India’s largest real estate company, DLF, is likely to apportion Rs 1,100 crore in order to buy 2.2 crore equity shares priced at Rs 600 per equity share.

The company’s share price witnessed an increase over and around 30%.

But the market conditions show that buy backs have not proved to be successful in keeping the price sturdy. As an instance, the  companies like Reliance Infrastructure (REL), SRF and many others saw their prices closing below the buy back prices.

The markets saw a huge decline of almost 80% in the sales as well, which may nearly smash up earnings vista for realty firms in the coming year.

While the analysts comment that DLF should have invested in some other real estate projects, the DLF, however, plans to invest in the buy back scheme through internal accretions.

The company’s vice-chairman, Rajiv Singh told that the company is occupied with adequate resources and can easily go ahead continuously for nearly a decade.

DLF will soon release the details of its buy back plan.