Buy DLF, target price Rs 405: Yes Securities

Yes Securities has buy call on DLF with a target price of Rs 405. The current market price of DLF is Rs 374.95. Yes Securities recommended to keep stop loss at Rs 360.

DLF, incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 92898.45 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 1360.50 Crore, down -10.27 % from last quarter Total Income of Rs 1516.28 Crore and down -12.59 % from last year same quarter Total Income of Rs 1556.53 Crore. Company has reported net profit after tax of Rs 260.27 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
Consolidation above 370 is in a mature phase, positive follow-up action could lift the stock till 405 zone.

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.