NEW DELHI: DLF Ltd, India's largest-listed real estate firm, reported a 93 per cent

slump in quarterly profit as property prices tumbled and
it sold fewer homes and office
buildings space in an economic downturn.

New Delhi-based DLF said consolidated net profit fell to Rs 159 crore ($31.8 million) in its fourth quarter ended March from Rs 2,177 crore a year ago. Revenue fell 69 per cent to Rs 1,350 crore from Rs 4,370 crore.

DLF, valued at $7.9 billion in the market, released the results late on Thursday. Indian markets were closed on Friday for a holiday.

The company said it was looking for a buyer for its wind power business, part of the company's move to exit non-core assets and businesses that would help it cut debt. It said due diligence of the unit's assets was underway.