Problems for DLF

DLF is now facing more problems. Just last week it announced that their profits are down by 93% this year. And now the IT department has slapped a 400 cr notice on the India's largest real estate company. The real estate developer plans to challenge the government’s order. DLF shares fell 0.45% to 244.9 on the Bombay Stock Exchange, eventhough the Sensex rose by 1.37% on Thursday. The additional tax outgo will put the company in a difficult position. Recently, DLF had exited from the 9,300-acre Bidadi Satellite Township Project near Bangalore. Today, the Bangalore city corporation, has issued a public notice against investing in DLF’s proposed complex in bannergatta road, bangalore. These are some difficult times for DLF.