CLSA has maintained an ‘Outperform’ rating on DLF and raised the target price to ₹975/share following impressive sales figures in its ‘The Dahlias’ project. According to the brokerage, DLF has sold between 130-150 units in the premium ‘The Dahlias’ project, translating to cumulative sales of ₹10,000-11,000 crore. This performance is a significant upside surprise, particularly in the uber-luxury housing segment, which often caters to niche demand.
CLSA believes the sales momentum for this project exceeds expectations for FY25, signaling strong demand for luxury properties in a market where high-value projects typically move at a slower pace. The brokerage pointed out DLF’s ability to tap into high-end customers with its brand recognition and execution capabilities, helping drive better-than-anticipated results. The sustained growth in premium housing, particularly in Gurgaon where this project is located, positions DLF to outperform peers in the coming quarters. CLSA remains confident in the company’s growth trajectory and solid execution.
