DLF sells luxury residences in Gurugram for over Rs 7,200 crore; stock hits 16-year high

At around 1:38 p.m., shares of the DLF traded 1.5 per cent or Rs 11.30, higher on the BSE at Rs 764.25 apiece. The market capitalisation of the company at around the same time stood at Rs 1,89,175.7 crore.

Representative image. Source: Reuters

DLF shares on Monday (January 8) scaled a 16-year high after the realty major announced pre-formal launch sales of approximately Rs 7,200 crore for its latest luxury residential development, DLF Privana South in Gurugram.

At around 1:38 p.m., shares of the DLF traded 1.5 per cent or Rs 11.30, higher on the BSE at Rs 764.25 apiece. The market capitalisation of the company at around the same time stood at Rs 1,89,175.7 crore.

The Haryana-headquartered real estate player said in its regulatory filing that in the pre-formal launch, it had sold approximately Rs 7,200 crore worth of luxury residences in Privana South in Gurugram. Further, the filing said that the luxury residences were sold out within 72 hours, in their pre-launch phase.

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DLF Privana South is spread across 10 hectares of land in Sectors 76 and 77, Gurugram. This exclusive enclave will comprise 1,113 luxury residences across seven towers, presenting four BHK apartments and penthouses.

‘DLF Privana South', as per the filing, will be part of a larger development, “DLF Privana,” spread over approximately 116 acres in Sectors 76 and 77. The project offers a view of the verdant Aravalli Range and is in the vicinity of the upcoming Safari Park, spread over 10,000 acres.

"The swift pre-launch sellout serves as a testament to the increasing demand for high-rise luxury developments by DLF, delivering the highly aspirational DLF lifestyle," said Aakash Ohri, Jt. Managing Director and Chief Business Officer, DLF Home Developers.