As the curtains rise on the financial performance stage for Q3 FY2023-24, the spotlight shines on a remarkable show by a real estate powerhouse. With a consolidated net profit soaring to Rs 649 crore, marking an impressive 27% YoY increase, DLF Limited takes center stage. This surge is attributed to DLF’s record-breaking quarterly sales booking of Rs 9,047 crore, driven by the launch of three new products totaling over 5 million square feet. As the real estate giant continues its success story, investors are left wondering whether now is the ideal moment to dive into the market with DLF.
Q3 FY2023-24 Results:
Consolidated Net Profit
DLF’s consolidated net profit for Q3 stands at Rs 649 crore, showcasing a substantial YoY growth of 26%. This follows a trend set in the second quarter, where the company reported a 29% YoY increase in net profit.
Sales Booking and Revenue
The quarter witnessed DLF achieving its highest-ever quarterly sales booking of Rs 9,047 crore, backed by multiple launches. The consolidated revenue for October-December 2023-24 rose to Rs 1644 crore, compared to Rs 1559.66 crore in the corresponding period last year.
EBITDA and Cash Generation
DLF’s EBITDA reached Rs 633 crore in Q3, demonstrating improvement from Rs 591 crore in Q2. The surplus cash generation from operations touched Rs 1108 crore, highlighting the company’s financial strength and strategic growth.
Company’s Perspective
According to DLF, the launches during the quarter, including developments like DLF Privana South, Gurugram, Central 67, Gurugram, and The Valley Orchard, Panchkula, significantly contributed to the strong performance. The company’s nine-month new sales bookings at Rs 13,316 crore comfortably exceed the full-year guidance, signaling a positive outlook.
Daily Stock Chart Analysis
The daily chart of DLF’s stock reveals a bullish trend, marked by higher highs and higher lows. With over 100% returns in the past year, the stock exhibits resilience.
A closer examination using the Exponential Moving Average (EMA) strategy shows that when the price closed below the 20 EMA (blue line), it experienced a subsequent bounce back. Observing the price action and its relationship with EMA, investors can identify potential opportunities, especially if the price sustains at crucial levels.
Is it the Right Time to Invest?
With its commendable performance, robust financials, and ambitious expansion strategies, considering an investment in DLF Limited shares presents a compelling opportunity. The recent upswing in stock prices, coupled with strong fundamentals, paints a positive outlook for potential investors. However, akin to any investment decision, conducting meticulous research becomes imperative. Seeking guidance from a financial advisor is advisable to thoroughly assess whether DLF Limited aligns with your financial goals and risk tolerance.
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