Real estate major DLF gained 1.01% to Rs 205.95 after the company said its board will meet on Saturday, 7 March 2020, to consider raising funds by issuing non-convertible debentures.
DLF said it plans to offer listed redeemable secured non-convertible debentures (NCDs) aggregating Rs 1000 crore in one or more tranches. The announcement was made after trading hours on Wednesday, 4 March 2020.DLF's consolidated net profit tanked 19% to Rs 271.52 crore on a 39.5% decline in net sales to Rs 1,341.87 crore in Q3 December 2019 over Q3 December 2018.
DLF is primarily engaged in the business of real estate development. The firm is primarily engaged in development business focuses on the development and sale of residential real estate, which include plotted developments, houses, villas and apartments of varying sizes and integrated townships.
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