DLF,
3Q Results: Is Residential Business Recovering?
Buy/Medium Risk 1M
Price (30 Jan 08) Rs862.20 Target price Rs1,046.00
Expected share price return 21.3%
Revenues and profits rise — 3Q FY08 consolidated revenues and net profit
grew 11% and 6% qoq, respectively – strong growth for the third quarter running. The EBIDTA margin was 69.5%. The quarter saw a notable pick-up in launches and lease activity. Office continues to be a dominant segment, while Residential appears to be improving.
CITI,
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