  We compute the Lie symmetry algebra of the generalized Davey-Stewartson (GDS)
equations and show that under certain conditions imposed on parameters in the
system it is infinite-dimensional and isomorphic to that of the standard
integrable Davey-Stewartson equations which is known to have a very specific
Kac-Moody-Virasoro loop algebra structure. We discuss how the Virasoro part of
this symmetry algebra can be used to construct new solutions, which are of
vital importance in demonstrating existence of blow-up profiles, from known
ones using Lie subgroup of transformations generated by three-dimensional
subalgebras, namely $\Sl(2,\mathbb{R})$. We further discuss integrability
aspects of GDS equations.
