Emkay Research has recommended hold rating on DLF with a target of Rs 868, November 22, 2007 report. “The company has a large land reserve of around 14,000 acres with a saleable area of 738 million square feet (m sft). It has over the years established a strong brand name for itself and has an experienced management team with an established track record. The company has also diversified into various related segments viz. Infrastructure development (including SEZ development), hospitality etc. which will ensure a steady stream of revenue. We have arrived at the target price of Rs 868 based on a premium of 20% to the NAV of the company’s land bank. The stock seems to be fairly priced with limited room for upside in the short run. However, given the strong visibility (huge land bank coupled with an established brand) and established track record of the management, we believe that the company has the potential to deliver growth on a sustained basis. We maintain ‘HOLD’ rating on the stock.” according to the Emkay Research report.
Source: Moneycontrol.com
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