Feb 22, 2013 07:36 PM IST | Source: CNBC-TV18

DLF can touch Rs 310: Aggarwal

Arun Aggarwal Of Religare Capital Markets is of the view that DLF can touch Rs 310, but it all depends upon on how the company performs in terms of its launches and sales going forward.

Arun Aggarwal Of Religare Capital Markets is of the view that DLF can touch Rs 310, but it all depends upon on how the company performs in terms of its launches and sales going forward.

Aggarwal told CNBC-TV18, “Multiple things which are happening in DLF – one was deleveraging, which is broadly known now. My sense is that the improvement in operations led by higher execution is the key thing to look into the stock here onwards, around 35-40 percent of the under execution properties are getting delivered in a year’s time. But what it mean is that operations are going to leaner, and hence you will have a better bandwidth to launch and execute more.

He further added, “To top it up, there are a number of new project launches which are coming up, which would mean cash flows to improve significantly from here onwards. So my sense is that all in all a different divisions of operations are coming together and hence good bit of rerating, which is still happening and can happen here onwards. As of now I have kept a price target of Rs 310 for a March 14 number, but it all depends upon on how the company performs in terms of its launches and sales going forward.”

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