Shares of real estate major DLF are up over 3 percent intraday on Tuesday. On June 2018, the company announced expansion of DLF Cybercity in Chennai by adding three blocks spread over 1.6 million square feet.
"Our growth story thus far has been very exciting here, combining the new blocks DLF Cybercity Chennai will now offer seven million square feet of Grade A inventory", he said. "Further marching on the path of success,we have launched the new generation office blocks that will provide an eco-system driving innovation and collaboration", said DLF Rental Business, Managing Director, Sriram Khattar.
Global research firm JPMorgan has come out with a report on DLF and has maintained an overweight stance on the stock with target of Rs 280 per share.
The firm believes that near term investment thesis is predicated on pick up in residential sales while monetisation for phase 5 developments unsold inventory to be faster.
The research firm further said that move towards completed accounting is likely to aid net profits materially over FY19/20.
At 11:10 hrs DLF was quoting at Rs 193.55, up Rs 6.05, or 3.23 percent. It has touched an intraday high of Rs 195.00 and an intraday low of Rs 189.50.
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