📌 Jefferies on

DLF

🔹 Target Price: ₹1,000 🔹 Rating: Buy Key Highlights: ✅ Strong focus on building a cash flow–generating company ✅ Backed by high-quality land bank + excellent delivery track record ✅ Near-term P&L may stay flattish, but margins are improving ✅ By FY28, underlying sales strength should reflect in reported numbers ✅ Stock trades below historical NAV average → favorable risk-reward 📈 Jefferies remains bullish on DLF!