DLF - Luxury Offerings Gaining Steam: HDFC Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Institutional Equities.In FY24, DLF Ltd. recorded its annual presales of Rs 148 billion (-2% YoY), beating its annual guidance of Rs 130 billion. This was mainly due to sustained demand in underlying markets and a diversified pipeline of new products. DLF had a major new launch – Privana South—which recorded more than 50% of annual presales at Rs 72 billion. For FY25, it expects to achieve Rs 170-180 billion in presales, with 12.8 million square feet of planned launches with a sale potential of Rs 420 billion. We believe that DLF would surpass its annual guidance with a launch-heavy H2 FY25 ahead and entry into the MMR market. With a net cash position of Rs 15 billion (versus Rs 12 billion as of December 2023) on the back of a strong collection of Rs 86 billion (+34%YoY) during FY24, DLF is well-poised for expansion outside the Gurgaon market; moreover, the company expects to grow residential collections by 20-25% in FY25 with free cash earmarked for growth and dividend payout. Hence, we remain constructive on DLF, given-the strong presales momentum supported by price hikes;robust launch plans; and an expected increase in office occupancy levels. .We maintain Buy with an unchanged target price of Rs 988/share..Click on the attachment to read the full report:.Patanjali Foods - Remodelling As A Formidable Competitor To Its FMCG Peers; Systematix Initiates With A Buy.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

DLF - Luxury Offerings Gaining Steam: HDFC Securities

The company had a major new launch – Privana South—which recorded more than 50% of annual presales at Rs 72 billion, says the brokerage.

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DLF - Luxury Offerings Gaining Steam: HDFC Securities

The company had a major new launch – Privana South—which recorded more than 50% of annual presales at Rs 72 billion, says the brokerage.

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