Shares in DLF gained as much as 6 per cent, following results that largely beat expectations. The shares were last trading at Rs 121 on the National Stock Exchange.
Net profit for the period was placed at Rs 121.55 crore, which was above expectations.
Shares of real estate companies have dropped sharply in the last few trading sessions as banking and real estate stocks have been beaten down badly.
Real estate stocks are over leveraged and have heavy debts on their books. DLF has a landbank of nearly 300 square million, though it also heavily laden with debt.