DLF, a known real estate developer is planning to conduct a block deal on August 1st worth Rs 1,086.2 crore. They are offering a 3 percent discount compared to the market price. In the quarter that ended in June 2023, DLF exceeded analysts’ expectations by generating a profit of Rs 526.11 crore. As part of their re-entry, into the Mumbai market, DLF has partnered with Trident Group. Together they plan to launch a project in Andheri West spanning over nine lakh sq ft. The company is investing Rs 400 crore as equity, for this development initiative.
According to sources, there is a planned block deal, in the real estate developer DLF on August 1st with a value of Rs 1,086.2 crore. The deal will be priced at a 3 percent discount to the market price (CMP). The seller involved in this transaction is from the promoter group.
DLF reported a profit of Rs 526.11 crore for the quarter ending in June 2023 which is an increase from Rs 469.21 crore during the same period last year. This exceeded analysts’ expectations. In the April-June quarter, total income reached Rs 1,521.71 crore than Rs 1,516.28 crore from the previous year’s same quarter.
Recently DLF made an announcement about its re-entry into the Mumbai property market. Plans to launch nine lakh square feet (sq ft) of space in Andheri West by the end of this fiscal year in collaboration with Trident Group as part of a project’s first phase.
DLF intends to invest around Rs 400 crore as equity for developing the project that has a saleable area ranging from 30 to 35 lakh sq ft as mentioned during an investor call, on July 24th.
