Veteran real estate company DLF’s consolidated profit stood at Rs 480.94 crore in the fourth quarter. The company had reported a loss of Rs 1,857.76 crore in the same period last year. The company’s consolidated revenue grew by 1.1 per cent to Rs 1,712.57 crore in the fourth quarter.
DLF’s consolidated profit stood at Rs 1,093.61 crore for the previous full financial year. Due to this, the company had a loss of Rs 583.19 crore in the previous year. In the financial year 2021, the company’s consolidated revenue declined 11 percent to Rs 5,414.06 crore.
DLF said in a regulatory filing that the company’s whole time directors Ashok Kumar Tyagi and Devinder Singh have been appointed as the chief executive officer and whole time directors of the company. While DLF has inducted Savitri Devi Singh and Anushka Singh as additional directors in the company. Both of them are daughters of DLF chairman Rajiv Singh.
BROKERAGES ON DLF
JP Morgan’s opinion on DLF
JP Morgan maintains an overweight rating on DLF and has a target of Rs 360 for the stock.
Morgan Stanley’s opinion on DLF
Morgan Stanley maintains an overweight rating on DLF and has a target of Rs 299 for the stock.
CLSA’s opinion on DLF
CLSA has downperformed the rating on DLF to buy rating and has set a target of Rs 350 on the stock. He says that the sales guidance of Rs 4000 crore for FY22 remains intact. The company expects fresh leasing to pick up in FY23. The company’s pre-sales are showing an upward trend and cash flow is looking positive.
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