DLF jumps after robust bookings at Gurugram housing project

DLF surged 7.42% to Rs 156.35 after the company reportedly sold flats worth Rs 700 crore in its new housing project in Gurugram.

According to reports, the commercial real estate developer sold 376 ready-to-move-in luxury flats worth Rs 700 crore on the 1st day of the launch in Gurugram.

376 units were allotted which accounts to more than 75% of the total 504 units of the second phase of its premium Ultima project.

Ultima's first phase was launched around 2013 with a total inventory of 400 units. The second phase comprises of ready-to-move in 3-4 bedroom apartments priced at Rs 1.6 crore upwards.

Meanwhile, the S&P BSE Sensex was up 194 points or 0.51% to 38321.43.

On the BSE, 6.33 lakh shares were traded in the counter so far compared with average daily volumes of 7.98 lakh shares in the past two weeks. The stock hit a high of Rs 156.95 and a low of Rs 149.05 so far during the day.

The stock hit a 52-week high of Rs 209.4 on 03 Apr 2019. The stock hit a 52-week low of Rs 133.9 on 01 Oct 2019.

DLF's consolidated net profit fell 25.8% to Rs 128.18 crore on a 11.7% decrease in net sales to Rs 1,331.19 crore in Q1 June 2019 over Q1 June 2018.

DLF is a real estate company in India, with residential, commercial, and retail properties in 15 states and 24 cities.

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