By SI Team
Reco price/date: Rs 225/Dec 19;
Current/Target price: Rs 223/Rs 220
DLF has entered into a binding agreement to sell Aman resorts for $300 million. Proceeds of the divestment are expected to be used largely for debt reduction. This comes on the back of big-ticket Mumbai asset sale in October. The company is now closer to achieving its net debt target of Rs 185 billion by March 2013. This debt reduction, coupled with high-value NCR launches, has the potential to significantly turn around cash flow for the company. Neutral.
J P Morgan Asia Pacific Equity Research
Reco price/date: Rs 520/Dec 24;
Current/Target price: Rs 519/Rs 600