CLSA on DLF : O-P, TP Rs 810

2QFY27 presales of Rs38bn supported by launch & sell-out of Aureva (c.50% of presales), its senior living project. OCF improved owing to growth in collections versus a decline in Opex. DLF has a slew of upcoming launches in 2HFY27 which help support its presales guidance of Rs200bn. It remains focused on growth in cashflows and ramping up its annuity portfolio (11-12msf completions by FY30). It expects FY28 to be an inflection point in terms of revenue recognition with its major projects completing.

DLF LIMITED

← Back to feed