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Goldman downgrades DLF to 'neutral' from 'buy'

Reuters  Mumbai, October 11, 2012
First Published: 09:45 IST(11/10/2012) | Last Updated: 09:49 IST(11/10/2012)

Goldman Sachs downgraded DLF to 'neutral' from 'buy', saying slower approvals could result in fewer project launches, while cutting its pre-sale estimates for India's largest property developer.

Goldman also removed DLF from its Asia-Pacific buy list and cut its 12-month target price to Rs. 224 from Rs. 257.

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