DLF rose 0.71% to Rs 212.75 at 9:27 IST on BSE after the company said it remains fully committed to achieve the divestment target of its non-core assets.
Meanwhile, the BSE Sensex was up 18.18 points or 0.1% to 17,431.14.
On BSE, 96,000 shares were traded in the counter as against average daily volume of 6.89 lakh shares in the past one quarter.
The stock hit a high of Rs 214.20 and a low of Rs 211.25 so far during the day. The stock had hit a 52-week high of Rs 261.35 on 22 February 2012. The stock had hit a 52-week low of Rs 169.55 on 4 June 2012.
India's largest real estate company by market capitalisation has equity capital of Rs 339.68 crore. Face value per share is Rs 2.
DLF's consolidated net profit fell 18.3% to Rs 292.79 crore on 10.1% decline in net sales to Rs 2197.71 crore in Q1 June 2012 over Q1 June 2011. The company announced the results after market hours on Monday, 6 August 2012.
DLF said it has realised Rs 369 crore from divestment of non-core assets. DLF said it booked 1.34 million square feet (msf) sales in the quarter (Q1 June 2012) versus 2.3 msf in the corresponding quarter. Leasing volumes were reported at 0.29 msf during the quarter. The company had 48 msf of projects area under construction at the end of the quarter.
DLF said the company remains committed to its objective of consolidating its operations by focusing on the core and divesting the non-core. Through the outsourcing of construction, the company remains focused on faster execution of the projects and shall follow a product mix that envisages high visibility projects which would result in better value addition, DLF said in a statement. The company remains fully committed to achieve the divestment target of its non-core assets, DLF added.
DLF's primary business is development of residential, commercial and retail properties.
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