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Last Updated : Apr 05, 2018 05:37 PM IST | Source: Moneycontrol.com

Buy DLF; target of Rs 273: Edelweiss

Edelweiss is bullish on DLF has recommended buy rating on the stock with a target price of Rs 273 in its research report dated February 21, 2018.

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Edelweiss' research report on DLF


DLF’s operations continue to improve as: a) It restarted sales from November 2017 (halted since May 2017 due to RERA uncertainties); net bookings stood at INR4.8bn and will translate into revenue in Q4FY18; b) Collections from these sales will aid cash flows going ahead; and c) Deleveraging process has started with the promoters infusing ~INR90bn funds; the company expects Devco to become net debt free by FY19 end post infusion of balance promoter funds/QIP, which will ease DLF’s access to and cost of capital.

Outlook

We anticipate gradual uptick in DLF’s operations in coming quarters. We expect the company to be a key beneficiary of ongoing consolidation in the sector and believe that its attractive rental portfolio and improving balance sheet will hold it in good stead going ahead. Maintain ‘BUY’ with TP of INR273.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Feb 21, 2018 04:37 pm
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