DLF India Worst Is Over For Reality Sector Stay Invested

Check out Why We say, DLF India Worst Is Over For Reality Sector Stay Invested?
The consolidated net sales of the realty major DLF India for Q4 was down at Rs.1,122.3 crore as against Rs.4,306.5 crore on a YoY. Its consolidated net profit fell to Rs.159 crore as against Rs.2,176.8 crore on a YoY.
It has converted a short term debt of Rs.3000 crore into a long term debt. It also received around Rs.800 crore in advance from DLF Assets (DAL) in Q4. It has also suspended further sales to DAL. Post conversion of debt into long term, quality of the debt portfolio has improved substantially, with an average maturity in excess of three years. It's total debt now stands at Rs.15,000 crore.
Since the past few months, the company has been slashing its property prices and till down, it has been reduced by 10-20% and in Q4FY10, it sold 450 units across India in affordable housing segment.
It was bound to happen as the company had offered to buy back its shares of face value Rs 2 each at a price not exceeding Rs.600 a share, as against which, the stock is today quoted at Rs.230. As on 31/03/09, promoters held a stake of 88.55%.
To some extent, we can say that the worst patch is over for the Indian realty but for bigwigs like DLF, it would take a while longer to emerge out of the woods. First half of current fiscal is also expected to be patchy. thanks