A man cycles past the construction site of a residential apartment building by Indian property developer DLF Ltd. in Gurgaon January 27, 2010. Shares in DLF Ltd, India’s top listed real estate firm, rose more than 3 percent on Thursday after it reported a sequential rise in quarterly profit, signalling a recovery in the realty market was gaining momentum. Picture taken January 27, 2010. REUTERS/Adnan Abidi (INDIA – Tags: BUSINESS) – RTR29K4D
Photo Credit: Reuters
DLF Ltd, India’s biggest property developer by market value, may not be able to come out of its debt trap anytime soon despite its promoters’ planned stake sale in the company’s rental arm to Singapore sovereign wealth fund GIC Pte Ltd.