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DLF Q3 net falls 45 pct, sees more gloom ahead
DLF Ltd, India's largest listed developer, reported a 45 percent fall in quarterly net profit, missing market expectations with the company warning of continued rising costs in upcoming quarters. Indian developers saddled with large debt obligations have been hit by slowing sales and rising commodity costs as 13 interest rate hikes by the RBI push up the cost of repayments and deter potential homebuyers.
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