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ICICI Securities has add call on with a target price of Rs 434. The current market price of DLF Ltd. is Rs 407.95. Time period given by analyst is one year when DLF Ltd. price can reach defined target.
DLF Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 101252.63 Crore) operating in Real Estate sector.
DLF Ltd. key Products/Revenue Segments include Property Development, Rental Income, Other Operating Revenue and Royalty Income for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1556.53 Crore, up 25.30 % from last quarter Total Income of Rs 1242.27 Crore and down -9.67 % from last year same quarter Total Income of Rs 1723.09 Crore. Company reported net profit after tax of Rs 226.33 Crore in latest quarter.
Investment Rationale
DLF has achieved Rs25bn of sales bookings in H1FY22 vs. FY22 guidance of Rs40bn. With estimated Rs11bn of bookings in Q3FY22 and contribution from this new launch, the brokerage expects the company to clock FY22 sales bookings of Rs54bn and exceed its FY22 guidance. It maintains ADD rating with an unchanged Mar’22 SoTP based target price of Rs434/share. Key risks are weakness in office leasing and slowdown in residential demand.
Promoter/FII Holdings
Promoters held 74.95 per cent stake in the company as of 30-Sep-2021, while FIIs owned 17.62 per cent, DIIs 2.39 per cent.
DLF Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 101252.63 Crore) operating in Real Estate sector.
DLF Ltd. key Products/Revenue Segments include Property Development, Rental Income, Other Operating Revenue and Royalty Income for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1556.53 Crore, up 25.30 % from last quarter Total Income of Rs 1242.27 Crore and down -9.67 % from last year same quarter Total Income of Rs 1723.09 Crore. Company reported net profit after tax of Rs 226.33 Crore in latest quarter.
Investment Rationale
DLF has achieved Rs25bn of sales bookings in H1FY22 vs. FY22 guidance of Rs40bn. With estimated Rs11bn of bookings in Q3FY22 and contribution from this new launch, the brokerage expects the company to clock FY22 sales bookings of Rs54bn and exceed its FY22 guidance. It maintains ADD rating with an unchanged Mar’22 SoTP based target price of Rs434/share. Key risks are weakness in office leasing and slowdown in residential demand.
Promoter/FII Holdings
Promoters held 74.95 per cent stake in the company as of 30-Sep-2021, while FIIs owned 17.62 per cent, DIIs 2.39 per cent.
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