DLF Q3 Review - Well Poised For Growth: ICICI Securities
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ICICI Securities Report
DLF Ltd. achieved strong operational improvement in Q3 FY21 across segments with Rs 10.2 billion of net residential sales bookings and 14% QoQ increase in DLF Cyber City Developers Ltd.’s rental income to Rs 8.2 billion on account of recovery in mall rentals.
DLF’s net debt (excluding DCCDL) declined marginally by Rs 1.2 billion QoQ to Rs 51.0 billion on account of reduction in overheads and interest costs.
The company is comfortably positioned with Rs 13 billion of cash reserves and low net debt/equity of 0.2 times.
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