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DLF Ltd.
DLFLarge CapNSEBSE
Real Estate · Realty
₹676.65up 0.50up 0.07 percentas of 28 Aug 2026
Book value ₹182.88Div yield 1.18%
Key metrics
- Market Cap
- 1,67,826.14 ₹ cr
- P/E
- 38.12 x
- P/B
- 3.70 x
- ROE
- 15.49%
- ROCE
- 17.61%
- Debt to Equity
- 0.41 x
- Net Margin
- 14.45%
- Dividend Yield
- 1.18%
- Revenue Growth (YoY)
- -52.87%
Observations
Mechanical observations generated from stored data, not analysis or opinion. Each one names the threshold that produced it — the ROCE check below uses 20%, a fixed default rather than a value tailored to this company.
- ROCE below 20% in each of the last 3 financial years (2023-2024, 2024-2025, 2025-2026).
- Revenue declined year-on-year in 1 of the last 3 years.
- Net margin grew year-on-year in each of the last 3 years.
- Promoter holding 74.1% (pledge data not available).
- Debt-to-equity 0.41 — below the Realty median of 0.44.
DLF
₹676.65up 0.07 percent
EOD Synced: 28 Aug 2026 18:30 ISTOverview & Live Price Chart
Executive Investment Verdict & Quality Synthesis
Autonomous V2Multi-dimensional quantitative synthesis across capital efficiency, forensic accounting, intrinsic valuation, and ownership governance.
Factual Quantitative Consensus
1. Capital Efficiency & MoatCapital Intensive
3.72%ROCE
ROE: 9.71%·P/B: 3.70x
2. Forensic Health & SolvencyPiotroski 6/9 · Adequate Health
6/9Piotroski Score
Altman: 3.9 (Safe Zone)
3. Valuation & DCF Spread-42.4% Valuation Premium
₹390DCF Fair Value
CMP: ₹676.7
4. Ownership & GovernanceClean Promoter Holding
74.08%Promoter Stake
Pledged: 0.0%·Inst: 18.43%
Institutional Factor Scores
QVGM Factor Grade Matrix
Institutional Multi-Factor Profile (QVGM)
Composite 0–100 percentile ranks normalized across all 500 universe constituents
Rank #10 of 13 in Real EstateQVGM 57/100
Quality (Q)61
ROE, ROCE, Margins & Cash Conversion
Value (V)52
P/E, P/B, EV/EBITDA vs Sector Benchmarks
Growth (G)58
3Y Sales & EPS Compounded Growth
Momentum (M)55
Relative Strength & Trend Position
TheScreener Radar™ 5-Pillar Quantitative Scorecard
Holistic quantitative radar evaluating fundamental quality, valuation multiples, balance sheet health, growth, and price momentum
Sector Rank:Rank #10 of 13 in Real Estate
Valuation
Moderate52/100
P/E Ratio:38.12x
P/B Ratio:3.70x
Dividend Yield:1.18%
P/E, P/B, EV/EBITDA & Dividend Yield relative to 5Y medians and sector
Growth
Moderate58/100
3Y Sales CAGR:—
3Y PAT CAGR:—
Quarterly YoY:+12.4%
3-Year Compounded Sales & Net Profit Growth trajectory
Profitability
Moderate61/100
ROE:9.7%
ROCE:3.7%
OPM %:—
Return on Equity (ROE), ROCE & Operating Margin efficiency
Solvency & Health
Moderate67/100
Piotroski F-Score:6/9
Altman Z-Score:3.87
Debt / Equity:0.00
Balance Sheet strength, Altman Z-Score & Piotroski F-Score checklist
Momentum
Moderate55/100
1Y Return:—
RSI (14):54.2
From 52W High:—
1-Year Relative Strength vs NIFTY 500, RSI-14 & 52W High distance
Quantitative Drivers & Growth Analysis
52-week corridor, deep valuation multiples, compounded CAGR trajectory, and institutional flow shifts
52-Week Low₹504.10
From 52W High-13.99%
52-Week High₹786.75
Valuation MultiplesCash Flow & Yield
PEG Ratio1.40
Earnings Yield30.91%
Price / FCF—
FCF Yield-0.32%
Payout Ratio3.83%
Net-Net Ratio-11.29
Solvency & SafetyPiotroski & Altman
Piotroski F-Score6/9
Altman Z-Score3.87
Graham Number₹927.64
1Y Flow & Margin ShiftsTrailing 12M
FII Stake:▼ 1.23%
DII Stake:▲ +0.97%
OPM Margin:▲ +0.76%
Net Margin:▲ +1.66%
Compounded Annual Growth Rate (CAGR Matrix)
Historical Fundamental Trajectory| Metric | QoQ Shift | YoY Shift | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Revenue Growth | ▼ 29.42% | ▼ 52.87% | -1.90% | 11.25% | 7.69% |
| Net Profit Growth | ▼ 37.42% | ▲ +4.09% | 1.08% | 29.44% | 32.19% |
| EPS Growth | ▼ 36.44% | ▲ +4.22% | -7.26% | 27.17% | 29.43% |
Intrinsic Valuation Models & DCF Sensitivity
Institutional DCF & Intrinsic Valuation Studio — DLF
2-Stage Discounted Cash Flow, Reverse DCF Implied Growth, and Benjamin Graham & Peter Lynch valuation benchmarks.
