 crore as compared to Rs 150.16 crore for the quarter ended June 30, 2013. Its total income has decreased by 26.54% to Rs 762.38 crore for the quarter under review from Rs 1037.83 crore for the corresponding quarter of the previous year.
On the consolidated basis, the company has reported 29.52% fall in its net profit after taxes, minority interest and share of profit / (loss) of associates at Rs 127.70 crore for the quarter as compared to Rs 181.19 crore for the same quarter in the previous year. Its Total income has decreased by 24.52% at Rs 1851.60 crore for quarter under review as compared to Rs 2453.18 crore for the quarter ended June 30, 2013.
