12 Jan , 2022 By : monika singh
NEW DELHI – Shares of DLF NSE 1.90 ?ded3 per cent in early trade Wednesday after the realty major said it sold properties worth Rs 1,500 crore in its newly launched housing project at Moti Nagar in the national Capital, reflecting strong demand for luxury apartments.
DLF launched its luxury housing project 'ONE Midtown' comprising 913 units, at Shivaji Marg in Moti Nagar, with a starting price of Rs 3 crore.
The company’s scrip rose to a high of Rs 421 against Rs 408.85 at the previous close on the National Stock Exchange.
Located in West Delhi, ONE Midtown boasts of 4 towers soaring to 39 floors each, offering its residents panoramic views of the acres of greenery surrounding it, reports said.
DLF reported a net profit of Rs 378.12 crore during the second quarter ended September 2021 due to strong demand in the residential business. The company reported a profit of Rs 227.75 crore during the second quarter ended September in 2020, due to the pandemic-induced lockdown. The consolidated revenue of the company stood at Rs 1,557 crore.
At the time, the company had said that the residential business continues to tread on its growth trajectory with healthy traction and strong demand momentum across segments and geographies. New sales bookings exhibited strong performance during the quarter and stood at Rs 1,512 crore, reflecting a year-on-year (YoY) growth of 77%.
DLF Cyber City Developers, the rental arm of the company, posted consolidated revenue of Rs 1,123 crore compared to Rs 1,040 crore last year. The company said the rental business continues to exhibit resilient performance, and the retail business has exhibited a strong rebound.