DLF rose 3% intra day to Rs.96 and currently remains around the same levels. Though in the green, it remains closer to its 52-week low of Rs.90 than its high of Rs.179.

The company declared its Q3FY16 numbers on 2nd Feb and since then the stock price has been in the green. It had posted a 24% (YoY) jump in net profit at Rs.164 crore and this was on the back of a 44% rise in income at Rs.2828 crore.

This rise in sales comes as a surprise because its actual property sales were down at 0.21 million sq.ft v/s 0.36 million sq.ft (YoY). Thus the increase in the topline is on account of the one-time gain made on account of sale of land by its wholly-owned subsidiary DLF Home Developers to two JVs formed with Singapore’s GIC. Without this sale, the company’s net profit has not actually grown as much. In September 2015, GIC invested Rs.1,990 crore in two upcoming residential projects of DLF in central Delhi.

The net debt of the company currently stands at Rs.21,396 crore, down Rs.1124 crore sequentially.

The stock is up today on news that the promoters are likely to sell their 40% stake in the rental firm – DLF Cyber City Developers Ltd (DCCDL) by July 2016. Some 25 institutional investors are said to have evinced interest in this sale. The news is that this deal could bring in around Rs.12,000 crore.

The promoters have deferred conversion of its Compulsorily Convertible Preference Shares (CCPS) in DCCDL to March 18, 2017 on the same coupon rate of 0.01% pa.