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DLF Overview

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...Read More

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DLF Key Financials

Market Cap ₹172752 Cr.

Stock P/E 64.1

P/B 4

Current Price ₹697.9

Book Value ₹ 173.7

Face Value 2

52W High ₹894.5

Dividend Yield 0.86%

52W Low ₹ 601.2

DLF Share Price

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Volume
Price

DLF Quarterly Price

Show Value Show %

DLF Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 1423 1348 1521 2135 1362 1975 1529 3128 2717 1643
Other Income 98 129 122 182 367 206 209 220 264 619
Total Income 1522 1476 1644 2317 1730 2181 1737 3348 2981 2262
Total Expenditure 1027 885 1010 1381 1134 1473 1129 2150 2353 1359
Operating Profit 495 591 633 936 596 708 609 1198 628 902
Interest 85 90 84 98 101 94 94 109 79 63
Depreciation 36 37 38 37 37 38 39 37 34 30
Exceptional Income / Expenses 0 0 0 0 0 0 -302 0 0 235
Profit Before Tax 373 464 512 802 458 577 174 1053 515 1045
Provision for Tax 101 112 135 171 118 -467 -267 181 133 276
Profit After Tax 272 352 377 630 339 1043 440 871 382 769
Adjustments 255 271 280 291 306 338 618 411 381 412
Profit After Adjustments 527 623 657 921 646 1381 1059 1282 763 1180
Adjusted Earnings Per Share 2.1 2.5 2.7 3.7 2.6 5.6 4.3 5.2 3.1 4.8

DLF Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 7649 9926 8221 6707 8366 6083 5414 5717 5695 6427 7994 9017
Other Income 519 671 719 957 663 805 531 420 317 531 1002 1312
Total Income 8168 10597 8941 7664 9029 6888 5945 6138 6012 6958 8996 10328
Total Expenditure 4625 5928 4788 4329 6225 4948 3996 3975 3969 4303 5885 6991
Operating Profit 3543 4669 4153 3334 2805 1940 1949 2163 2043 2655 3111 3337
Interest 2304 2680 2980 2951 2062 1427 853 625 392 356 397 345
Depreciation 545 766 572 534 225 200 159 149 149 148 151 140
Exceptional Income / Expenses -68 -197 429 8765 127 340 -96 -224 0 0 -302 -67
Profit Before Tax 627 1026 1030 8615 646 653 840 1165 1502 2151 2261 2787
Provision for Tax 158 564 229 4323 277 2133 362 321 402 520 -434 323
Profit After Tax 469 462 800 4292 368 -1479 477 844 1101 1630 2695 2462
Adjustments 72 -156 -85 171 951 896 616 657 935 1097 1673 1822
Profit After Adjustments 540 306 715 4464 1319 -583 1094 1501 2036 2727 4368 4284
Adjusted Earnings Per Share 3 1.7 4 25 6 -2.4 4.4 6.1 8.2 11 17.6 17.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 24% 12% 6% 0%
Operating Profit CAGR 17% 13% 10% -1%
PAT CAGR 65% 47% 0% 19%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -22% 20% 27% 20%
ROE Average 7% 5% 4% 3%
ROCE Average 6% 5% 5% 7%

DLF Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 29168 24069 24573 35310 33577 34447 35344 36362 37688 39431 42550
Minority's Interest 175 126 124 49 41 18 20 19 4 1 0
Borrowings 17630 20329 23255 6239 5614 3890 3295 2189 1050 2439 1672
Other Non-Current Liabilities 1053 -1843 -1894 1901 -539 1800 2045 2192 2646 3057 2017
Total Current Liabilities 16726 14869 13538 17029 25710 15701 12577 10382 10927 14137 22200
Total Liabilities 64752 57550 59596 60585 64546 55890 53488 51167 52572 59069 68472
Fixed Assets 19619 3943 3449 2722 2626 2591 2302 2002 1917 1854 1796
Other Non-Current Assets 11184 27396 26447 28408 28136 24506 24593 25074 24885 24658 25471
Total Current Assets 33949 26211 29700 28954 31154 28630 26172 23818 25243 32018 40371
Total Assets 64752 57550 59596 60585 64546 55890 53488 51167 52572 59069 68472

DLF Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1844 2441 2652 3271 1345 4266 1608 1035 306 207 1394
Cash Flow from Operating Activities 2037 2957 -898 270 2043 356 1460 2832 2375 2539 5235
Cash Flow from Investing Activities 98 -818 872 -1965 5 6517 154 263 -463 -1529 -3543
Cash Flow from Financing Activities -1547 -1929 787 -232 875 -9522 -2184 -3828 -2013 177 -2403
Net Cash Inflow / Outflow 588 210 761 -1927 2923 -2649 -570 -733 -101 1187 -710
Closing Cash & Cash Equivalent 2432 2652 3413 1345 4266 1608 1035 306 207 1394 752

