ICICI Securities: DLF Well Poised For Growth
Workers cycle past the site of a project proposed by DLF Universal Ltd., in Gurugram, India. (Photographer: Amit Bhargava/Bloomberg)

ICICI Securities: DLF Well Poised For Growth

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

DLF Ltd. achieved a significant QoQ operational improvement in Q2 FY21 across segments with Rs 4.7 billion of net residential sales bookings (up three times QoQ) and 9% QoQ increase in DLF Cyber City Developers Ltd. rental income to Rs 7.2 billion on account of recommencement of mall rentals.

The company’s net debt (excluding DCCDL) remained flat QoQ at Rs 52.2 billion on account of reduction in overheads and interest costs.

The company is comfortably positioned with Rs 15 billion of cash reserves and low net debt/equity of 0.2 times.

Click on the attachment to read the full report:

ICICI Securities DLF Q2FY21 Results Update.pdf


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