DLF shares spike up to 6% post impressive Q4; Jefferies bets for 36% potential gains

DLF share price in Tuesday’s trade zoomed up to 6 per cent in Tuesday’s trade (May 20, 2025) after March quarter results. For the March quarter, the company’s net profit rose 39 per cent to Rs 1,282.2 crore as against Rs 920.71 crore in the same quarter of the previous year.

Sales during the quarter surged 46.50 per cent to Rs 3127.58 crore in the quarter ended March 2025 as against Rs 2134.84 crore during the previous quarter ended March 2024.

For the full year,net profit rose 60.16 per cent to Rs 4367.62 crore in the year ended March 2025 as against Rs 2727.09 crore during the previous year ended March 2024. Sales rose 24.38 per cent to Rs 7993.66 crore in the year ended March 2025 as against Rs 6427.00 crore during the previous year ended March 2024.

Brokerages take on DLF post Q4 results

Jefferies  on DLF  

The global brokerage has continued with a buy rating and a target of Rs 1,000. Q4 performance was strong with continued momentum at the luxury Dahlias project, it added. The brokerage said that delivery of projects in NCR, a tad ahead of estimates and also ndrove a P&L beat. Cash balances jumped on strong operating cash flow generation and remain a key positive factor for the realty player. 

Morgan Stanley on DLF 

The brokerage maintains equalweight with the target at Rs 910. 4Q pre-sales of Rs 2000 crore (better than MSe), resulting in FY25 pre-sales of Rs 21200 crore (+44% YOY, highest among peers)  
 Net cash position is Rs 6,800 crore in the Q4 quarter.

Nomura on DLF 

The brokerage has maintained a neutral view on the stock with the target at Rs 700. Strong Q4 driven by stronger than expected revenue recognition from “Independent Floors” & 1st-time rev recognition of “Midtown JV”. Medium-term & FY26F launch guidance unchanged, acknowledged the brokerage.