DLF slipped 10.06% to Rs 641 on BSE on reports the firm may delay a planned initial public offering of a real estate investment trust in Singapore.
The scrip had touched a high of Rs 711.95 and a low of Rs 670 so far during the day. The stock had hit a 52-week high of Rs 1225 on 15 January 2008 and a 52-week low of Rs 505.60 on 5 July 2007.
India’s largest real estate developer by market capitalisation has an equity capital of Rs 340.97 crore. Face value per share is Rs 2.
At the current price of Rs 641, the scrip trades at a PE multiple of 45.14, based on Q3 December 2007 annualised EPS of Rs 14.22.
DLF had planned to raise $1.5 billion from the Singapore listing, but the company had changed tack because of sharp fall in global markets since the plan was announced last year. According to reports, the company now plans for a private placement to raise about $500 million. The firm is in talks with a clutch of investors and expected to seal a deal by the end of this month.
DLF reported a net profit of Rs 605.84 crore on net sales of Rs 1676.51 crore in Q3 December 2007. The comparable figures for corresponding previous year period were not available.
DLF, the largest real-estate developer in India, develops residential, commercial and retail properties. In the residential realty space, the company builds and sells a wide range of properties including houses, duplexes and apartments of varying sizes, with focus on the higher end of the market.
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