DLF jumps as GIC commits Rs 1990 crore investment in two realty projects

DLF jumped 4.43% to Rs 110.70 at 13:29 IST on BSE after the Singapore government's sovereign wealth fund GIC announced its decision to invest about Rs 1990 crore in two upcoming real estate development projects of a wholly-owned subsidiary of DLF.

Meanwhile, the BSE Sensex was down 68.51 points, or 0.27%, to 25,627.93.

On BSE, so far 12.93 lakh shares were traded in the counter, compared with an average volume of 13.33 lakh shares in the past one quarter.

The stock hit a high of Rs 114.30 and a low of Rs 107.20 so far during the day. The stock had hit all-time low low of Rs 93 on 24 August 2015. The stock hit a 52-week high of Rs 186.70 on 3 September 2014.

The stock had outperformed the market over the past one month till 1 September 2015, sliding 7.67% compared with 8.60% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 10.32% as against Sensex's 7.73% decline.

The large-cap company has an equity capital of Rs 356.58 crore. Face value per share is Rs 2.

GIC will make the investment in two upcoming projects of DLF's wholly-owned subsidiary DLF Home Developers (DHDL). DHDL will continue to be the developer of the two projects which are located in central Delhi.

On consolidated basis, DLF's net profit fell 4.9% to Rs 121.55 crore on 26.7% growth in total income to Rs 2345.62 crore in Q1 June 2015 over Q1 June 2014.

DLF is one of the biggest real estate development companies in India. DLF is primarily engaged in the business of development and sale of residential properties and the development and leasing of commercial and retail properties.

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