DLF Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 3.03 1.72 4.01 25.02 5.98 -2.36 4.42 6.06 8.22 11.02 17.64
CEPS(Rs) 5.69 6.88 7.69 27.05 2.69 -5.17 2.57 4.01 5.05 7.18 11.49
DPS(Rs) 2 2 2 2 2 2 2 3 4 5 6
Book NAV/Share(Rs) 153.05 134.78 137.67 193.64 148.72 139.16 142.79 146.9 152.25 159.3 171.9
Core EBITDA Margin(%) 39.53 40.27 41.76 35.45 25.6 18.66 26.19 30.48 30.31 30.65 25.42
EBIT Margin(%) 38.31 37.34 48.77 172.45 32.36 34.2 31.27 31.29 33.27 36.19 32.04
Pre Tax Margin(%) 8.19 10.34 12.52 128.46 7.72 10.74 15.51 20.37 26.38 31.04 27.25
PAT Margin (%) 6.13 4.65 9.73 64 4.4 -24.32 8.82 14.76 19.33 23.53 32.49
Cash Profit Margin (%) 13.25 12.37 16.7 71.96 7.09 -21.03 11.76 17.37 21.94 25.67 34.3
ROA(%) 0.73 0.76 1.37 7.14 0.59 -2.46 0.87 1.61 2.12 2.92 4.23
ROE(%) 1.72 1.8 3.29 14.52 1.09 -4.4 1.37 2.35 2.97 4.23 6.57
ROCE(%) 5.57 7.2 7.78 21.7 5.23 4.46 4 4.35 4.67 5.91 5.88
Receivable days 75.1 92 107.31 73.56 46.2 46.58 43.88 36.55 35.66 28.64 29.49
Inventory Days 861.33 633.33 819.86 1084.41 911 1334.97 1468.78 1314.91 1264.82 1067.24 1007.17
Payable days 348.24 175.49 228.97 215.17 104.74 146.71 167.33 213.31 294.59 262.87 197.62
PER(x) 52.2 66.76 37.11 8.06 33.73 0 64.97 62.75 43.41 81.54 38.57
Price/Book(x) 1.03 0.85 1.08 1.04 1.36 0.99 2.01 2.59 2.34 5.64 3.96
Dividend Yield(%) 1.26 1.75 1.34 0.99 0.99 1.45 0.7 0.79 1.12 0.56 0.88
EV/Net Sales(x) 6.77 4.26 6.28 7.63 6.8 6.53 14.09 17 15.66 34.63 21.01
EV/Core EBITDA(x) 14.6 9.07 12.43 15.35 20.27 20.47 39.16 44.94 43.66 83.83 53.99
Net Sales Growth(%) -7.82 29.77 -17.17 -18.42 24.74 -27.29 -10.99 5.6 -0.39 12.86 24.38
EBIT Growth(%) -1.79 26.46 8.18 188.48 -76.59 -23.16 -18.62 5.68 5.89 32.33 6.02
PAT Growth(%) -22.48 -1.39 73.21 436.38 -91.42 -501.66 132.27 76.75 30.5 48.1 65.27
EPS Growth(%) -16.42 -43.38 133.4 524.47 -76.11 -139.42 287.51 37.24 35.64 33.96 60.16
Debt/Equity(x) 0.84 1.05 1.19 0.51 0.52 0.24 0.19 0.11 0.08 0.12 0.09
Current Ratio(x) 2.03 1.76 2.19 1.7 1.21 1.82 2.08 2.29 2.31 2.26 1.82
Quick Ratio(x) 0.98 0.63 0.71 0.54 0.36 0.39 0.4 0.36 0.54 0.77 0.71
Interest Cover(x) 1.27 1.38 1.35 3.92 1.31 1.46 1.98 2.86 4.83 7.03 6.69
Total Debt/Mcap(x) 0.87 1.24 1.1 0.49 0.39 0.24 0.09 0.04 0.04 0.02 0.02

DLF Shareholding Pattern

# Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 74.95 74.08 74.08 74.08 74.08 74.08 74.08 74.08 74.08 74.08
FII 15.3 15.89 15.75 16.53 16.16 16.65 16.37 16.27 15.97 15.44
DII 4.87 5.27 5.47 4.77 4.81 4.65 4.87 4.71 5.02 5.22
Public 4.88 4.76 4.7 4.62 4.95 4.62 4.69 4.94 4.94 5.26
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

DLF News

DLF Pros & Cons

Pros

  • Debtor days have improved from 262.87 to 197.62days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 5% over the last 3 years.
  • Stock is trading at 4 times its book value.
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