DLF Ltd logo

DLF Ltd

DLF NSE

Key Fundamentals

LargecapResidential Commercial ProjectsRealty
Market Cap
1.6L Cr
Volatility
Moderate
P/E Ratio
37.07
EBITDA
₹3,070 Cr
Return on Equity
5.77%
Debt to Equity
0.01
Book Value
₹183.71
EPS
₹11.5
52W High
₹794.8
52W Low
₹489.4

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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56 extracted metrics + investor summaries across FY15–FY26.

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Technical Indicators

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 29.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 41.4%

Weaknesses

5
  • Stock is trading at 3.65 times its book value
  • The company has delivered a poor sales growth of 8.64% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 9.32% over last 3 years.
  • Earnings include an other income of Rs.1,886 Cr.

Growth Rate

Revenue Growth
9.12% ↗
Net Income Growth
-2.70% ↗
Cash Flow Change
21.24% ↗
ROE
-8.85% ↗
ROCE
12.99% ↗
EBITDA Margin (Avg.)
-9.54% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

DLF Ltd is India's largest listed real estate developer with a market cap of ₹1,63,123 Cr, trading at a PE of 36.5x and PB of 3.57x. The company has achieved strong profit CAGR of 29% over 5 years while becoming nearly debt-free, but TTM sales have declined 28% and return on equity remains modest at around 9-10%.

Bull Case 7
  • Company is almost debt-free, having significantly reduced leverage — a major positive in a capital-intensive real estate sector
  • Compounded profit growth of 29% CAGR over both 5-year and 10-year periods demonstrates sustained earnings expansion
  • Healthy dividend payout ratio of 41.4% with a current dividend yield of 1.21%, indicating shareholder-friendly capital allocation
  • ROE has improved to 10% in the last year from a 5-year average of 8% and 10-year average of 5%, showing an upward trajectory
  • Stock has delivered 15% CAGR over both 5-year and 10-year periods, reflecting long-term wealth creation
  • 3-year compounded sales growth of 13% indicates the recent revenue trend (excluding TTM) was on an improving path
  • TTM profit still grew 2% year-on-year despite a 28% decline in TTM sales, suggesting margin resilience and cost discipline
Bear Case 8
  • TTM sales declined 28%, a sharp revenue contraction that raises concerns about near-term demand or project completion timing
  • 10-year compounded sales growth is negative at -2%, indicating the topline has essentially stagnated over a decade
  • Stock trades at 3.57x book value, a premium valuation for a company with sub-10% average ROE
  • 3-year average ROE of only 9.32% is low relative to the PE multiple of 36.5x, implying the market is pricing in significant future improvement
  • Earnings include other income of ₹1,886 Cr, which inflates reported profits and may not be recurring or operational in nature
  • 5-year sales CAGR of only 8.64% is poor for a company valued at over ₹1.6 lakh Cr market cap
  • Stock has declined 13% over the past 1 year, underperforming the broader market
  • Tax rate appears low, which if normalized could compress reported earnings

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Positives 1
  • Q1FY26 net profit up 4% YoY Aug 3

    Consolidated net profit rose 4% YoY to ₹793.90 crore for Q1FY26, with ₹485.83 crore contribution from JV profits. Standalone profit surged 66% to ₹65.34 crore.

Neutral 4
  • Q1FY27 earnings call hosted Aug 4

    DLF released the audio/video recording of its earnings call for the quarter ended June 30, 2026, and had scheduled the investor call on August 4 at 4 PM IST to discuss results and business outlook.

  • 61st AGM concludes successfully Aug 3

    Shareholders approved FY26 audited financials and re-elected two directors at the 61st AGM held via video conferencing on August 3, 2026.

  • Cost Auditor re-appointed for FY27 Aug 3

    Board re-appointed Sanjay Gupta & Associates as Cost Auditors for FY27 following Audit Committee recommendation.

  • ₹21.39 crore block trade on NSE Jul 22

    Approximately 3,28,467 shares traded in a block deal at ₹651.30 per share totalling ₹21.39 crore, likely by an institutional investor.

