India's DLF gains on report of ultra-luxury project launch

DLF

10/10/2024 08:29

** Shares of real estate developer DLF  DLF.NS  rise 2% to
867 rupees
    ** Stock among top gainers on Nifty realty index
 .NIFTYREAL , which is up 0.03%
    ** Co to launch ultra-luxury "Dahlias" project in Gurugram;
to be the most-expensive residential real estate project in
India, MoneyControl reports
    ** The project has a revenue potential of around 340 bln
rupees ($4 bln), report says, citing PropEquity
    ** Co did not immediately reply to Reuters' request for
comment
    ** DLS is among eight of 10 "buy" rated stock on the realty
index - LSEG data
    ** Median PT on the stock from 15 brokerages is 940 rupees -
LSEG data
    ** Stock up 20% so far this year vs a ~35% gain in the
realty index

($1 = 83.9360 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))