DLF shares are in focus after the successful sale of the Privana North property. It has surged over 14% in the last 1 month and JM Financial believes the party may continue for a while. They have a Buy on DLF with a target of Rs 1,000 per share. This implies upside of nearly 19% for the share price. JM Financial highlighted that DLF is now gearing up for its maiden project in Mumbai.
JM Financial on DLF: Mumbai foray
The brokerage highlighted that, “with the success of Privana North, the company has achieved 55% of its annual pre-sales guidance of Rs 20,000 crore” and is now gearing up for its maiden Mumbai project, which has recently received RERA approval.
This project has received RERA approval 2 days ago and the official launch is expected soon. The initial phase has 400 units of 3BHK and 4BHK configuration with a starting ticket size of Rs 6.5 crore.
JM Financial on DLF: Leadership in luxury housing
JM Financial explained that building on the success of two initial phases, “DLF has reinforced its leadership in the luxury housing segment with yet another sell-out performance at DLF Privana North.”
The new project comprises 1,152 large 4BHKs along with 12 penthouses and has generated bookings of Rs 11,000 crore implying average pricing of Rs 9.5 crore per unit. The Privana project spans 116 acre integrated township located in Sector 76 and 77, Gurugram. Since January last year, DLF has launched three phases across 54 acres and generated cumulative bookings of Rs 23,800 crore.
DLF Q4FY25 performance
DLF Q4FY25 profit jumped nearly 39% YoY to Rs 1,282 crore from Rs 921 crore in the same quarter last year. On a sequential basis too, DLF clocked a jump in its profit, up 21% QoQ from Rs 1,059 crore in Q3FY25.