MarketFriction

DLF Ltd

NSE DLF · BSE 532868 · Residential, Commercial Projects
₹658.40 -2.31%
NSE close2026-10-01
52 week range489.40 - 786.50
Market cap₹1,61,638 Cr.
P/E37.6
Nifty Next 50Nifty 100Nifty 200Nifty 500Nifty RealtyNifty InfrastructureNifty India Consumption No price band Delivery 56.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,3481,5212,1351,3621,9751,5293,1282,7171,6432,0201,8141,280
Expenses8851,0101,3811,1341,4731,1292,1502,3531,3591,6301,4031,130
Operating Profit462511754229502400978364284390411150
OPM %34%34%35%17%25%26%31%13%17%19%23%12%
Other Income129122182367206-94220264854399308325
Interest90849810194941097963362118
Depreciation373837373839373430304835
Profit before tax4645128024585771741,0535151,045723649423
Tax %24%26%21%26%-81%-154%17%26%26%-1%-14%27%
Net Profit6226569206451,3811,0591,2827631,1801,2031,269794
EPS in Rs2.522.653.722.615.584.285.183.084.774.865.123.21
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9,9268,2216,7078,3666,0835,4145,7175,6956,4277,9948,1946,758
Expenses5,9604,7754,3296,2184,9373,9453,9743,9694,3035,8856,7465,523
Operating Profit3,9663,4462,3782,1481,1461,4691,7431,7262,1242,1091,4491,234
OPM %40%42%35%26%19%27%30%30%33%26%18%18%
Other Income5061,1359,7227841,1353831953175317001,8251,886
Interest2,6802,9802,9512,0621,427853625392356397199138
Depreciation766572534225200159149149148151142143
Profit before tax1,0261,0308,6156466538401,1651,5022,1512,2612,9322,839
Tax %55%22%50%43%326%43%28%27%24%-19%11%
Net Profit3057084,4771,314-5901,0831,5002,0342,7244,3674,4154,446
EPS in Rs1.724.0125.025.98-2.364.426.068.2211.0217.6417.8317.96
Dividend Payout %117%50%8%33%-85%45%49%49%45%34%45%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-2%9%13%-28%
Compounded Profit Growth29%29%27%2%
Stock Price CAGR16%9%7%-8%
Return on Equity5%8%9%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital356357357357441495495495495495495495
Reserves27,01323,71224,21634,95433,13533,95234,84935,86737,19238,93642,05544,978
Borrowings24,49525,26429,20217,49117,2228,1036,8864,1823,3344,8344,103306
Other Liabilities14,39812,39610,1797,78315,68413,34111,25810,62311,55114,80421,81927,685
Total Liabilities66,26261,72963,95460,58566,48355,89053,48851,16752,57259,06968,47273,465
Fixed Assets19,6193,94324,6408,0826,3225,1874,8564,8624,7853,8803,5024,114
CWIP5,9011,779153137103899581617186162
Investments62321,3101,20920,83221,00518,56619,74619,77919,48120,13821,33621,692
Other Assets40,11934,69737,95231,53339,05332,04928,79126,44428,24534,98143,54947,497
Total Assets66,26261,72963,95460,58566,48355,89053,48851,16752,57259,06968,47273,465
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,0372,957-8982702,0433561,4602,8322,3752,5395,2356,347
Cash from Investing Activity98-818872-2,10236,508150267-461-1,529-3,475721
Cash from Financing Activity-1,547-1,929787-232875-9,522-2,184-3,828-2,013177-2,403-5,547
Net Cash Flow588210761-2,0642,921-2,658-573-729-981,186-6421,522
Free Cash Flow1,1982,371-1,101-4551,4742171,5292,6842,3213,1665,1406,231
CFO/OP89%91%-17%29%106%35%72%150%143%132%254%484%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days7612663703643393635313738
Inventory Days
Days Payable
Cash Conversion Cycle7612663703643393635313738
Working Capital Days686290533495133612788799742745615245
ROCE %6%8%7%5%5%4%4%5%5%6%7%6%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.08%74.08%74.08%74.08%74.08%74.08%74.08%74.08%74.08%74.08%74.08%74.08%
FIIs15.89%15.75%16.53%16.17%16.66%16.37%16.27%15.98%15.46%14.82%13.54%12.31%
DIIs5.27%5.47%4.77%4.81%4.66%4.87%4.72%5.01%5.21%5.78%6.94%8.03%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%
Public4.76%4.72%4.62%4.95%4.62%4.69%4.93%4.93%5.25%5.34%5.43%5.56%
No. of Shareholders3,95,8454,04,8324,26,2534,66,9874,39,1414,58,3234,92,1164,83,0295,00,9284,92,1295,06,5725,00,743

