Precision settings for Developer Express Gridview
@Html.DevExpress().GridView(
    settings =>
    {
        settings.Name = "stdTable";
        settings.CallbackRouteValues = "";

        settings.SettingsBehavior.AllowGroup = false; //true;
        settings.SettingsBehavior.AllowSort = false; //true;
        settings.Settings.ShowGroupPanel = false;  //true;
    }
).Bind(Model.ListOfStuff).GetHtml()

gridColumn.DisplayFormat.FormatString = "N2";
gridColumn.DisplayFormat.FormatType = DevExpress.Utils.FormatType.Custom;

protected void grid_CustomColumnDisplayText(object sender, ASPxGridViewColumnDisplayTextEventArgs e)
{
    if ("columnName" == e.Column.FieldName)
    {
        e.DisplayText = performFormattingHere;
    }
}