JM Financial recommends buying DLF, target price Rs 1,000

JM Financial has recommended buying shares of DLF, a major real estate company, with a target price of Rs 1,000. This target suggests a potential increase of 44% from the current market price of Rs 705.5. Despite a significant drop in quarterly income, DLF continues to be a favored choice for investors. The company's income fell by 20.33% compared to the previous quarter but showed a slight increase of 5.72% year-over-year. The firm reported a net profit of Rs 440.40 crore for the latest quarter ending December 31, 2024. DLF was established in 1963 and has a market capitalization of Rs 174,583.73 crore. Its business segments include property development and rental income. JM Financial believes that DLF's consistent growth in its annuity business, along with a strong residential segment, positions it well for the future. As of December 31, 2024, promoters own 74.08% of DLF's shares, while foreign institutional investors hold 16.37%. The company has 248 crore shares in total and is audited by S R Batliboi & Co. LLP.