DLF Ltd.

•

dlf.inBSE: 532868NSE: DLF

Market Cap₹ 1,59,311 Cr.

Current Price

High / Low₹ 795 / 489

Stock P/E35.8

Book Value₹ 185

Price to Book2.74

Dividend Yield1.24 %

ROCE6.8 %

ROE6.0 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Company has delivered good profit growth of 40.6% CAGR over last 5 years
Company is almost debt free
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.03x)
Company has been maintaining a healthy dividend payout of 44.9%

CONS

A large part of profit comes from other income (55.3% of PBT)
Company has a low return on capital employed of 6.2%
Company has a low return on equity of 5.6% over last 3 years
Operating margins have contracted to 17.3% from 35.9%
Effective tax rate is unusually low at 10.6% - earnings may be flattered
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY NEXT 50 NIFTYLARGEMIDCAP250 NIFTY CONSUMPTION NIFTY100 EQL WGT NIFTY TOTAL MKT

S.No.	Name
1.	DLF	643.60	35.83	159311.06	1.24	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1113.00	26.96	111226.00	0.38	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1891.15	52.85	67642.25	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1505.00	56.92	64824.90	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1747.40	24.16	63535.85	0.46	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1745.00	32.85	52564.02	0.57	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	599.05	37.26	21558.43	0.17	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	638.90	30.00	20844.71	0.24	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1284.65	108.49	14348.99	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1217.35	56.45	13020.02	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	762.15	10.27	10722.39	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	MAXESTATES	560.60	793.00	9169.45	0.00	8.35	-30.00	51.91	0.86	2.05	15.65

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,423	1,348	1,521	2,135	1,362	1,975	1,529	3,128	2,717	1,643	2,020	1,814	1,280
	1,027	885	1,010	1,381	1,134	1,473	1,129	2,150	2,353	1,359	1,630	1,403	1,183
Operating Profit	396	462	511	754	229	502	400	978	364	284	390	411	98
OPM %	27.84%	34.31%	33.59%	35.32%	16.78%	25.42%	26.17%	31.27%	13.40%	17.26%	19.30%	22.64%	7.62%
	98	129	122	182	367	206	-94	220	264	854	399	308	325
Interest	85	90	84	98	101	94	94	109	79	63	36	21	18
Depreciation	36	37	38	37	37	38	39	37	34	30	30	48	35
Profit before Tax	373	464	512	802	458	577	174	1,053	515	1,045	723	649	909
Tax %	27.16%	24.18%	26.40%	21.39%	25.86%	-80.96%	-153.51%	17.22%	25.85%	26.45%	-1.03%	-14.19%	12.62%
Net Profit	0	0	0	0	6,447	1,381	10,587	1,282	7,627	11,801	12,034	12,686	794
	2.13	2.52	2.65	3.72	2.61	5.58	4.28	5.18	3.08	4.77	4.86	5.12	3.21

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	8,221	6,707	8,366	6,083	5,414	5,717	5,695	6,427	7,994	8,194	6,758
	4,788	4,329	6,225	4,948	3,996	3,975	3,969	4,303	5,885	6,746	5,576
Operating Profit	3,433	2,377	2,142	1,135	1,418	1,743	1,726	2,124	2,109	1,448	1,182
OPM %	41.76%	35.45%	25.60%	18.66%	26.19%	30.48%	30.31%	33.04%	26.38%	17.68%	17.49%
	1,149	9,722	791	1,146	435	196	317	531	700	1,825	1,886
Interest	2,980	2,951	2,062	1,427	853	625	392	356	397	199	138
Depreciation	572	534	225	200	159	149	149	148	151	142	143
Profit before Tax	1,030	8,615	646	653	840	1,165	1,502	2,151	2,261	2,932	3,325
Tax %	22.27%	50.18%	42.96%	326.36%	43.15%	27.56%	26.72%	24.19%	-19.19%	10.57%	8.77%
Net Profit	800	4,292	368	-1,479	477	844	1,101	1,630	2,695	2,622	3,034
EPS	3.89	23.62	6.00	-2.41	4.42	6.06	8.22	11.02	17.64	17.83	—
Dividend Payout %	49.92%	7.99%	33.46%	-84.89%	45.27%	49.48%	48.64%	45.38%	34.00%	44.86%	—