TL;DR: DLF's recent newsflow is largely procedural with AGM approvals and earnings call logistics dominating headlines. The one material data point is a modest 4% YoY rise in consolidated net profit for Q1FY26, supported by strong JV contributions. No visible headwinds emerged in this period. The trend is stable, and investors should watch the upcoming Q1FY27 earnings details for forward guidance on new launches and pre-sales momentum.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
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
Expenses
1,027
885
1,010
1,381
1,134
1,473
1,129
2,150
2,353
1,359
1,630
1,403
1,130
Operating Profit
396
462
511
754
229
502
400
978
364
284
390
411
150
OPM %
28%
34%
34%
35%
17%
25%
26%
31%
13%
17%
19%
23%
12%
Other Income
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
PBT
373
464
512
802
458
577
174
1,053
515
1,045
723
649
423
Tax %
27%
24%
26%
21%
26%
-81%
-154%
17%
26%
26%
-1%
-14%
27%
Net Profit
526
622
656
920
645
1,381
1,059
1,282
763
1,180
1,203
1,269
794
EPS in Rs
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
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
7,649
9,926
8,221
6,707
8,366
6,083
5,414
5,717
5,695
6,427
7,994
8,194
6,758
Expenses
4,635
5,960
4,775
4,329
6,218
4,937
3,945
3,974
3,969
4,303
5,885
6,746
5,523
Operating Profit
3,014
3,966
3,446
2,378
2,148
1,146
1,469
1,743
1,726
2,124
2,109
1,449
1,234
OPM %
39%
40%
42%
35%
26%
19%
27%
30%
30%
33%
26%
18%
18%
Other Income
503
506
1,135
9,722
784
1,135
383
195
317
531
700
1,825
1,886
Interest
2,304
2,680
2,980
2,951
2,062
1,427
853
625
392
356
397
199
138
Depreciation
545
766
572
534
225
200
159
149
149
148
151
142
143
PBT
668
1,026
1,030
8,615
646
653
840
1,165
1,502
2,151
2,261
2,932
2,839
Tax %
24%
55%
22%
50%
43%
326%
43%
28%
27%
24%
-19%
11%
—
Net Profit
507
305
708
4,477
1,314
-590
1,083
1,500
2,034
2,724
4,367
4,415
4,446
EPS in Rs
3.03
1.72
4.01
25.02
5.98
-2.36
4.42
6.06
8.22
11.02
17.64
17.83
17.96
Div. Payout %
66%
117%
50%
8%
33%
-85%
45%
49%
49%
45%
34%
45%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
356
357
357
357
441
495
495
495
495
495
495
495
Reserves
27,013
23,712
24,216
34,954
33,135
33,952
34,849
35,867
37,192
38,936
42,055
44,978
Borrowings
24,495
25,264
29,202
17,491
17,222
8,103
6,886
4,182
3,334
4,834
4,103
306
Other Liabilities
14,398
12,396
10,179
7,783
15,684
13,341
11,258
10,623
11,551
14,804
21,819
27,685
Total Liabilities
66,262
61,729
63,954
60,585
66,483
55,890
53,488
51,167
52,572
59,069
68,472
73,465
Fixed Assets
19,619
3,943
24,640
8,082
6,322
5,187
4,856
4,862
4,785
3,880
3,502
4,114
CWIP
5,901
1,779
153
137
103
89
95
81
61
71
86
162
Investments
623
21,310
1,209
20,832
21,005
18,566
19,746
19,779
19,481
20,138
21,336
21,692
Other Assets
40,119
34,697
37,952
31,533
39,053
32,049
28,791
26,444
28,245
34,981
43,549
47,497
Total Assets
66,262
61,729
63,954
60,585
66,483
55,890
53,488
51,167
52,572
59,069
68,472
73,465
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,037
2,957
-898
270
2,043
356
1,460
2,832
2,375
2,539
5,235
6,347
Investing
98
-818
872
-2,102
3
6,508
150
267
-461
-1,529
-3,475
721
Financing
-1,547
-1,929
787
-232
875
-9,522
-2,184
-3,828
-2,013
177
-2,403
-5,547
Net Cash Flow
588
210
761
-2,064
2,921
-2,658
-573
-729
-98
1,186
-642
1,522
Free Cash Flow
1,198
2,371
-1,101
-455
1,474
217
1,529
2,684
2,321
3,166
5,140
6,231
CFO/OP
89
91
-17
29
106
35
72
150
143
132
254
484
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
76
126
63
70
36
43
39
36
35
31
37
38
Cash Conversion Cycle
76
126
63
70
36
43
39
36
35
31
37
38
Working Capital Days
686
290
533
495
133
612
788
799
742
745
615
245
ROCE %
6%
8%
7%
5%
5%
4%
4%
5%
5%
6%
7%
6%

