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DLF

₹869 12.4 | 1.4%

Market Cap ₹215105 Cr.

Stock P/E 132.0

P/B 5.3

Current Price ₹869

Book Value ₹ 162.5

Face Value 2

52W High ₹967

Dividend Yield 0.58%

52W Low ₹ 641.3

DLF Research see more...

Overview Inc. Year: 1963Industry: Construction - Real Estate

DLF Ltd is an India-based company, which is engaged in the enterprise of colonization and property development. The operations of the Company include all components of real estate development, from the identity and acquisition of land, to making plans, execution, construction and advertising and marketing of projects. It is likewise engaged in the business of leasing, generating power, hospitality and leisure activities. Its homes portfolio ranges from luxury residential complexes to smart townships. Its work places portfolio is an incorporated blend of office areas with food and beverage and entertainment services. It has evolved approximately 27.96 million sq meter residential vicinity and 4.2 million square/feet retail space. The Company's subsidiaries are Aaralyn Builders & Developers Private Limited, Abheek Real Estate Private Limited, Abhigyan Builders & Developers Private Limited and Americus Real Estate Private Limited, amongst others.

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DLF Share Price

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DLF Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 1442 1302 1495 1456 1423 1348 1521 2135 1362 1975
Other Income 75 58 65 120 98 129 122 182 367 206
Total Income 1516 1361 1560 1576 1522 1476 1644 2317 1730 2181
Total Expenditure 1028 866 1018 1058 1027 885 1010 1381 1134 1473
Operating Profit 488 495 542 518 495 591 633 936 596 708
Interest 105 107 95 85 85 90 84 98 101 94
Depreciation 37 37 39 36 36 37 38 37 37 38
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 346 351 408 397 373 464 512 802 458 577
Provision for Tax 88 91 110 113 101 112 135 171 118 -467
Profit After Tax 258 260 298 285 272 352 377 630 339 1043
Adjustments 211 217 222 285 255 271 280 291 306 338
Profit After Adjustments 470 477 519 570 527 623 657 921 646 1381
Adjusted Earnings Per Share 1.9 1.9 2.1 2.3 2.1 2.5 2.7 3.7 2.6 5.6

DLF Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 8298 7649 9926 8221 6707 8366 6083 5414 5717 5695 6427 6993
Other Income 1492 519 671 719 957 663 805 531 420 317 531 877
Total Income 9790 8168 10597 8941 7664 9029 6888 5945 6138 6012 6958 7872
Total Expenditure 5813 4625 5928 4788 4329 6225 4948 3996 3975 3969 4303 4998
Operating Profit 3977 3543 4669 4153 3334 2805 1940 1949 2163 2043 2655 2873
Interest 2463 2304 2680 2980 2951 2062 1427 853 625 392 356 377
Depreciation 663 545 766 572 534 225 200 159 149 149 148 150
Exceptional Income / Expenses -330 -68 -197 429 8765 127 340 -96 -224 0 0 0
Profit Before Tax 521 627 1026 1030 8615 646 653 840 1165 1502 2151 2349
Provision for Tax -84 158 564 229 4323 277 2133 362 321 402 520 -43
Profit After Tax 604 469 462 800 4292 368 -1479 477 844 1101 1630 2389
Adjustments 42 72 -156 -85 171 951 896 616 657 935 1097 1215
Profit After Adjustments 646 540 306 715 4464 1319 -583 1094 1501 2036 2727 3605
Adjusted Earnings Per Share 3.6 3 1.7 4 25 6 -2.4 4.4 6.1 8.2 11 14.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 13% 6% -5% -3%
Operating Profit CAGR 30% 11% -1% -4%
PAT CAGR 48% 51% 35% 10%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 30% 30% 32% 18%
ROE Average 4% 3% 1% 3%
ROCE Average 6% 5% 5% 7%

DLF Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 29194 29168 24069 24573 35310 33577 34447 35344 36362 37688 39431
Minority's Interest 202 175 126 124 49 41 18 20 19 4 1
Borrowings 13579 17630 20329 23255 6239 5614 3890 3295 2189 1050 2439
Other Non-Current Liabilities 1252 1053 -1843 -1894 1901 -539 1800 2045 2192 2646 3057
Total Current Liabilities 19257 16726 14869 13538 17029 25710 15701 12577 10382 10927 14137
Total Liabilities 63485 64752 57550 59596 60585 64546 55890 53488 51167 52572 59069
Fixed Assets 18835 19619 3943 3449 2722 2626 2591 2302 2002 1917 1854
Other Non-Current Assets 10227 11184 27396 26447 28408 28136 24506 24593 25074 24885 24658
Total Current Assets 34423 33949 26211 29700 28954 31154 28630 26172 23818 25243 32018
Total Assets 63485 64752 57550 59596 60585 64546 55890 53488 51167 52572 59069

