With the recent price correction we upgrade to BUY with NAV- based TP of Rs 279/sh. DLFs 3QFY18 reported an adjusted net loss (after adjusting for exceptional gain on DCCDL FV). Despite recovery in 3QFY18 pre-sales to Rs 6.7bn (sales opened in Nov17, post RERA compliance), revenue recognition remained muted on account of the 10% collection threshold remaining untriggered (as most of the bookings were on token amounts).