Buy DLF, target price Rs 392: Religare Broking

Religare Broking has buy call on DLF with a target price of Rs 392. The current market price of DLF is Rs 369.75. Religare Broking recommended to keep stop loss at Rs 355.

DLF, incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 91561.78 Crore) operating in Real Estate sector.

DLF key Products/Revenue Segments include Property Development, Rental Income, Other Operating Revenue and Royalty Income for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 1559.66 Crore, up 14.64 % from last quarter Total Income of Rs 1360.50 Crore and down -7.54 % from last year same quarter Total Income of Rs 1686.92 Crore. Company has reported net profit after tax of Rs 297.65 Crore in latest quarter.

The company’s top management includes Lt. Gen. (Retd.)Aditya Singh, Mr.Rajiv Krishan Luthra, Mr.Pramod Bhasin, Mr.Devinder Singh, Mr.Ashok Kumar Tyagi, Ms.Anushka Singh, Ms.Savitri Devi Singh, Mr.Rajiv Singh, Dr.K P Singh, Ms.Priya Paul, Mr.Vivek Mehra, Ms.Pia Singh, Mr.A S Minocha, Mr.Ved Kumar Jain. Company has S R Batliboi & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 248 Crore shares outstanding.

Investment Rationale
Recovered strongly after retesting the trendline support on weekly chart.

Promoter/FII Holdings
Promoters held 74.95 per cent stake in the company as of 31-Dec-2022, while FIIs owned 14.84 per cent, DIIs 5.0 per cent.