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The market capitalization of DLF is Rs 2.15 lakh crore.The company’s cash collection doubled in the June quarter. JP Morgan has increased the target price of DLF shares.
New Delhi. Shares of India’s leading real estate company DLF witnessed a huge jump today. DLF shares rose by about 7 percent intraday on the National Stock Exchange (NSE) and reached the level of Rs 874. However, at the end of the day, it closed with a gain of 5.42 percent at Rs 866.20 after a slight decline. The reason behind this rise is the strong results of the company’s June quarter. Global brokerage firm JP Morgan has maintained the ‘overweight’ rating of DLF shares and increased its target price from Rs 925 to Rs 1000 per share. This is about 15 percent more than the current price.
DLF shares have gained nearly 20 per cent since the beginning of 2024, while in the last one year it has given around 80 per cent return to investors. The market capitalization of the company is Rs 2.15 lakh crore. The 52-week high of DLF stock is Rs 967 and the 52-week low is Rs 465.30. JP Morgan believes that DLF’s operating cash flow could cross $1 billion in the current financial year. The brokerage firm also expects an increase in the company’s margins, cash flow and pre-sales.
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1.04 lakh crore revenue expected
DLF recently released its Q1 FY25 results, in which the company revealed plans to launch properties in an area of around 37 million sq ft in the coming years. This is expected to generate revenue of Rs 1.04 lakh crore for the company.
DLF’s cash collection in the June quarter doubled compared to last year, while operating cash flow grew by 152 percent. Apart from this, the company has set a target of sales booking of Rs 17,000 crore for FY 2025, which will include projects in Delhi, Gurugram, Chandigarh, Mumbai and Goa.
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first published : August 16, 2024, 4:56 pm IST
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