DLF gained 1.78% to Rs 226.30 at 14:19 IST on BSE after the company's arm emerged as the highest and successful bidder for a land parcel via e-auction.
The announcement was made after market hours yesterday, 27 February 2018.Meanwhile, the S&P BSE Sensex was down 145.30 points or 0.42% at 34,201.09.
On the BSE, 2.96 lakh shares were traded on the counter so far as against average daily volumes of 7.06 lakh shares in the past one quarter. The stock had hit a high of Rs 227.50 and a low of Rs 219.50 so far during the day. The stock had hit a 52-week high of Rs 273.95 on 11 January 2018 and a 52-week low of Rs 139.50 on 2 March 2017.
The stock had underperformed the market over the past one month till 27 February 2018, sliding 12.25% compared with the Sensex's 4.73% fall. The stock had also underperformed the market over the past one quarter, declining 4.82% as against the Sensex's 1.84% rise. The scrip had, however, outperformed the market over the past one year, surging 51.41% as against the Sensex's 19.2% rise.
The large-cap company has equity capital of Rs 356.81 crore. Face value per share is Rs 2.
DLF's subsidiary Aadarshini Real Estate Developers (Aadarshini), has emerged as the highest and successful bidder of an e- auction conducted by Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) for a freehold land parcel admeasuring approximately 11.76 acre located at Gurugram. Mutliple bidders participated in the e-auction wherein Aadarshini emerged as the highest bidder at Rs 1496 crore.
Aadarshini, had bid for this prime land parcel as per the bid document issued by HSIIDC in January 2018. Post successful evaluations of the technical bids submitted by multiple bidders, an e-auction held on 26 February 2018. As per the bid terms, the regular letter of allotment will be issued to the highest bidder upon payment of 10% of the quoted amount. The balance amount can be paid in installments as per the terms of the bid document.
On a consolidated basis, DLF's net profit rose 4058.5% to Rs 4111.95 crore on 17.7% decline in net sales to Rs 1693.72 crore in Q3 December 2017 over Q3 December 2016.
DLF's primary business is development of residential, commercial and retail properties.
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