Its net profit stood at Rs261.85 crore in the year-ago period, the company said in a regulatory filing. Total income, however, rose by 9% to Rs2,211.24 crore in the first quarter of this fiscal from Rs2,025.58 crore in the corresponding period of the previous year. DLF said the promoters’ plan to sell their 40% stake in rental arm DLF Cyber City Developers Ltd (DCCDL) “is in advanced stages of discussion”. In March, DLF promoters K P Singh and family had entered into an exclusivity pact with Singapore’s sovereign wealth fund GIC for the stake sale. On the property market, DLF said in a statement, “Despite growth in the economy, the demand for residential real estate continues to be soft.

Source: Mint August 12, 2017 12:56 UTC