DLF slips after poor Q4 outcome

DLF fell 1.55% to Rs 127 at 14:06 IST on BSE after consolidated net profit declined 22.9% to Rs 132.39 crore on 19.5% rise in net sales to Rs 2335.56 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours on Friday, 27 May 2016.

Meanwhile, the S&P BSE Sensex was up 55.29 points or 0.21% at 26,708.89

On BSE, so far 13.31 lakh shares were traded in the counter as against average daily volume of 13.31 lakh shares in the past one quarter. The stock hit a high of Rs 134 and a low of Rs 126.45 so far during the day. The stock had hit a 52-week high of Rs 142.90 on 9 October 2015. The stock had hit a 52-week low of Rs 72.50 on 12 February 2016. The stock had outperformed the market over the past one month till 27 May 2016, rising 4.75% compared with Sensex's 2.26% rise. The scrip also outperformed the market in past one quarter, advancing 47.85% as against Sensex's gain of 15.11%.

The large-cap company has equity capital of Rs 356.75 crore. Face value per share is Rs 2.

DLF's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 23% to Rs 1035 crore in Q4 March 2016 over Q4 March 2015.

In a post result statement, DLF said that the company believes that the residential real estate sector in India can see a turnaround in the near future. During the last few quarters, DLF has witnessed large number of inquiries signalling early green shoots of recovery for the sector.

With regard to the commercial real estate development, DLF has started construction of a new office project called Cyber Park at a prime location just opposite Oberoi and Trident Hotels in Gurgaon, with an approximate size of 2.2 msf (including TOD). With regard to the retail mall development business, DLF officially opened its mall Mall of India in Noida with around 90% pre-leasing.

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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