DCF Intrinsic Fair Value
₹398.9
Verdict:Overvalued (-41.0%)
Benjamin Graham Number
₹265.9
-60.7% vs CMPPeter Lynch Fair Value
₹85.6
-87.4% vs CMPReverse DCF Implied Growth
21.2% CAGR
Aggressive Expectations (Priced for Perfection)Valuation Spectrum PositioningCMP: ₹676.7
₹0 (Distress)CMP: ₹677DCF: ₹399Graham: ₹266
Scenario Calibration & Sensitivity Levers
Tune Discount Rate (WACC), 5-Year Growth, and Terminal Value to model bear, base, and bull cases.
Discount Rate (WACC)11.5%
Cost of Capital Hurdle
5-Year FCF Growth CAGR6.0%
Assumed stage-1 cash flow expansionTerminal Growth Rate4.5%
Long-term perpetual GDP growth rate5-Year Projected Cash Flow Schedule (₹ Cr)
| Projection Period | Growth Rate | Projected FCF | Discount Factor | Present Value |
|---|---|---|---|---|
| Year 1 | 6% | ₹6,591 | 0.8969 | ₹5,912 |
| Year 2 | 6% | ₹6,987 | 0.8044 | ₹5,620 |
| Year 3 | 6% | ₹7,406 | 0.7214 | ₹5,343 |
| Year 4 | 6% | ₹7,850 | 0.6470 | ₹5,079 |
| Year 5 | 6% | ₹8,321 | 0.5803 | ₹4,829 |
2D Sensitivity Matrix (WACC vs Terminal Growth Rate)
Click any cell to apply WACC & terminal growth scenario. Values in ₹ / share.| WACC \ g(Terminal) | 3.0% | 4.0% | 4.5% | 5.0% | 6.0% |
|---|---|---|---|---|---|
| 10.0% | ₹419 -38% | ₹474 -30% | ₹509 -25% | ₹550 -19% | ₹665 -2% |
| 11.0% | ₹366 -46% | ₹406 -40% | ₹430 -36% | ₹458 -32% | ₹532 -21% |
| 11.5% | ₹344 -49% | ₹378 -44% | ₹399 -41% | ₹423 -38% | ₹484 -29% |
| 12.0% | ₹325 -52% | ₹354 -48% | ₹372 -45% | ₹392 -42% | ₹443 -34% |
| 13.0% | ₹292 -57% | ₹314 -54% | ₹328 -52% | ₹343 -49% | ₹380 -44% |
Discounted cash flow (DCF) and valuation models are quantitative projections based on user-supplied assumptions — not a forecast, not a guarantee of future performance, and not SEBI-registered investment advice. Actual financial performance and stock price movements may differ materially.
New to intrinsic valuation models? Learn how Discounted Cash Flow and Terminal Growth rates work.Read DCF Academy Guide →
Valuation history
P/E38.12current
ReportedComputed, approximate
P/B3.70current
ReportedComputed, approximate
The dashed line is computed from historical close price divided by the most recently reported annual EPS or book value — not IndianAPI's own figure, which only ever gives a single current reading with no history behind it. Real results are typically disclosed several weeks after the fiscal year ends, so a computed point right around a year transition can lag what the market actually knew that day. The solid line is the real reported figure.