DLF Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 984 1844 2441 2652 3271 1345 4266 1608 1035 306 207
Cash Flow from Operating Activities 1468 2037 2957 -898 270 2043 356 1460 2832 2375 2539
Cash Flow from Investing Activities 3924 98 -818 872 -1965 5 6517 154 263 -463 -1529
Cash Flow from Financing Activities -4532 -1547 -1929 787 -232 875 -9522 -2184 -3828 -2013 177
Net Cash Inflow / Outflow 860 588 210 761 -1927 2923 -2649 -570 -733 -101 1187
Closing Cash & Cash Equivalent 1844 2432 2652 3413 1345 4266 1608 1035 306 207 1394

DLF Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 3.63 3.03 1.72 4.01 25.02 5.98 -2.36 4.42 6.06 8.22 11.02
CEPS(Rs) 7.11 5.69 6.88 7.69 27.05 2.69 -5.17 2.57 4.01 5.05 7.18
DPS(Rs) 2 2 2 2 2 2 2 2 3 4 5
Book NAV/Share(Rs) 153.17 153.05 134.78 137.67 193.64 148.72 139.16 142.79 146.9 152.25 159.3
Core EBITDA Margin(%) 29.95 39.53 40.27 41.76 35.45 25.6 18.66 26.19 30.48 30.31 33.04
EBIT Margin(%) 35.96 38.31 37.34 48.77 172.45 32.36 34.2 31.27 31.29 33.27 39.01
Pre Tax Margin(%) 6.28 8.19 10.34 12.52 128.46 7.72 10.74 15.51 20.37 26.38 33.46
PAT Margin (%) 7.28 6.13 4.65 9.73 64 4.4 -24.32 8.82 14.76 19.33 25.37
Cash Profit Margin (%) 15.27 13.25 12.37 16.7 71.96 7.09 -21.03 11.76 17.37 21.94 27.67
ROA(%) 0.95 0.73 0.76 1.37 7.14 0.59 -2.46 0.87 1.61 2.12 2.92
ROE(%) 2.29 1.72 1.8 3.29 14.52 1.09 -4.4 1.37 2.35 2.97 4.23
ROCE(%) 5.75 5.57 7.2 7.78 21.7 5.23 4.46 4 4.35 4.67 5.91
Receivable days 70.7 75.1 92 107.31 73.56 46.2 46.58 43.88 36.55 35.66 30.87
Inventory Days 794.7 861.33 633.33 819.86 1084.41 911 1334.97 1468.78 1314.91 1264.82 1150.47
Payable days 343.64 348.24 175.49 228.97 215.17 104.74 146.71 167.33 213.31 294.59 273.43
PER(x) 48.7 52.2 66.76 37.11 8.06 33.73 0 64.97 62.75 43.41 81.54
Price/Book(x) 1.15 1.03 0.85 1.08 1.04 1.36 0.99 2.01 2.59 2.34 5.64
Dividend Yield(%) 1.13 1.26 1.75 1.34 0.99 0.99 1.45 0.7 0.79 1.12 0.56
EV/Net Sales(x) 6.41 6.77 4.26 6.28 7.63 6.8 6.53 14.09 17 15.66 34.63
EV/Core EBITDA(x) 13.37 14.6 9.07 12.43 15.35 20.27 20.47 39.16 44.94 43.66 83.83
Net Sales Growth(%) 6.76 -7.82 29.77 -17.17 -18.42 24.74 -27.29 -10.99 5.6 -0.39 12.86
EBIT Growth(%) -4.36 -1.79 26.46 8.18 188.48 -76.59 -23.16 -18.62 5.68 5.89 32.33
PAT Growth(%) -11.22 -22.48 -1.39 73.21 436.38 -91.42 -501.66 132.27 76.75 30.5 48.1
EPS Growth(%) -13.45 -16.42 -43.38 133.4 524.47 -76.11 -139.42 287.51 37.24 35.64 33.96
Debt/Equity(x) 0.77 0.84 1.05 1.19 0.51 0.52 0.24 0.19 0.11 0.08 0.12
Current Ratio(x) 1.79 2.03 1.76 2.19 1.7 1.21 1.82 2.08 2.29 2.31 2.26
Quick Ratio(x) 0.83 0.98 0.63 0.71 0.54 0.36 0.39 0.4 0.36 0.54 0.77
Interest Cover(x) 1.21 1.27 1.38 1.35 3.92 1.31 1.46 1.98 2.86 4.83 7.03
Total Debt/Mcap(x) 0.71 0.87 1.24 1.1 0.49 0.39 0.24 0.09 0.04 0.04 0.02

DLF Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 74.95 74.95 74.95 74.95 74.95 74.08 74.08 74.08 74.08 74.08
FII 14.93 14.9 14.84 14.66 15.3 15.89 15.75 16.53 16.16 16.65
DII 4.57 4.8 5.09 5.22 4.87 5.27 5.47 4.77 4.81 4.65
Public 5.56 5.35 5.12 5.17 4.88 4.76 4.7 4.62 4.95 4.62
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 34% CAGR over last 5 years
  • Debtor days have improved from 294.59 to 273.43days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 3% over the last 3 years.
  • Stock is trading at 5.3 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

DLF News

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