Shareholding Pattern

As of Jun 2026
Promoters 74.08%
FIIs 12.31%
DIIs 8.04%
Public 4.62%
Others 0.96%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
74.95%
74.95%
74.95%
74.95%
74.95%
74.95%
74.95%
74.95%
74.95%
74.95%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
74.08%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
16.53%
16.16%
16.65%
16.37%
16.27%
15.97%
15.45%
14.81%
13.54%
12.31%
DIIs
2.14%
2.39%
2.39%
2.67%
3.15%
3.36%
4.80%
5.09%
5.22%
4.87%
5.27%
5.18%
4.77%
4.81%
4.65%
4.87%
4.72%
5.01%
5.21%
5.78%
6.94%
8.04%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
4.42%
4.53%
4.27%
4.40%
4.72%
4.76%
4.50%
4.31%
4.35%
4.08%
4.00%
3.96%
3.90%
4.18%
3.91%
3.95%
4.17%
4.18%
4.45%
4.46%
4.56%
4.62%
Others
18.49%
18.14%
18.39%
17.98%
17.18%
16.93%
15.75%
15.65%
15.48%
16.10%
16.65%
16.78%
0.72%
0.76%
0.71%
0.74%
0.76%
0.76%
0.81%
0.87%
0.88%
0.96%
No. of Shareholders
3,32,953
3,53,952
3,54,862
3,85,547
4,34,871
4,42,881
4,25,959
4,07,444
4,22,152
4,06,280
3,95,845
4,04,832
4,26,253
4,66,987
4,39,141
4,58,323
4,92,116
4,83,029
5,00,928
4,92,129
5,06,572
5,00,743

Documents

1
Concall - Aug 2017 Aug 2017
2
Concall - Nov 2017 Nov 2017
3
Concall - Feb 2018 Feb 2018
4
Concall - May 2018 May 2018
5
Concall - Aug 2018 Aug 2018

Frequently Asked Questions about DLF Ltd

What does DLF Ltd do?
DLF Ltd with its subsidiaries, associates and JVs is engaged in real estate development, from the identification and acquisition of land to planning, execution, construction and marketing of projects. It is also engaged in business of leasing, generation of power, provision of maintenance service...
Where is DLF Ltd (DLF) listed?
DLF Ltd is listed on the Indian stock exchanges. It is listed on NSE: DLF and BSE: 532868. You can view its live share price, financials, and ratios on Tapetide.
Which sector does DLF Ltd belong to?
DLF Ltd operates in the Realty sector within the Residential Commercial Projects industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of DLF Ltd?
DLF Ltd has a market capitalisation of approximately ₹163902.99 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of DLF Ltd?
The Price-to-Earnings (PE) ratio of DLF Ltd is 37.07. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of DLF Ltd?
Over the past 52 weeks, DLF Ltd has traded between a low of ₹489.4 and a high of ₹794.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does DLF Ltd pay dividends?
Yes, DLF Ltd has a dividend yield of 1.19%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of DLF Ltd?
DLF Ltd has a Return on Equity (ROE) of 5.77%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research DLF Ltd on Tapetide?
On Tapetide, you can view DLF Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

DLF Ltd with its subsidiaries, associates and JVs is engaged in real estate development, from the identification and acquisition of land to planning, execution, construction and marketing of projects. It is also engaged in business of leasing, generation of power, provision of maintenance services, hospitality and recreational services which are related to the overall development of real estate business.[1]

Website dlf.in
CEO Mr. Rajiv Singh
Employees 3,103
Listed 2007-07-05
Face Value ₹ 2
Issued Size 2,47,53,15,036

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