DLF is making news today, January 27, because of their impressive profits in the third quarter of this year. The company’s profit jumped 61% compared to last year, reaching Rs 1,059 crore, up from Rs 657 crore during the same time last year. Their revenue from operations was Rs 1,529 crore, just a little more than the Rs 1,521 crore from the same last year.
However, when we compare it to the previous quarter (Q2FY25), the profit fell by 23% down from Rs 1,381 crore, and revenue decreased by 20% from Rs 1,915 crore.
DLF reported new sales bookings of Rs 12,093 crore, which is great news, and their cash in hand increased to Rs 4,534 crore. In the first nine months of this year, they made new sales bookings of Rs 19,187 crore. During this quarter, the company also generated Rs 1,850 crore in operating cash.
DLF’s new luxury project, The Dahlias in DLF 5, Gurugram, has been a massive hit, gaining Rs 11,816 crore in bookings just in the opening quarter. This positive response helped the company surpass its yearly sales target.
What do Analysts Say?
Jefferies decided to keep a ‘Buy’ rating on DLF, setting a target price of Rs 1,000. They noted the strong earnings and how sales exceeded expectations, thanks to the success of The Camellias project on Golf Course Road.
CLSA also views DLF positively, rating it as ‘Outperform’ with a target price of Rs 975. They highlighted that DLF achieved the highest sales in a quarter by any developer in India, with apartments priced between Rs 650-750 million each. DLF has already topped its sales target for FY25, showing strong demand and excellent execution.
(Disclaimer: Opinions expressed are those of the experts and do not reflect the views of Thellv.news)
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