EV/EBITDA is not shown — there is no verified source for it in our data feed, and estimating it would misrepresent an estimate as a reported figure.
| Date | P/E | P/B |
|---|---|---|
| 31 Aug 2026 | 38.12 | 3.70 |
Analyst Consensus, Price Targets & Forecasts
Analyst Consensus & Recommendations
Aggregated institutional equity research ratings · 31 Aug 2026
Strong Buy(1.59 / 5)
Strong Buy:12
Buy:8
Hold:1
Sell:1
Strong Sell:0
Coverage: 22 contributing analystsScale: 1 (Strong Buy) – 5 (Strong Sell)
Ratings shown are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Risk Profile & Volatility
Statistical return volatility classification · 31 Aug 2026
Balanced risk
Low RiskModerate RiskHigh Risk
Annualised Standard Deviation:33.75%
Analyst Price Targets
12-month forward price consensus · 31 Aug 2026
Upside: +21.78%
Mean Target₹824.00vs CMP ₹676.65
High Target₹1,000.00+47.8% max upside
Low Target₹695.002.7% downside
Median Target₹810.0022 estimates
Low: ₹695.00Mean: ₹824.00High: ₹1,000.00
Mean Target Current Price (₹676.65)
Price targets are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Forward Financial Forecasts & Consensus Estimates
Institutional broker consensus estimates and forward earnings trajectory
FY2024EConsensus
Mean Estimate
₹2.65
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹2.52
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹2.13
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹3.72
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹5.50
Low:—
High:—
FY2025EConsensus
Mean Estimate
₹2.61
Low:—
High:—
FY2025E1 Analysts
Mean Estimate
₹5.58
Low:—
High:—
FY2025E2 Analysts
Mean Estimate
₹5.18
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹4.87
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹3.82
Low:—
High:—
FY2026E2 Analysts
Mean Estimate
₹3.08
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹5.01
Low:—
High:—
FY2027E1 Analysts
Mean Estimate
₹3.21
Low:—
High:—
FY2027E1 Analysts
Mean Estimate
₹3.87
Low:₹3.00
High:₹3.00
FY2027E1 Analysts
Mean Estimate
₹4.20
Low:₹4.00
High:₹4.00
FY2027E1 Analysts
Mean Estimate
₹4.37
Low:₹4.00
High:₹4.00
FY2028E1 Analysts
Mean Estimate
₹6.12
Low:₹6.00
High:₹6.00
FY2028E1 Analysts
Mean Estimate
₹6.37
Low:₹6.00
High:₹6.00
FY2028E1 Analysts
Mean Estimate
₹5.88
Low:₹5.00
High:₹5.00
FY2028E1 Analysts
Mean Estimate
₹6.12
Low:₹6.00
High:₹6.00
| Period / Fiscal Year | Consensus Mean | Bull Case (High) | Bear Case (Low) | Brokers |
|---|---|---|---|---|
| FY2024 Forecast | ₹2.65 | — | — | — |
| FY2024 Forecast | ₹2.52 | — | — | — |
| FY2024 Forecast | ₹2.13 | — | — | — |
| FY2024 Forecast | ₹3.72 | — | — | — |
| FY2025 Forecast | ₹5.50 | — | — | 2 |
| FY2025 Forecast | ₹2.61 | — | — | — |
| FY2025 Forecast | ₹5.58 | — | — | 1 |
| FY2025 Forecast | ₹5.18 | — | — | 2 |
| FY2026 Forecast | ₹4.87 | — | — | 1 |
| FY2026 Forecast | ₹3.82 | — | — | 1 |
| FY2026 Forecast | ₹3.08 | — | — | 2 |
| FY2026 Forecast | ₹5.01 | — | — | 1 |
| FY2027 Forecast | ₹3.21 | — | — | 1 |
| FY2027 Forecast | ₹3.87 | ₹3.00 | ₹3.00 | 1 |
| FY2027 Forecast | ₹4.20 | ₹4.00 | ₹4.00 | 1 |
| FY2027 Forecast | ₹4.37 | ₹4.00 | ₹4.00 | 1 |
| FY2028 Forecast | ₹6.12 | ₹6.00 | ₹6.00 | 1 |
| FY2028 Forecast | ₹6.37 | ₹6.00 | ₹6.00 | 1 |
| FY2028 Forecast | ₹5.88 | ₹5.00 | ₹5.00 | 1 |
| FY2028 Forecast | ₹6.12 | ₹6.00 | ₹6.00 | 1 |
Third-party broker forecasts compiled from institutional research houses, not IndiScreener's proprietary estimates. Provided strictly for analytical benchmarking and does not constitute investment advice.
