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DLF Ltd, India's biggest real estate company by market value, reported a 40.6% increase in quarterly profit on Friday, helped by a fall in expenses and sustained housing demand.

DLF's consolidated net profit increased to 5.07 billion rupees ($62 million) in the fourth quarter, from 4.05 billion rupees a year earlier.

DLF's revenue fell 5.9% to 14.56 billion rupees, while expenses declined 12.4%.

For further earnings highlights, click [Full Story]

WHY IT MATTERS

Despite high interest rates, the demand for luxury housing is booming in India, which has helped DLF post a rise in profit in each quarter of last financial year. The company plans to continue to focus on luxury and premium projects as it finds it difficult to make profits in the popular affordable housing segment.

Earlier this month, rival Godrej Properties Ltd reported a 58% jump in fourth quarter profit.

PEER COMPARISON

Valuation Estimates (next Analysts' sentiment

(next 12 12 months)

months)

RIC PE EV/EBI Revenue Profit Meanrat # of Stockto Div

TDA growth growth ing* analysts price yield

target** (%)

DLF Ltd 36.35 44.93 32.76 43.25 Buy 16 0.98 0.69

PrestigeEs 26.15 10.03 13.74 53.39 Strong 17 0.84 0.31

tates Buy

Projects

Ltd

GodrejProp 45.24 67.36 17.68 37.26 Hold 19 0.93

erties Ltd -

SobhaLtd 12.49 6.92 20.12 135.75 Strong 16 0.62 0.59

Buy

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JAN-MARCH STOCK PERFORMANCE

-- All data from Refinitiv

-- $1 = 81.7800 Indian rupees