DLF surges 3% on reports of launching India’s costliest project in Gurugram
Source: Business Standard
Share price of real estate giant DLF surged up to 878.20 a piece on Thursday, rising 3.03 per cent intraday amid reports of launching a super luxury residential project in Gurugram.
According to reports, DLF is set to launch what could be India’s most expensive super luxury high-rise condominium in terms of carpet area—DLF The Dahlias. Located directly across from the existing Camellias on Gurgaon’s Golf Course Road.
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As per a release by PropEquity, the Dahlias project has a revenue potential of approximately Rs 34,000 crore, which is about 2.5 times higher than that of The Camellias. However, Business Standard could not verify the details or the announcement of the project independently.
The apartments will range in size from 9,500 to 16,000 square feet, with the average sale price expected to be around Rs 100 crore. Additionally, the project will feature a two million square feet clubhouse.
“DLF has been the torch-bearer in defining super luxury living in India by prioritising on customer-centric world class services, amenities and ultra-large sizes of apartments. With the launch of this much-anticipated project, it is all set to usher new standards for luxury living in India by providing state-of-the-art amenities for its residents,” said Samir Jasuja, founder and Chief Executive Officer (CEO) of PropEquity.
Share price history
DLF’s share price has outperformed the market as it surged 19.5 per cent year to date, while gaining 54 per cent in the last one year. In comparison BSE Sensex has risen 13 per cent year to date and 23.6 per cent in a year.
The company has a total market capitalization of Rs 2.14 trillion. Its shares are trading at price to earnings valuation of 195.42 times with an earning per share of Rs 4.36.
At 11:07 AM, the stock price of the company was trading 1.62 per cent higher at Rs 866.10 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.31 per cent to 81,719.71 level.
Q1 financial show
DLF Ltd reported a 22.5 per cent year-on-year (YoY) growth in net profit, amounting to Rs 644.7 crore for the first quarter ending June 30, 2024 (Q1FY25). In the same quarter last year, DLF recorded a net profit of Rs 526.1 crore.
However, the company’s revenue from operations saw a decline of 4.3 per cent, dropping to Rs 1,362.4 crore from Rs 1,423.2 crore in the corresponding period of the previous fiscal year.
On the operational front, DLF’s earnings before interest, tax, depreciation, and amortisation (Ebitda) fell by 42.3 per cent, reaching Rs 228.7 crore in the first quarter of this fiscal, compared to Rs 396.2 crore in the same period last year. The Ebitda margin for the reporting quarter was 16.8 per cent, down from 27.8 per cent in the corresponding period of the prior fiscal year.
First Published: Oct 10 2024 | 11:16 AM IST