Forensic Accounting Audit & Solvency Risk
Accounting Health & Governance Quality Radar
Algorithmic accounting analysis across balance sheet solvency, cash conversion efficiency, and ownership stability.
Clean Governance & Solvency
Financial Strengths & Catalysts
5 Factors- •Company is virtually debt-free with a Debt-to-Equity ratio of 0.01x.
- •Company has reduced borrowings by 92.5% over the last fiscal year.
- •Net profit has grown at an impressive 29.4% CAGR over 3 years.
- •Strong cash generation: Operating Cash Flow is 143.8% of reported Net Profit.
- •High promoter holding of 74.1% with zero encumbrance / pledge.
Risk Factors & Watchouts
1 Watchout- •Return on Equity (ROE) is currently modest at 9.7%.
Forensic Accounting & Health Audit
Piotroski F-Score, Altman Z-Score Distress Model & Beneish Earnings Manipulation Checks
Piotroski F-Score6 / 9
● Moderate (Neutral)
Altman Z-Score3.87
● Safe Zone
Negligible risk of financial distress over the next 2 years.
Beneish M-Score-2.83
● Low Risk (Clean Accounting)
Cash flows closely match reported earnings with conservative accruals.
Learn how Piotroski F-Score (9 criteria) and Altman Z-Score detect earnings manipulation and bankruptcy risk.Read Forensic Guide →
10-Year Financial Statements & DuPont ROE
Financial Statements
consolidated · amounts in ₹ Crores
Accounting Flow:
Wall Street Cash Flow & Free Cash Flow (FCF) Cascade
FY26 (2025-2026)3-Stage institutional flow from reported earnings to owner Free Cash Flow and capital allocation
FCF Conversion Rate (FCF / PAT)
140.9%Elite Cash Quality (>100%)
Measures how much reported accounting profit turns into real liquid cash.
Free Cash Flow Margin
79.3%of Gross Revenue
Liquid cash retained per ₹100 of top-line revenue generated.
CapEx Reinvestment Rate
2.0%of Operating Cash
Portion of operating cash reinvested in future capacity and maintenance.
Reported Net Profit (PAT)₹4,415 CrInflow
4,415
+ D&A Non-Cash Charge₹105 CrAdd-back
105
Working Capital Adjustment₹1,828 Cr+ Cash
1,828
= Operating Cash Flow (CFO)₹6,347 CrOperating Cash
6,347
- Capital Expenditures (CapEx)-₹129 CrReinvestment
129
= Free Cash Flow (FCF)₹6,218 CrFree Cash Flow
6,218
- Dividends & Debt Repayment-₹971 CrCapital Return
971
= Net Change in Cash₹5,247 CrNet Balance
5,247
Multi-Year Historical FCF vs Reported PAT Trajectory:
Free Cash Flow (FCF) Reported Net Profit (PAT)
| Metric | 2014-201531 Mar 2015 | 2015-201631 Mar 2016 | 2016-201731 Mar 2017 | 2017-201831 Mar 2018 | 2018-201931 Mar 2019 | 2019-202031 Mar 2020 | 2020-202131 Mar 2021 | 2021-202231 Mar 2022 | 2022-202331 Mar 2023 | 2023-202431 Mar 2024 | 2024-202531 Mar 2025 | 2025-202631 Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | ₹8,366.09 | ₹6,082.77 | ₹5,414.06 | ₹5,717.39 | ₹5,694.83 | ₹6,254.58 | ₹7,993.66 | ₹7,841.46 |
| Operating profit | — | — | — | — | ₹1,923.91 | ₹1,317.58 | ₹1,287.62 | ₹1,417.75 | ₹1,621.88 | ₹2,001.03 | ₹1,808.70 | ₹1,834.17 |
| OPM | — | — | — | — | 23.00% | 21.66% | 23.78% | 24.80% | 28.48% | 31.99% | 22.63% | 23.39% |
| Net profit | — | — | — | — | ₹1,319.20 | ₹-583.20 | ₹1,093.60 | ₹1,500.85 | ₹2,035.83 | ₹2,727.11 | ₹4,367.62 | ₹4,414.68 |
| EPS | — | — | — | — | 6.18 | 4.60 | 4.71 | 6.77 | 8.32 | 11.02 | 18.45 | 17.11 |
| Net margin | — | — | — | — | 15.77% | -9.59% | 20.20% | 26.25% | 35.75% | 43.60% | 54.64% | 56.30% |
| ROE | — | — | — | — | 3.93% | -1.69% | 3.09% | 4.13% | 5.40% | 6.92% | 10.26% | 9.71% |
| ROCE | 6.00% | 8.00% | 7.00% | 5.00% | 4.68% | 3.17% | 3.05% | 3.37% | 3.77% | 4.34% | 3.83% | 3.72% |
| Debt / equity | — | — | — | — | 0.51 | 0.24 | 0.19 | 0.12 | 0.09 | 0.12 | 0.10 | 0.01 |
Compounded growth (CAGR)
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Revenue | -1.90% | 11.25% | 7.69% | — |
| Net profit | 1.08% | 29.44% | 32.19% | — |
| EPS | -7.26% | 27.17% | 29.43% | — |
Each column only appears when 12 real reported years actually support it — never extrapolated from fewer.
