DLF fell 0.35% to Rs 113.65 at 9:21 IST on BSE after consolidated net profit fell 4.69% to Rs 122 crore on 26.67% increase in total income to Rs 2346 crore in Q1 June 2015 over Q1 June 2014.
The result was announced after market hours yesterday, 13 August 2015.
Meanwhile, the BSE Sensex was up 112.01 points, or 0.41%, to 27,661.54.
On BSE, so far 52,000 shares were traded in the counter, compared with an average volume of 10.30 lakh shares in the past one quarter.
The stock hit a high of Rs 117 and a low of Rs 113.05 so far during the day. The stock hit a record low of Rs 94.35 on 29 July 2015. The stock hit a 52-week high of Rs 203 on 20 August 2014.
The stock had outperformed the market over the past one month till 13 August 2015, sliding 1.08% compared with 1.47% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 8.76% as against Sensex's 1.10% rise.
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The large-cap company has an equity capital of Rs 356.54 crore. Face value per share is Rs 2.
DLF's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 9% to Rs 942 crore in Q1 June 2015 over Q1 June 2014.
The company said it continues to focus on, execution of projects and expects to deliver approximately 20 msf over next few quarters, resulting in creation of finished product inventory. The company said it believes it would be more fruitful to be prepared for the up cycle in the market by readying finished stock rather than launching new projects in these tepid market conditions. The company added that is working towards creation of world class infrastructure augmenting its core market of DLF City including DLF5 and Cyber City and looks forward to replicate the same to other developments as well.
The committee of independent directors is expected to shortly provide guidance on the best way forward for the growth of the rental business and the best solution for resolving the CCPS issue, the company said in a statement.
The company said it believes that it has created a large platform of rent yielding office and retail assets, which it looks forward to partially monetise. This strategy shall allow the company to sharply reduce its debt, leading to resultant growth in shareholder value.
The company has commenced development of a new office complex in the Cyber City area in Gurgaon. It expects to commence commercial operations of the Mall of India, NOIDA, upon receipt of regulatory approvals, it said.
DLF further said that it remains committed to meet all its commitments towards all stakeholders and is grateful for the support of all stakeholders in these times.
DLF's primary business is development of residential, commercial and retail properties. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India. The company has 290 msf of planned projects with 45 msf of projects under construction.
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