ICICI Securities has placed a BUY rating on the stock of DLF with a revised SoTP based target price of Rs 458 per share (earlier Rs450) based on 1x Mar23E NAV as we raise our FY23E and FY24E residential sales estimates by 17% each to Rs103.0bn and Rs106.8bn, respectively, owing to higher-than-expected sales bookings from Sector 63, Gurugram launch, and retain our FY23-25E rental income estimates for DCCDL.