Balance sheet
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | — | — | — | ₹66,922.46 | ₹57,229.79 | ₹54,809.67 | ₹52,503.40 | ₹53,927.99 | ₹60,262.40 | ₹69,475.37 | ₹74,874.77 |
| Total liabilities | — | — | — | — | ₹33,345.91 | ₹22,783.04 | ₹19,465.74 | ₹16,141.11 | ₹16,240.46 | ₹20,831.58 | ₹26,925.15 | ₹29,401.40 |
| Total equity | — | — | — | — | ₹33,576.54 | ₹34,446.74 | ₹35,343.93 | ₹36,362.28 | ₹37,687.53 | ₹39,430.81 | ₹42,550.22 | ₹45,473.37 |
| Total debt | — | — | — | — | ₹17,222.46 | ₹8,339.84 | ₹6,885.62 | ₹4,181.84 | ₹3,334.00 | ₹4,833.86 | ₹4,102.73 | ₹305.89 |
| Cash | — | — | — | — | ₹1,879.16 | ₹232.93 | ₹325.43 | ₹164.18 | ₹152.69 | ₹108.45 | ₹239.01 | ₹183.77 |
| Current assets | — | — | — | — | ₹33,783.88 | ₹28,630.48 | ₹26,172.05 | ₹23,818.36 | ₹25,242.50 | ₹32,018.40 | ₹40,371.19 | ₹39,422.25 |
| Current liabilities | — | — | — | — | ₹25,853.19 | ₹15,701.23 | ₹12,576.62 | ₹10,382.30 | ₹10,927.07 | ₹14,136.61 | ₹22,200.14 | ₹25,601.00 |
| Inventory | — | — | — | — | ₹22,008.55 | ₹22,486.24 | ₹21,086.64 | ₹20,106.99 | ₹19,361.23 | ₹21,154.13 | ₹24,621.48 | ₹24,717.48 |
| Receivables | — | — | — | — | ₹850.05 | ₹1,434.73 | ₹1,310.48 | ₹1,264.58 | ₹1,344.39 | ₹1,290.23 | ₹1,501.76 | ₹2,838.66 |
| Payables | — | — | — | — | ₹1,277.20 | ₹1,056.26 | ₹1,234.46 | ₹1,528.73 | ₹1,643.70 | ₹1,787.82 | ₹2,261.03 | ₹1,719.59 |
| Net PP&E | — | — | — | — | ₹1,561.51 | ₹1,584.71 | ₹1,306.01 | ₹1,190.21 | ₹891.80 | ₹841.84 | ₹798.46 | ₹850.26 |
| Retained earnings | — | — | — | — | ₹11,046.15 | ₹8,908.99 | ₹9,805.22 | ₹10,812.89 | ₹12,123.36 | ₹13,859.94 | ₹16,989.73 | ₹19,912.65 |
Cash flow
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | — | — | ₹2,041.13 | ₹346.97 | ₹1,456.69 | ₹2,835.83 | ₹2,377.28 | ₹2,538.54 | ₹5,303.28 | ₹6,347.45 |
| Capital expenditure | — | — | — | — | ₹-604.14 | ₹-206.31 | ₹-13.51 | ₹-148.43 | ₹-63.74 | ₹-115.52 | ₹-96.02 | ₹-129.19 |
| Free cash flow | — | — | — | — | ₹1,436.99 | ₹140.66 | ₹1,443.18 | ₹2,687.40 | ₹2,313.54 | ₹2,423.02 | ₹5,207.26 | ₹6,218.26 |
| OCF / net profit | — | — | — | — | 1.55 | -0.59 | 1.33 | 1.89 | 1.17 | 0.93 | 1.21 | 1.44 |
| FCF / Capex intensity | — | — | — | — | 7.22 | 3.39 | 0.25 | 2.60 | 1.12 | 1.85 | 1.20 | 1.65 |
Income statement detail
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | — | — | — | — | ₹3,477.24 | ₹2,788.63 | ₹2,648.56 | ₹3,106.81 | ₹3,451.40 | ₹3,718.27 | ₹4,090.19 | ₹3,220.95 |
| Cost of revenue | — | — | — | — | ₹4,888.85 | ₹3,294.15 | ₹2,765.50 | ₹2,610.58 | ₹2,243.43 | ₹2,536.31 | ₹3,903.47 | ₹4,620.52 |
| EBITDA | — | — | — | — | ₹2,059.94 | ₹1,476.19 | ₹1,413.86 | ₹1,534.06 | ₹1,727.98 | ₹2,106.78 | ₹1,915.85 | ₹1,939.23 |
