Add DLF for target of Rs 208: India Infoline
India Infoline has maintained a ADD rating on DLF and expects the stock to touch a target of Rs 208 per share.
By ET Bureau |
MUMBAI: India Infoline has maintained a ADD rating on DLF and expects the stock to touch a target of Rs 208 per share.
���DLF reported a PAT decline of 93% YoY on a revenue decline of 74% YoY, due to higher contribution from mid-income projects and one-time charges related to price reduction on pre-sold apartments. We expect DLF to register positive operating cash flows from FY10ii. We await resolution of the DAL structure, and maintain ADD on the stock with a target price of Rs208 per share, at 30% discount to 1-year forward NAV,��� the brokerage said.
���DLF reported a PAT decline of 93% YoY on a revenue decline of 74% YoY, due to higher contribution from mid-income projects and one-time charges related to price reduction on pre-sold apartments. We expect DLF to register positive operating cash flows from FY10ii. We await resolution of the DAL structure, and maintain ADD on the stock with a target price of Rs208 per share, at 30% discount to 1-year forward NAV,��� the brokerage said.
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