Motilal Oswal Projects DLF Stock to Soar 65% Despite Q3 Sales Dip

• Motilal Oswal Financial Services has issued a "buy" rating for DLF Ltd., projecting a 65% upside with a price target of ₹974 per share.
• DLF's Q3 bookings dropped significantly by 97% annually and 90% sequentially to ₹400 crore, largely due to a temporary halt in sales for 'The Dahlias' project for design changes.
• Despite the sales dip, DLF's collections surged 52% annually and 78% sequentially to ₹4,800 crore, exceeding estimates.
• Operating cash flow increased substantially to ₹4,020 crore, leading to zero gross debt and a net cash position of ₹11,660 crore.
• Motilal Oswal values DLF's business at ₹1.68 lakh crore, with land contributing ₹1.22 lakh crore, and estimates a 12-13 year monetization timeline for its 150 million sq ft land bank.

Why It Matters: Motilal Oswal maintains a strong 'buy' rating on DLF, forecasting significant growth despite recent sales challenges.