| Income before tax | — | — | — | — | ₹645.65 | ₹653.46 | ₹839.57 | ₹1,164.59 | ₹1,502.42 | ₹2,150.55 | ₹2,260.62 | ₹2,931.82 |
| Interest expense | — | — | — | — | ₹110.78 | ₹92.38 | ₹263.27 | ₹110.21 | ₹67.48 | — | — | — |
| Tax expense | — | — | — | — | ₹277.37 | ₹216.67 | ₹362.28 | ₹320.97 | ₹401.50 | ₹520.13 | ₹-433.89 | ₹309.97 |
| D&A | — | — | — | — | ₹136.03 | ₹158.61 | ₹126.24 | ₹116.31 | ₹106.10 | ₹105.75 | ₹107.15 | ₹105.06 |
| EBITDA margin | — | — | — | — | 24.62% | 24.27% | 26.11% | 26.83% | 30.34% | 33.68% | 23.97% | 24.73% |
Financial ratios
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | — | 1.31 | 1.82 | 2.08 | 2.29 | 2.31 | 2.26 | 1.82 | 1.54 |
| Quick ratio | — | — | — | — | 0.46 | 0.39 | 0.40 | 0.36 | 0.54 | 0.77 | 0.71 | 0.57 |
| Interest coverage | — | — | — | — | 17.37 | 14.26 | 4.89 | 12.86 | 24.04 | — | — | — |
| Inventory days | — | — | — | — | 1,643.15 | 2,491.53 | 2,783.09 | 2,811.27 | 3,150.02 | 3,044.29 | 2,302.27 | 1,952.57 |
| Receivable days | 76.00 | 126.00 | 63.00 | 70.00 | 37.09 | 86.09 | 88.35 | 80.73 | 86.17 | 75.29 | 68.57 | 132.13 |
| Payable days | — | — | — | — | 95.36 | 117.04 | 162.93 | 213.74 | 267.43 | 257.28 | 211.42 | 135.84 |
| Cash conversion cycle | 76.00 | 126.00 | 63.00 | 70.00 | 1,584.88 | 2,460.59 | 2,708.51 | 2,678.26 | 2,968.76 | 2,862.30 | 2,159.42 | 1,948.86 |
| Working capital days | 686.00 | 290.00 | 533.00 | 495.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 | 30.00 |
| Fixed asset turnover | — | — | — | — | 5.36 | 3.84 | 4.15 | 4.80 | 6.39 | 7.43 | 10.01 | 9.22 |
| ROA | — | — | — | — | 1.97% | -1.02% | 2.00% | 2.86% | 3.78% | 4.53% | 6.29% | 5.90% |
| ROIC | — | — | — | — | 2.24% | 2.07% | 1.75% | 2.54% | 2.91% | 3.44% | 4.64% | 3.60% |
| Gross margin | — | — | — | — | 41.56% | 45.84% | 48.92% | 54.34% | 60.61% | 59.45% | 51.17% | 41.08% |
DuPont 3-Stage ROE Factor Decomposition
Deconstructing Return on Equity into Profitability, Asset Efficiency, and Financial Leverage
High Quality Moat (Margin Driven, Low Debt Risk)FY2025-2026
Net marginProfitability
56.30%
Net Profit generated per ₹100 of revenue (Profitability)
×
Asset turnoverEfficiency
0.10
Revenue generated per ₹1 of total assets (Capital Efficiency)
×
Equity multiplierLeverage
1.65
Total assets supported per ₹1 of shareholder equity (Leverage)
=
Implied DuPont ROEFinal Output
9.71%
Reported: 9.71%
Explore the 3-Stage DuPont Formula: Net Margin × Asset Turnover × Leverage Multiplier.Read DuPont Guide →
Corporate Actions, Dividends & Capital Changes
Chronological Corporate Actions Registry
Historical stock splits, bonus shares, rights issues, and corporate schemes
| Year | Execution Date | Action Type | Ratio / Term |
|---|---|---|---|
| 2026 | 27 Jul 2026 | dividend | 400% |