Fundamentals

Market Cap₹ 1,61,638 Cr.
Current Price₹ 653
Stock P/E37.6
Book Value₹ 184
ROCE6.32 %
ROE9.50 %
Dividend Yield1.23 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-28%
Compounded Profit Growth (TTM)2%
Consolidated figures.
Valuation
Market capRs 162,975 Cr
Enterprise valueRs 155,534 Cr
P/E (TTM)36.66x
Price to book3.58x
Price to sales24.12x
EV / EBITDA49.84x
EV / EBIT52.24x
EV / sales23.02x
Price to cash flow25.68x
Earnings yield2.73%
Dividend yield1.22%
P/E, 3-year average49.42x
P/B, 3-year average4.11x
P/E, 5-year average50.87x
P/B, 5-year average3.45x
Profitability
Operating margin (excl. other income)17.68%
Operating margin (incl. other income)39.95%
EBITDA margin46.18%
Pre-tax margin42.02%
Net profit margin65.79%
Net margin, latest quarter62.01%
ROE10.03%
ROCE6.77%
ROA6.22%
ROE, 3-year average9.25%
ROCE, 3-year average6.17%
ROA, 3-year average5.99%
ROE, 5-year average7.49%
ROCE, 5-year average5.49%
ROA, 5-year average4.95%
ROIC (approx.)7.00%
Tax rate10.57%
Other income / net worth4.01%
Growth
Sales growth (latest year)2.51%
Profit growth (latest year)1.08%
Sales CAGR, 3 years12.89%
Sales CAGR, 5 years8.64%
Profit CAGR, 3 years29.44%
Profit CAGR, 5 years32.19%
Sales growth QoQ-29.42%
Profit growth QoQ-37.42%
Sales growth YoY (latest quarter)-52.87%
Profit growth YoY (latest quarter)4.09%
Per share
EPS (TTM)Rs 17.96
EPS (latest year)Rs 17.83
EPS (latest quarter)Rs 3.21
EPS, 3-year averageRs 15.50
EPS, 5-year averageRs 12.16
Book value per shareRs 183.71
Sales per shareRs 27.30
Cash flow per shareRs 25.64
Free cash flow per shareRs 25.17
Dividend per share (latest year)Rs 8.00
Dividend per share, 3-year averageRs 6.33
Dividend per share, 5-year averageRs 5.20
Dividends
Dividend payout44.86%
Dividend payout, 3-year average41.41%
Dividend payout, 5-year average44.47%
Efficiency
Asset turnover0.11x
Fixed asset turnover1.99x
Inventory turnover0.20x
Inventory days1785 days
Debtor days38 days
Debtors turnover9.67x
Cash conversion cycle38 days
Working capital days245 days
Leverage
Total debtRs 306 Cr
Cash and bankRs 7,746 Cr
Net debtRs -7,441 Cr
Debt to equity0.01x
Net debt / EBITDA-2.38x
Interest coverage21.56x
Current ratio (filing 2026-03-31)1.59x
Quick ratio (filing 2026-03-31)0.62x
Trade payables (filing 2026-03-31)Rs 1,720 Cr
Owners' fund to total sources61.90%
Debt to assets0.42%
Cash flow
Cash from Operating Activity (latest year)Rs 6,347 Cr
Cash from Investing Activity (latest year)Rs 721 Cr
Cash from Financing Activity (latest year)Rs -5,547 Cr
Net Cash Flow (latest year)Rs 1,522 Cr
Free cash flow (latest year)Rs 6,231 Cr
FCFE (approx.: FCF + change in debt)Rs 2,434 Cr
Cash from ops / profit, 5 years1.29x
Sales to cash flow1.29x
Statement figures
Net sales (TTM)Rs 6,758 Cr
Net sales (latest year)Rs 8,194 Cr
Sales (latest quarter)Rs 1,280 Cr
Operating profit excl. other income (latest year)Rs 1,449 Cr
Operating profit (latest quarter)Rs 150 Cr
Other income (TTM)Rs 1,886 Cr
EBITDA (TTM)Rs 3,120 Cr
PBDT (TTM)Rs 2,982 Cr
Profit before tax (TTM)Rs 2,839 Cr
Tax (latest year)Rs 310 Cr
Net profit (TTM)Rs 4,446 Cr
Net profit (latest year)Rs 4,415 Cr
Net profit (latest quarter)Rs 794 Cr
Depreciation (TTM)Rs 143 Cr
Depreciation (latest quarter)Rs 35 Cr
Interest (TTM)Rs 138 Cr
Cost of goods sold (latest year)Rs 5,056 Cr
Total expenditure (latest year)Rs 6,746 Cr
Total income (latest year)Rs 10,019 Cr
Share capitalRs 495 Cr
ReservesRs 44,978 Cr
Shareholders' fundsRs 45,473 Cr
Total assetsRs 73,465 Cr
Net blockRs 4,114 Cr
Capital work in progressRs 162 Cr
InvestmentsRs 21,692 Cr
ReceivablesRs 847 Cr
InventoryRs 24,717 Cr
Other liabilitiesRs 27,685 Cr
Shares outstanding (crore)247.53
Ownership
Promoter holding74.08% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 36.7 is at the 25th percentile of its own 8.4-year range (median 58.8, low 9.0, high 109.6).
P/B 3.58 is at the 72th percentile (median 2.52).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodDLFNifty 50Difference
1 week-1.8%-2.8% +1.0 pts
1 month-2.5%-6.8% +4.3 pts
3 months-2.6%-7.6% +5.0 pts
6 months+30.6%+0.4% +30.2 pts
1 year-8.7%-9.9% +1.2 pts
2 years-27.6%-13.6% -14.1 pts
3 years+24.0%+14.2% +9.8 pts
5 years+57.8%+27.9% +29.9 pts
224 mutual fund schemes hold about ₹11,631 Cr. Over three months 161 bought more and 43 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Focused Fund2.33%1,196 +6%
ICICI Pru Large Cap Fund1.32%1,056 +2%
Parag Parikh Flexi Cap Fund0.64%947 +1841%
SBI Aggressive Hybrid Fund1.01%898 +11%
ICICI Pru Business Cycle Fund3.12%496 +16%
Quant ELSS Tax Saver Fund3.45%464 +59%
Kotak Multi Cap Fund1.16%340 +100%
SBI Balanced Advantage Fund0.76%320 +14%
Quant Large Cap Fund7.25%260 +100%
SBI Flexicap Fund1.09%254 +100%
Quant Flexi Cap Fund2.92%215 +100%
ICICI Pru Nifty Next 50 Index Fund1.74%176 +10%
SBI Arbitrage Fund0.36%173 +3%
Aditya Birla SL Large Cap Fund0.58%173 +12%
Nippon India Small Cap Fund0.18%153 +9%
DSP Large Cap Fund2.10%149 +16%
HDFC Large Cap Fund0.37%146 +12%
HDFC Balanced Advantage Fund0.13%138 +13%
Quant Large & Mid Cap Fund3.92%137 +100%
UTI Nifty Next 50 Index Fund1.75%132 +10%
UTI Value Fund1.35%130 +11%
ICICI Pru Arbitrage Fund0.36%125 -55%
Abakkus Flexi Cap Fund1.96%124 +33%
Kotak Arbitrage Fund(M0.16%121 +100%
Mirae Asset Large Cap Fund0.28%110 -18%

