From its weekly high, the stock of India’s largest listed player by market capitalisation -- DLF -- slipped 5.5 per cent. Lack of new launches meant that bookings/pre-sales for the June quarter of the 2023-24 financial year (Q1FY24) were flat as compared to the year ago quarter, and down 76 per cent on a sequential basis.
Pre-sales at Rs 2,040 crore was largely from existing inventory projects such as the luxury offering Camellia (Rs 564 crore), One Midtown Delhi (Rs 659 crore) and independent floors in Gurugram (Rs 486 crore). The three together accounted for 83.7 per cent of the sales in the quarter. In addition to these, the Valley Garden project in Panchkula added Rs 127 crore to sales.