DLF Q4 Results: Net profits soared 41%, Rs 4 per share dividend declared

Gurgaon based commercial real estate developer DLF recently reported its results for the Jan - Mar ‘23 period. Slowing inflation, possibility of a decline in interest rates by the Central Bank and pent up demand led to a jump in net profits. However, revenues witnessed a fall from the previous year.

Meanwhile, the DLF share price has been on a continuous upward trend in recent times. In 2023 so far, the share price of DLF has gained by more than 24% while over the past year it has risen by more than 44%.

So, how did the real estate giant perform in the Jan - Mar ‘23 period? What were the DLF revenues? Did DLF margins improve from the previous year? How much profits did DLF earn in the March quarter? What are analysts saying about the DLF target price? What was the DLF dividend? Let’s find out!

Decoding DLF Q4 earnings 

DLF revenues: DLF revenues for the Jan - Mar ‘23 period came in at Rs 1,456.1 crores. This denotes a decline of 5.9% from the previous year.  

Muted performance in the office space due to prevalent global macroeconomic conditions has been cited as a headwind by the company which hurt revenue growth. 

DLF margins: DLF’s operating margins for the Jan - Mar ‘23 period came in at 35.6%, up from 28.6% in the previous year. 

Moreover, operating profit increased by 10% from the previous year to Rs 518 crores. 

DLF Bookings: In the Jan - Mar ‘23 period, DLF clocked bookings of Rs 8,458 crores. This denotes a massive jump of 210% from the previous year’s figure of Ts 2,729 crores. 

Some of the notable project launches from DLF were The Arbour, New Gurugram, The Grove, DLF 5, Gurugram The Valley Gardens, Chandigarh tri-city and Garden city Enclave, New Gurgaon which drove the bookings growth. 

DLF dividend: DLF declared a dividend of Rs 4 per share in the current quarter. 

DLF net profit: DLF reported net profits of Rs 570 crores in the Jan - Mar ‘23 period. This marks an impressive yearly increase of 40.6%. 

DLF earnings: Analyst target price

Jefferies: The renowned global brokerage firm has a “Buy” rating on the stock with a price target of Rs 510. The firm cited strength in the company’s project portfolio and solid presence in the rising Gurgaon market as tailwinds that can drive the DLF share price higher in the near term.

Nuvama: The leading brokerage has a “Buy” rating on the stock with a price target of Rs 550. The firm believes that DLF’s pre-eminent position in the Indian real estate market will allow it to benefit from the rising demand for housing which can drive its share price higher.

Motial Oswal: The top domestic brokerage has a “Hold” rating on the stock with a price target of Rs 440.

HDFC Securities: The renowned brokerage has a “Buy” rating on the stock with a price target of Rs 504. The firm cited the company's strong pre-sales momentum as the primary driver of DLF share price growth.

Kotak Institutional Equities: The leading brokerage firm has a “Buy” rating on the stock with a price target of Rs 490. The firm remains of the opinion that the company can stand to benefit if it effectively monetizes its residual land bank.

This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.