Realty major, DLF has inaugurated a studio apartment project - My Pad-City Centre- in Lucknow. The project is spread over 5 acres, in order to develop 500 studio apartments and 100 shops in the next 3-4 years. This is the second housing project of the company in Lucknow after it had launched its maiden residential project - Gardencity last year.
The entity is planning to launch similar studio apartment projects in over half a dozen cities in India over the next 3-6 months. It is looking at larger cities in UP, such as Kanpur, Ghaziabad, Meerut etc to launch its future projects depending upon consumer demand and the depth of the market.
The company has reported net loss of Rs 42.11 crore for third quarter ended December 31, 2012 as compared to a net profit of Rs 355.70 crore for the same quarter in the previous year. Total income from operation of the company has decreased by 46.24% at Rs 664.52 crore for quarter under review as compared to Rs 1236.00 crore for the quarter ended December 31, 2011.