DLF rose 1.22% to Rs 311.4 after the company said that CRISIL has upgraded its ratings on the bank facilities of the company worth Rs 3,183 crore.
The credit ratings agency has upgraded DLF's long-term rating to 'CRISIL AA-/Stable' from 'CRISIL A+/Stable'. It has also raised the short-term rating to 'CRISIL A1+' from 'CRISIL A1'.
DLF is primarily engaged in the business of development and sale of residential properties (the "development business") and the development and leasing of commercial and retail properties (the 'annuity business').
The realty major posted a consolidated net profit of Rs 337 crore in Q1 FY22 as against a net loss of Rs 70.65 crore registered in Q1 FY21. Net sales jumped 107.7% to Rs 1,139.53 crore in Q1 FY22 from Rs 548.63 crore registered in Q1 FY21.
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