DB Realty Shares Witness Heavy Selling Pressure on Weak Q4 Results
DB Realty, one of the leading companies in the real estate sector, is facing heavy selling pressure in its shares today. The company’s operational revenue saw a sharp decline in the March quarter, leading to a significant loss for the company. This weak performance has created negative market sentiment, causing a slump in the company’s shares. The stock price of DB Realty fell by almost 9% during intraday trading on BSE and closed at Rs 82.65 with a 6.76% decline.
How Was DB Realty’s Performance in Q4 FY23?
DB Realty’s consolidated revenue for the March quarter of FY23 declined by 70% to Rs 58 crore from Rs 196 crore in the previous year. The company suffered a net loss of Rs 52 crore during the quarter, as compared to a net profit of Rs 506 crore in the same period last year.
Investors Disappointed With DB Realty’s Results
DB Realty’s weak Q4 results have disappointed investors, especially when other real estate companies are recording record pre-sales booking and launching new projects. This has led to a selling frenzy among investors, causing the stock price to plummet.
Rekha Jhunjhunwala Invested in DB Realty
Despite the poor performance of the company, veteran investor Rekha Jhunjhunwala has shown faith in DB Realty by investing in the company. As per the shareholding pattern of March 2023, Jhunjhunwala holds 50 lakh equity shares of the company, which is equivalent to a 1.42% stake. The promoters hold a 58.97% stake in DB Realty.
Conclusion
The weak Q4 results of DB Realty have led to heavy selling pressure, with the stock price falling significantly. However, veteran investor Rekha Jhunjhunwala’s investment in the company has given hope to shareholders. The company will need to make significant efforts to improve its performance and regain investor confidence.
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