In response to news that the real estate company had sold 292 opulent residences in Gurugram for more than Rs 1,800 crore just a few days after the project’s debut, DLF’s stock increased by about 4% on Thursday.
On September 26, DLF officially unveiled its “The Grove” project in Gurugram, Haryana’s DLF phase-5. According to a PTI story that cited unnamed sources, the project was fully sold out within eight days of its debut, and the project’s total sales income is above Rs 1,800 crore. In response to the news, the stock increased 3.79 percent to a high of Rs 372.25 on the BSE. As a result, the stock has increased 26.30% from its 52-week low of Rs. 294.75 set in June 20. In the June quarter, the business booked net sales of Rs 1,453 crore, or Rs 2,040 crore when ONE Midtown JV is included.
Antique Stock Broking stated the following in its Thursday Q2 results preview note: “Due to its presence throughout the value chain and high brand recognition, DLF has benefited greatly from the recovery of the NCR housing market. We expect Rs 1,500 crore in sales from existing projects and additional Rs 1,000 crore-plus in sales from newly launched independent floors in New Gurugram, Panchkula and DLF 5 on the back of strong traction in these premium products in the NCR market.”