DLF shares ended 1.98% lower at Rs 824.15 on Friday against the previous close of Rs 840.80. Market cap of the firm stood at Rs 2.04 lakh crore.
Shares of real estate developer DLF Ltd have gained 138% in the past one year. In the current session, the multibagger real estate stock ended 1.98% lower at Rs 824.15 against the previous close of Rs 840.80. The multibagger real estate stock has gained 54.84% in six months. On a similar note, the Nifty realty index has climbed 114% in the one year.
Market cap of the firm stood at Rs 2.04 lakh crore.
Earlier, DLF stock opened lower at Rs 836 on BSE. Total 1.43 lakh shares of the firm changed hands amounting to a turnover of Rs 11.79 crore.
The stock has a PE ratio of 85.80 compared to the sectoral PE of 106.05. In comparison, Macrotech Developers, Godrej Properties, Phoenix Mills and Oberoi Realty have PE ratios of 73.82, 92.58, 47.43 and 29.78, respectively.
The company has a price to book ratio of 5.42. In comparison, Macrotech Developers, Godrej Properties, Phoenix Mills and Oberoi Realty have PB ratios of 7.92, 6.66, 5.81 and 3.95, respectively.
The stock fell to a 52-week low of Rs 344.95 on March 16, 2023 and a 52 week high of Rs 944 on March 2, 2024.
The stock has a beta of 0.6 indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of DLF stock stands at 42.1, signaling it’s neither trading in the overbought nor in the oversold zone. DLF shares stand lower than the 5 day, 20 day, 50 day and higher than the 100 day 150 day and 200 day moving averages.
Brokerage Sharekhan is bullish on the DLF stock.
“DLF has a strong launch pipeline of 32 million square feet (msf) with a revenue potential of almost Rs. 79,000 crore, which it targets to launch over the next 2-3 years. For FY2025, it is targeting to launch 10 msf with a revenue potential of Rs. 32,000 crore. The two key project launches in Gurugram, viz. second phase of Privana during H1FY2025 and a Golf Course road project, are expected to significantly contribute during FY2025. Additionally, DLF has planned launches in Goa (luxury villas), Chandigarh Tricity, and Mumbai project (Q2FY2025) during FY2025,” said the brokerage in its report.
DLF is likely to benefit from strong residential demand in its key NCR market, especially in the luxury segment with price appreciation tailwinds, it added.
At the market price of Rs 910 in the beginning of this month, Sharekhan projected an upside of 20% to 22% in the real estate stock.
DLF is among the top real estate picks of Nuvama. The brokerage referred it to as “King of the Pack” in its recent report.
Motilal Oswal has assigned a neutral rating on DLF with a target price of Rs 850 on March 11, 2024.
It has downgraded the real estate stock.
“We incorporate the higher realization of DLF 5 land bank and tweak our monetization assumption to factor in its aggressive launch pipeline as indicated by the company. We revise our target price to Rs 850, indicating a 7% potential downside. Reiterate Neutral,” said the brokerage.
“During 9MFY24, DLF achieved bookings of Rs 13,300 crore, surpassing the company’s full-year guidance of Rs 13000 crore. The company has largely exhausted the new project pipeline for the current year, and the performance in the fourth quarter will be driven by Rs 4,400 crore worth of inventory at the existing projects. Hence, we expect bookings to remain flat in FY24 at Rs 15,500 crore,” the brokerage added.
