India's DLF drops to 2-year low after top court seeks probe over alleged issues in Gurugram project

DLF

04/03/2026 10:05

** Shares of real estate developer DLF DLF.NS end 3.6% lower at 569.05 rupees, their lowest level since November 2023

** India's top court has ordered the Central Bureau of Investigation to conduct a probe into DLF's "Primus DLF Garden City" project in Gurugram

** CNBC-TV18 reports the case is related to pleas by homebuyers of the project, alleging missed deadlines and lack of permanent water, electricity connections

** We have bestowed anxious thought to what has emerged. It may, tentatively put, just be the tip of the proverbial iceberg. We are hard-pressed to reckon that it may be only a one-off incident - Supreme Court order

** DLF did not immediately respond to a Reuters request for comment

** Analysts tracking stock rate it "strong buy"; same as most peers - data compiled by LSEG

** Stock down 17.5% YTD vs Nifty Realty .NIFTYREAL index's 15.4% drop

 (Reporting by Arpan Chaturvedi and Nandan Mandayam)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))