DLF share price hits 52-week high on plans for residential project launches worth ₹20,000 crore
DLF share price rose over 2% to touch a new 52-week high on Tuesday's session after the real estate giant was reported to have a pipeline of residential project launches worth close to ₹20,000 crore planned throughout the nation for this fiscal, according to moneycontrol's news report. DLF share price opened at intraday low of ₹514.05 apiece on BSE and touched an intraday high of ₹525.75. Aakash Ohri, joint managing director and chief business officer at DLF, told Moneycontrol that the company has a residential launch pipeline worth close to ₹20,000 crore that is spread out among Gurugram, Panchkula, Chennai, and Mumbai.
A super-luxury residential project in Gurugram's DLF 5, a high-rise luxury residential development complex going up in the centre of Chennai, a mid- or high-rise in New Gurugram's Sector 76/77, and a low-rise residential development project going up in Chandigarh Tri-city are all part of the launch pipeline, said the moneycontrol report. “We have a couple of high-rise launches planned for Gurugram. One is a mid segment and one is a super luxury segment expected to be launched in Q3 and Q4.
A mid-segment independent floors project is expected to be launched in Panchkula in the coming quarters. The Mumbai project is expected to be launched in Q4. The project in Chennai is likely to be launched in Q4 or Q1 of next fiscal.
It is in the design and approval stage right now. A portion of OneMidtown in Delhi (one tower) is expected to be launched in Q3 or Q4," Ohri told Moneycontrol, according to the news report. On the technical front, as per trendlyne data, DLF stock price jumped 32% and outperformed its sector by 3.5% in the past year.
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