ICRA revises outlook of DLF from positive to stable

DLF Limited, a real estate company, has been reaffirmed long-term rating as A+ and the outlook has been revised from positive to stable.

However, there has been no change in the short-term rating as it has been reaffirmed as A1 by the credit rating agency-ICRA. The rating is presumed to be affected by the ongoing nationwide lockdown and the economic uncertainties related to it.

Meanwhile, CMO of DLF Ltd, Karan Kumar, in one of his interviews recently, discussed about the impact of COVID-19 outbreak on the real estate market. He said that the company is currently reviewing medium to long-term impact of this crisis on the sector. He is of the view that it will take a couple of quarters for the consumer sentiment towards purchase to start showing any sign of rebound.

Gurugram-based commercial real estate developer, DLF Ltd, was established in the year 1946. It is the largest publicly listed real estate company in India, with residential, commercial and retail properties in 15 states and 24 cities.

At the time of market closing on Friday, the stock of DLF Ltd was trading at Rs 138.85, up by 1.24 per cent against its previous close of Rs 137.15. Its 52-week high is Rs 266.65 while, its 52-week low is Rs 114.50 on BSE.