DLF, the country's largest real estate firm in market capitalisation, had achieved sales bookings of Rs 1,225 crore in the same period a year ago
According to sources, the size of QIP issue is likely to be Rs 3,500 crore and above
Real estate giant DLF's shares surged 16.5 per cent after news of a possible stake sale deal completion hit the Street. Around 40 per cent of DLF Cyber City Developers (DCCDL) would be sold for Rs 13,000 crore to an affiliate of Singapore's GIC, a deal which might be complete by later this month, company sources have indicated.Putting a stop to a five-day losing streak, the stock opened at Rs 160 and saw a high of Rs 184.20. Last week, DLF had reported a decline of 58 per cent in net profit at Rs 109 crore for the quarter ended June. A source in the company said absolutely no sale of residential properties since May, triggered by enforcement of the new real estate regulation law, Rera, and later the goods and services tax (GST), had hit hard.Net profit was Rs 261.8 crore in the year-ago period, the company said in a BSE filing. Total income, however, rose by nine per cent to Rs 2,211 crore. The profit declined as the company had posted an exceptional profit item of Rs 329.1 crore in .