DLF, for Q1FY18, posted a 58% (YoY) drop in net profit at Rs.109 crore on a 9% increase in revenue at Rs.2200 crore. EBITDA went up from Rs.903 crore to Rs.1067 crore and margins also bettered from 45% to 48%. But it was the gargantuan Rs.783 crore interest outgo which pushed down the bottomline.

Unmindful of this performance, the realty major is currently second top gainer on the BSE, going up almost 9% to Rs. 169.

More than the performance, the market is concentrating on unconfirmed news that the promoters of the company have entered into an agreement this month with Singapore’s sovereign wealth fund GIC to sell their 40% stake in the rental arm. This is estimated to fetch the company some Rs.13,000 crore and major part of this would be used to settle its net debt of Rs.26,000 crore.