COMPOUNDED SALES GROWTH

10 Years:: -2%
5 Years:: 9%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 31%
5 Years:: 32%
3 Years:: 29%

STOCK PRICE CAGR

10 Years:: 16%
5 Years:: 14%
3 Years:: 7%
1 Year:: -15%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 4%
3 Years:: 6%
Last Year:: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	357	357	441	495	495	495	495	495	495	495
Minority Interest	124	49	41	18	20	19	4	1	0	0
	24,203	34,191	32,385	33,952	34,849	35,867	37,192	38,936	42,055	44,978
	31,618	18,924	17,579	9,603	8,126	5,298	4,484	5,937	4,256	1,594
Trade Payables	1,407	1,218	1,277	1,056	1,234	1,529	1,644	1,655	2,261	1,720
	1,887	5,847	12,822	10,766	8,763	7,958	8,752	12,045	19,405	24,677
Total Liabilities	59,596	60,585	64,546	55,890	53,488	51,167	52,572	59,069	68,472	73,465
	3,449	2,722	2,626	2,591	2,302	2,002	1,917	1,854	1,796	1,753
Capital Work in Progress	153	137	103	89	94	81	61	68	77	159
	1,209	20,832	21,005	18,566	19,746	19,779	19,481	20,138	21,336	21,692
	20,099	19,753	22,009	22,486	21,087	20,107	19,361	21,154	24,621	24,717
	0	0	0	0	0	0	0	538	802	847
Cash & Bank	4,099	2,278	4,855	2,420	1,407	932	2,275	4,384	4,338	7,746
	30,588	14,863	13,948	9,738	8,853	8,266	9,477	10,932	15,502	16,549
Total Assets	59,596	60,585	64,546	55,890	53,488	51,167	52,572	59,069	68,472	73,465

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-570	694	2,277	398	1,059	2,612	2,461	2,539	5,235	6,347
Cash from Investing	872	-1,965	5	6,517	154	263	-463	-1,529	-3,543	721
Cash from Financing	787	-232	875	-9,522	-2,184	-3,828	-2,013	177	-2,403	-5,547
	761	-1,927	2,923	-2,649	-570	-733	-101	1,187	-710	1,522

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.08	74.08	74.08	74.08	74.08	74.08	74.08	74.08
	16.66	16.37	16.27	15.97	15.45	14.81	13.54	12.31
	4.66	4.87	4.72	5.01	5.21	5.78	6.93	8.01
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4.62	4.69	4.94	4.94	5.26	5.34	5.45	5.60

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-18

Acquisition

2026-08-18 - Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Transcript of earnings call for Q1 FY27

2026-08-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - Audio/ Video recording for Earnings Call on Un-audited Financial Results of the Company for Q1FY27

2026-08-04

Copy of Newspaper Publication

2026-08-04 - Publication of extracts of Un-audited Financial Results for Q1FY27

2026-08-03

Shareholders meeting

2026-08-03 - Scrutiniser's Report along with voting results of 61st Annual General Meeting held on 3 August 2026

2026-08-03

General Updates

2026-08-03 - 61st Annual General Meeting - Chairman's Speech

2026-08-03

Shareholders meeting

2026-08-03 - Summary of proceedings of the 61st Annual General Meeting held on 3 August 2026

2026-08-03

Investor Presentation

2026-08-03 - DLF Limited has informed the Exchange about Investor Presentation

2026-08-03

Press Release

2026-08-03 - DLF announces Financial Results for Q1FY27

News

Recent coverage and analyst commentary for DLF

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DLF Ltd.