| 2025 | 28 Jul 2025 | dividend | 300% |
| 2024 | 31 Jul 2024 | dividend | 250% |
| 2023 | 28 Jul 2023 | dividend | 200% |
| 2022 | 03 Aug 2022 | dividend | 150% |
| 2021 | 24 Aug 2021 | dividend | 100% |
| 2020 | 16 Sept 2020 | dividend | 40% |
| 13 Feb 2020 | dividend | 60% | |
| 2019 | 23 Jul 2019 | dividend | 100% |
| 2018 | 17 Sept 2018 | dividend | 40% |
| 28 Mar 2018 | dividend | 60% | |
| 2017 | 21 Sept 2017 | dividend | 100% |
| 2016 | 29 Mar 2016 | dividend | 100% |
| 2015 | 20 Aug 2015 | dividend | 100% |
| 2014 | 21 Aug 2014 | dividend | 100% |
| 2013 | 01 Aug 2013 | dividend | 100% |
| 2012 | 28 Aug 2012 | dividend | 100% |
| 2011 | 29 Jul 2011 | dividend | 100% |
| 2010 | 21 Sept 2010 | dividend | 100% |
| 2009 | 24 Sept 2009 | dividend | 100% |
| 2008 | 23 Sept 2008 | dividend | 100% |
| 2007 | 06 Nov 2007 | dividend | 100% |
| 20 Sept 2007 | dividend | 100% |
Dividend Intelligence & Capital Return History
Historical cash payout track record across 6 dividend distributions
Latest Year DPS:₹8.00
Yield on CMP:1.18%
3Y Dividend CAGR:+26.0%
Annual Dividend Payout Progression (Per Share)Total Cumulative DPS: ₹28.00
₹8.0
2026
₹6.0
2025
₹5.0
2024
₹4.0
2023
₹3.0
2022
₹2.0
2021
| Ex-Date | Amount (Per Share) | Dividend Type |
|---|---|---|
| 27 Jul 2026 | ₹8.00 | Final |
| 28 Jul 2025 | ₹6.00 | Final |
| 31 Jul 2024 | ₹5.00 | Final |
| 28 Jul 2023 | ₹4.00 | Final |
| 02 Aug 2022 | ₹3.00 | Final |
| 23 Aug 2021 | ₹2.00 | Final |
Industry Peer Group & Valuation Spread
Compare valuation multiples and market cap relative to sector competitors
RealtyCompare Peers in Studio
Market Cap1,67,826.14 ₹ cr
Beats 100% of 16 industry peers · median 14,220.78 ₹ cr
P/E38.12 x
Beats 58% of 12 industry peers · median 36.71 x
P/B3.70 x
Beats 50% of 14 industry peers · median 3.53 x
ROE15.49%
Beats 63% of 16 industry peers · median 10.80%
ROCE17.61%
Beats 56% of 16 industry peers · median 14.41%
Debt to Equity0.41 x
Beats 50% of 16 industry peers · median 0.44 x
Net Margin14.45%
Beats 38% of 16 industry peers · median 16.22%
Dividend Yield1.18%
Beats 100% of 10 industry peers · median 0.32%
Revenue Growth (YoY)-52.87%
Beats 13% of 16 industry peers · median 16.21%
| Company | Market Cap ▼ | P/E | P/B |
|---|---|---|---|
| ₹1.27 L | 36.39 | 5.35 | |
Prestige Estates Projects Ltd.PRESTIGE | ₹68,402.12 | 58.48 | 4.30 |
Oberoi Realty Ltd.OBEROIRLTY | ₹68,051.79 | 27.12 | 3.79 |
Phoenix Mills Ltd.PHOENIXLTD | ₹67,848.81 | — | — |
Godrej Properties Ltd.GODREJPROP | ₹60,579.66 | 33.04 | 3.19 |
Peers are chosen strictly by industry classification. A classification doesn't always describe what a company actually competes in, but gives an objective starting point across the universe.
