| From Bloomberg: DLF Ltd. and other Indian developers are cutting prices on increasing risks that buyers will back out of purchases made at the market’s “peak,” forcing developers to write off earlier profits, Credit Suisse Group said.
DLF, along with Parsvnath Developers Ltd. and Orbit Corp., have more than 20 percent of their revenue booked since 2006 as outstanding, Mumbai-based analyst Anand Agarwal wrote in a report today. The company, India’s largest real-estate company, has lowered prices for a project in Chennai by as much as 14 percent, the report said. .... Full Article: Source
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