DLF to reduce debt: 40 per cent in rental asset arm to be sold
DSIJ Intelligence / 31 Aug 2016
DLF stock has been under tremendous pressure owing to the piling up of huge debts over several years. Sans worrying debt levels the stock remains an attractive investment option and can add diversification benefits to the portfolio.
One of the largest real estate player in India – DLF is all set to reduce its debt by selling its assets in line with a predefined strategy.
DLF in a bid to reduce its debt has short-listed bidders for the planned stake sale in the rental arm, DLF Cyber City Developers Ltd.
DLF stock has been under tremendous pressure owing to the piling up of huge debts over several years. Sans worrying debt levels the stock remains an attractive investment option and can add diversification benefits to the portfolio.
With the stake sale in the rental arm, DLF expects to garner Rs 12,000 crore. The debt for the company currently stands at Rs 20,000 crore and with accomplishment of the stake sale the debts can be lowered substantially.
The stock has outperformed markets by clocking over 45 per cent returns in a 1 year period. The stock is trading above its 200 DSMA suggesting bullishness in the scrip.
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