External broker reports(aggregated public sources), HDFC Securities

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External broker reports(aggregated public sources)

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<p>HSIE Results Daily DLF: DLF surprised positively on presales at INR 10bn (6.6x/-5% YoY/QoQ) despite the lockdown during the quarter. While office collection remains robust at 99%, occupancy at DCCDL declined to 86% vs. 88% at Mar 21-end. The consumption of malls rebounded to 50% of pre-COVID level during Jun-21, with footfalls exhibiting a rising trend. With robust Q1FY22, DLF is well on course to achieve INR 40bn presales in FY22, aided by 8msf launches. Net debt also continues to trend down (INR 47.bn vs INR 49bn on Mar-21).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

HSIE Results Daily DLF: DLF surprised positively on presales at INR 10bn (6.6x/-5% YoY/QoQ) despite the lockdown during the quarter. While office collection remains robust at 99%, occupancy at DCCDL declined to 86% vs. 88% at Mar 21-end. The consumption of malls rebounded to 50% of pre-COVID level during Jun-21, with footfalls exhibiting a rising trend. With robust Q1FY22, DLF is well on course to achieve INR 40bn presales in FY22, aided by 8msf launches. Net debt also continues to trend down (INR 47.bn vs INR 49bn on Mar-21).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: DLF, Dr. Reddy’s, IndusInd Bank and More

<p>We maintain BUY on DLF, with increased target price of INR 360/sh (roll forward to FY23E, reduce cap rate to 8.5% vs 9.2% earlier and assume 0-5% price increases across projects in line with DLF commentary). DLF: Presales during the quarter remained flattish at INR 10.6bn vs INR 10.2bn QoQ. While office collection remains robust at 100%, occupancy at DCCDL further declined to 89% from 91% at Dec 20-end. Consumption at retail malls reached 90% of 4QFY20 level during the quarter, with footfalls at 81%.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We maintain BUY on DLF, with increased target price of INR 360/sh (roll forward to FY23E, reduce cap rate to 8.5% vs 9.2% earlier and assume 0-5% price increases across projects in line with DLF commentary). DLF: Presales during the quarter remained flattish at INR 10.6bn vs INR 10.2bn QoQ. While office collection remains robust at 100%, occupancy at DCCDL further declined to 89% from 91% at Dec 20-end. Consumption at retail malls reached 90% of 4QFY20 level during the quarter, with footfalls at 81%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

DLF Ltd. is a real estate development company. The Company develops residential, commercial, and retail properties.

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DLF Ltd (DLFU IN)

HSIE Results Daily: DLF, Dr. Reddy’s, IndusInd Bank and More

HSIE Results Daily DLF: DLF surprised positively on presales at INR 10bn (6.6x/-5% YoY/QoQ) despite the lockdown during the quarter. While office...

HDFC Securities

HSIE Results Daily: DLF

We maintain BUY on DLF, with increased target price of INR 360/sh (roll forward to FY23E, reduce cap rate to 8.5% vs 9.2% earlier and assume 0-5%...

HDFC Securities

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