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Name

DLF

643.60

35.83

159311.06

1.24

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1113.00

26.96

111226.00

0.38

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1891.15

52.85

67642.25

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

PRESTIGE

1505.00

56.92

64824.90

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

OBEROIRLTY

1747.40

24.16

63535.85

0.46

543.51

29.02

1300.89

31.73

17.69

56.75

GODREJPROP

1745.00

32.85

52564.02

0.57

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

599.05

37.26

21558.43

0.17

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

638.90

30.00

20844.71

0.24

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1284.65

108.49

14348.99

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1217.35

56.45

13020.02

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

762.15

10.27

10722.39

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

MAXESTATES

560.60

793.00

9169.45

0.00

8.35

-30.00

51.91

0.86

2.05

15.65

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,423

1,348

1,521

2,135

1,362

1,975

1,529

3,128

2,717

1,643

2,020

1,814

1,280

1,027

885

1,010

1,381

1,134

1,473

1,129

2,150

2,353

1,359

1,630

1,403

1,183

Operating Profit

396

462

511

754

229

502

400

978

364

284

390

411

OPM %

27.84%

34.31%

33.59%

35.32%

16.78%

25.42%

26.17%

31.27%

13.40%

17.26%

19.30%

22.64%

7.62%

129

122

182

367

206

-94

220

264

854

399

308

325

Interest

101

109

Depreciation

Profit before Tax

373

464

512

802

458

577

174

1,053

515

1,045

723

649

909

Tax %

27.16%

24.18%

26.40%

21.39%

25.86%

-80.96%

-153.51%

17.22%

25.85%

26.45%

-1.03%

-14.19%

12.62%

Net Profit

6,447

1,381

10,587

1,282

7,627

11,801

12,034

12,686

794

2.13

2.52

2.65

3.72

2.61

5.58

4.28

5.18

3.08

4.77

4.86

5.12

3.21

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

8,221

6,707

8,366

6,083

5,414

5,717

5,695

6,427

7,994

8,194

6,758

4,788

4,329

6,225

4,948

3,996

3,975

3,969

4,303

5,885

6,746

5,576

Operating Profit

3,433

2,377

2,142

1,135

1,418

1,743

1,726

2,124

2,109

1,448

1,182

OPM %

41.76%

35.45%

25.60%

18.66%

26.19%

30.48%

30.31%

33.04%

26.38%

17.68%

17.49%

1,149

9,722

791

1,146

435

196

317

531

700

1,825

1,886

Interest

2,980

2,951

2,062

1,427

853

625

392

356

397

199

138

Depreciation

572

534

225

200

159

149

148

151

142

143

Profit before Tax

1,030

8,615

646

653

840

1,165

1,502

2,151

2,261

2,932

3,325

Tax %

22.27%

50.18%

42.96%

326.36%

43.15%

27.56%

26.72%

24.19%

-19.19%

10.57%

8.77%

Net Profit

800

4,292

368

-1,479

477

844

1,101

1,630

2,695

2,622

3,034

EPS

3.89

23.62

6.00

-2.41

4.42

6.06

8.22

11.02

17.64

17.83

—

Dividend Payout %

49.92%

7.99%

33.46%

-84.89%

45.27%

49.48%

48.64%

45.38%

34.00%

44.86%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

357

441

495

Minority Interest

124

24,203

34,191

32,385

33,952

34,849

35,867

37,192

38,936

42,055

44,978

31,618

18,924

17,579

9,603

8,126

5,298

4,484

5,937

4,256

1,594

Trade Payables

1,407

1,218

1,277

1,056

1,234

1,529

1,644

1,655

2,261

1,720

1,887

5,847

12,822

10,766

8,763

7,958

8,752

12,045

19,405

24,677

Total Liabilities

59,596

60,585

64,546

55,890

53,488

51,167

52,572

59,069

68,472

73,465

3,449

2,722

2,626

2,591

2,302

2,002

1,917

1,854

1,796

1,753

Capital Work in Progress

153

137

103

159

1,209

20,832

21,005

18,566

19,746

19,779

19,481

20,138

21,336

21,692

20,099

19,753

22,009

22,486

21,087

20,107

19,361

21,154

24,621

24,717

538

802

847

Cash & Bank

4,099

2,278

4,855

2,420

1,407

932

2,275

4,384

4,338

7,746

30,588

14,863

13,948

9,738

8,853

8,266

9,477

10,932

15,502

16,549

Total Assets

59,596

60,585

64,546

55,890

53,488

51,167

52,572

59,069

68,472

73,465

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-570

694

2,277

398

1,059

2,612

2,461

2,539

5,235

6,347

Cash from Investing

872

-1,965

6,517

154

263

-463

-1,529

-3,543

721

Cash from Financing

787

-232

875

-9,522

-2,184

-3,828

-2,013

177

-2,403

-5,547

761

-1,927

2,923

-2,649

-570

-733

-101

1,187

-710

1,522

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.08

16.66

16.37

16.27

15.97

15.45

14.81

13.54

12.31

4.66

4.87

4.72

5.01

5.21

5.78

6.93

8.01

Government

0.00

4.62

4.69

4.94

5.26

5.34

5.45

5.60

DLF Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

DLF Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI