Buy DLF, target price Rs 209: ICICI Securities

ICICI Securities has given a buy rating to DLF with a target price of Rs 209. The share price moved up by 0.54 per cent from its previous close of Rs 158.75. The stock’s last traded price is Rs 159.60.

DLF Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 39704.00 Crore) operating in Real Estate sector.

DLF Ltd. key Products/Revenue Segments include Property Development which contributed Rs 1954.33 Crore to Sales Value (82.46 % of Total Sales), Rental Income which contributed Rs 270.75 Crore to Sales Value (11.42 % of Total Sales), Other Operating Revenue which contributed Rs 144.77 Crore to Sales Value (6.10 % of Total Sales) and Royalty Income which contributed Rs .10 Crore to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 548.63 Crore, down 67.62 % from last quarter Sales of Rs 1694.20 Crore and down 58.79 % from last year same quarter Sales of Rs 1331.19 Crore. Company reported net profit after tax of Rs -178.04 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 74.9 per cent stake in the company as of June 30, 2020, while FIIs held 18.5 per cent, DIIs 1.8 per cent and public and others 4.7 per cent.