Fundamental

DLF LTD. 

Ticker : 532868 
BUY: Rs. 180.60 
Target: Rs. 205



DLF Ltd is primarily engaged in the business of real estate development. The company has a unique business model with earnings from development and rentals. DLF has also forayed into infrastructure, SEZ and hotel businesses. In May, DLF has transferred shopping mall in Noida, Uttar Pradesh, to one of its subsidiaries- Paliwal Real Estate for Rs 2,950 crore, as part of efforts to settle dues of its joint venture firm with GIC. On the consolidated front, the company net sales were at Rs 2,500.43 crore in Q4FY19, up by 81 per cent from Rs 1377.66 crore reported in the same quarter of the previous year. The PBIDT was seen at Rs 533.69 crore, as against the operating loss of Rs 13.84 crore. The PAT was at Rs 191.92 crore, up by 407 per cent YoY from Rs 37 crore. Looking at the robust consolidated financials, we recommend a BUY.