• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money
Moneycontrol

Home » News » Buzzing Stocks

Feb 15, 2017, 12.33 PM | Source: Moneycontrol.com

DLF down 6% on delay in Cyber City stake sale, poor Q3 nos

The company's preference shareholders have approved the extension to convert cumulative compulsorily convertible preference shares (CCPS) by one more year i.e. till March 18, 2018.

Like this story, share it with millions of investors on M3

DLF down 6% on delay in Cyber City stake sale, poor Q3 nos

The company's preference shareholders have approved the extension to convert cumulative compulsorily convertible preference shares (CCPS) by one more year i.e. till March 18, 2018.

Post Your Comments

Share Cancel

| 4 Comments
Moneycontrol Bureau

Shares of DLF declined 6.6 percent intraday Wednesday on the back of poor Q3 results and delay in sale of stake in DLF Cyber City Developers by promoters.

The company has reported 46 percent decline in its consolidated Q3 (Oct-Dec) net profit at Rs 98.1 crore and total income was down at Rs 2,058 crore.

The operating profit (EBITDA) shed 6.1 percent at Rs 958 crore and EBITDA margin was down 270 bps at 46.6 percent

The company's preference shareholders have approved the extension to convert cumulative compulsorily convertible preference shares (CCPS) by one more year i.e. till March 18, 2018.

"The conclusion of cumulative compulsorily convertible preference shares (CCPS) sale transaction may not consummate by March 18, 2017, which being the last date of conversion of CCPS, the CCPS Holders have conveyed to DLF Cyber City Developers (DCCDL) and DLF that they are agreeable for extension in conversion of CCPS for one more year i.e., until March 18, 2018 at the existing dividend rate/coupon rate of 0.01 percent per annum," company said.

“The company's board based on the recommendations of the audit committee, accorded its consent for the said extension being the 100 percent equity shareholder of DCCDL,” it added.

The company had approved the proposal for promoter group companies namely Rajdhani Investments & Agencies, Buland Consultants and Investments, Sidhant Housing and Development Company to sell 15,96,99,999 CCPS of DCCDL to unrelated third party investor(s) subject to certain conditions.

At 12:09 hrs DLF was quoting at Rs 138.90, down Rs 8.60, or 5.83 percent on the BSE.

Posted by Rakesh Patil
Buy, Hold, Sell ? Hear it first on M3
DLF down 6% on delay in Cyber City stake sale, poor Q3 nos
New Member
0 Followers

Price when posted: BSE: Rs. 137.20 NSE: Rs. 137.15

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login