Regulatory Filings & Market Intelligence
Corporate Filings & Document Vault
SEBI LODR VerifiedAudited Annual Reports, Investor Decks, Earnings Concall Transcripts, and Board Resolutions for DLF Ltd. (DLF)
Indexed Documents5 Filings
Latest Disclosure02 Aug 2026
Press Release02 Aug 2026
DLF Ltd: Press Release: Business Updates and New Strategic Initiatives
Investor Deck29 Jul 2026
DLF Ltd: Investor Presentation on Q4 Financial Results and Growth Outlook
Board Outcome21 Jun 2026
DLF Ltd: Outcome of Board Meeting for Approval of Audited Financial Results
Secretarial Filing22 May 2026
DLF Ltd: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
News
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As retail consumption surges, DLF is repositioning its malls to focus on accessible luxury while maintaining high-end offerings. With ambitious expansion plans, including a new mall in Goa, the developer aims to enhance consumer spending experiences and capitalize on a growing affluent market.
- IndianAPITop realtors line up massive launches to meet FY27 sales aim
After a weak Q1 marked by delayed launches, India's top four listed developers are betting on over ₹1 trillion of premium project launches to meet their ambitious FY27 sales targets. The success of these launches will be crucial for them to meet their annual sales targets.
- IndianAPISlow start to FY27 could put DLF in a spot unless launches pick pace
As per DLF, FY28 would be an inflection point from a reporting perspective as large projects contribute to the P&L, and thus, unlock the significant gross margin potential of around ₹39,000 crore.
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- IndianAPIStock market today: Gift Nifty hints a positive start; eight day trading stocks to buy on Monday, 27 July
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- IndianAPILodha Developers' Q1 net profit doubles; pre-sales at ₹4629 crore
The developer is targeting ₹24,000 crore of pre-sales from housing projects in the current financial year, compared to bookings of ₹20,530 crore in FY26. Net debt of the company also reduced by ₹446 crore to ₹4,931 crore during the quarter.
- IndianAPIThe Street resets its Nifty 500 bets. Here are the winners
The optimism reflects the underperformance of Indian equities relative to other emerging markets and the US, along with a moderation in valuations.
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Market strategy: Both TCS and SBI Life have been assigned a weight of 150 basis points (bps) in the brokerage’s model portfolio. The brokerage, however, clarified that TCS's inclusion in the model portfolio should not be interpreted as a broader endorsement of the IT services sector.
- IndianAPIMadhusudan Kela buys ₹120 crore flat in DLF ‘The Dahlias’ in Gurugram
Veteran investor Madhusudan Kela's 6,233 square feet flat is on the 20th floor in Tower 1 of DLF Dahlias, which is currently under-construction, documents show.
- IndianAPIAirbnb leases 46,000 sq ft for GCC in DLF Cyber City Gurugram
Airbnb will pay a monthly rent of around ₹61.53 lakh for a five-year tenure, with a 5% rent escalation annually
- IndianAPIStocks to buy for long term: DLF, BEL, NTPC, Coal India … Master Capital Services' expert recommends these 10 shares
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- IndianAPIDLF is not aggressively chasing pre-sales because its goal post is better margins
DLF braces for another year of flat pre-sales, prioritizing margins and free cash flow over aggressive growth even as earnings visibility remains weak till FY28.
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DLF's conservative guidance reflects constraints in construction execution capacity across the real estate industry.
- IndianAPIDLF's sales bookings drop in FY26
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- IndianAPIDLF Q4 Results: Net profit flat at ₹1,265 crore, revenue falls 42% YoY; ₹8 dividend announced
DLF reported Q4 FY26 revenue of ₹2,172 crore, an 8% growth sequentially but down 42% YoY. Net profit before JV profits declined 7% sequentially to ₹720 crore, while consolidated PAT rose to ₹1,265 crore, up 5% sequentially but down 2.3% YoY.
- IndianAPIBuy or sell: Gift Nifty signals muted start, Vaishali Parekh recommends three intraday stocks for today — 13 May 2026
Buy or sell: Vaishali Parekh recommends three intraday stocks for today — Axis Bank, DLF, and PNB
For informational and educational purposes only. Not investment advice. Data may be delayed or incomplete. Consult a SEBI-registered investment adviser before making investment decisions.