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DLF is developing 1 million square feet in the first phase of a Slum Rehabilitation Authority project in a joint venture with the Trident Group.
DLF directly or through its affiliates, intends to acquire overall rights and interest in land parcel admeasuring ~29 acres having estimated development potential of upto 7.5 million sq ft.
Demand was strong in the pricier segments too, with sales of around 12,000 luxury apartments costing ₹4 crore and above last year. DLF, India's largest developer, accounted for about one-fourth of these sales. The real estate company recently sold 1,113 luxury houses, priced at about ₹6 crore each, within 72 hours of launch at a new project in Gurugram, said Aakash Ohri, joint managing director and chief business officer at DLF Home Developers.
DLF stock has doubled investors' money in the last year, surging around 104 percent. In comparison, benchmark Nifty has rallied 20 percent during this period.
Sobha share price surged 20 percent to fresh high on January 4 after Motilal Oswal named it one of its top stock picks for the year 2024.