Red flags

F-score 5 of 8
lookProfit leans on other income Other income was 62% of pre-tax profit in 2026
lookAuditor change Auditor change 2026-05-13: DLF Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-08-22KUMARAN WALAJA RAJAMANICKAMEmployees/Designated Employebuy1,000Rs 0.08 CrMarket Purchase
2025-05-22ANUSHKA SINGHPromoter Groupbuy1,000Rs 0.08 CrMarket Purchase
2025-05-22SAVITRI DEVI SINGHPromoter Groupbuy1,000Rs 0.08 CrMarket Purchase
2024-08-05MANISH KUMAREmployees/Designated Employesell7,000Rs 0.57 CrMarket Sale
2023-09-12POONAM GOENKAImmediate relativesell480Rs 0.03 CrMarket Sale
2023-09-07SANJAY GOENKAEmployees/Designated Employesell20,579Rs 1.09 CrMarket Sale
2023-09-07POONAM GOENKAImmediate relativesell360Rs 0.02 CrMarket Sale
2023-09-05SANJAY GOENKAEmployees/Designated Employesell11,000Rs 0.57 CrMarket Sale
2023-09-04SANJAY GOENKAEmployees/Designated Employesell15,000Rs 0.77 CrMarket Sale
2023-08-31SANJAY GOENKAEmployees/Designated Employesell11,000Rs 0.55 CrMarket Sale
2023-08-30SANJAY GOENKAEmployees/Designated Employesell15,000Rs 0.75 CrMarket Sale
2023-08-01K. P. SinghPromoterssell14,495,360Rs 727.08 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,280 Cr -52.9% vs Jun 2025. Net profit ₹794 Cr +4.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-27Dividend - Rs 8 Per Share
2025-07-28Dividend - Rs 6 Per Share
2024-07-31Dividend - Rs 5 Per Share
2023-07-28Dividend - Rs 4 Per Share
2022-08-02Dividend - Rs 3 Per Share
2021-08-23 Dividend - Rs 2 Per Share
2020-09-15 Annual General Meeting/Dividend - Rs 0.80 Per Share
2020-02-12 Interim Dividend - Rs 1.20 Per Share
2019-07-22 Annual General Meeting/Dividend - Rs 2 Per Share
2018-09-12 Annual General Meeting/Dividend Re 0.80 Per Share (Purpose Revised)
2018-03-27 Interim Dividend - Rs 1.20 Per Share (Purpose Revised)
2017-09-19 Dividend - Rs 2/- Per Share
2016-03-28 Interim Dividend - Rs 2/- Per Share (Purpose Revised)
2015-08-17 Dividend - Rs 2/- Per Share
2014-08-19Annual General Meeting/Dividend Rs.2/- Per Share
2013-07-30Annual General Meeting/Dividend Rs 2/- Per Share
2012-08-24Annual General Meeting/Dividend Rs 2 Per Share
2011-07-27Dividend-Rs.2/- Per Share
2010-09-17Annual General Meeting And Dividend Rs.2/- Per Share
2009-09-22Dividend-Rs.2/- Per Share
2008-09-19Agm/Dividend - 100%
2007-11-05Interim Dividend-100% Purpose Revised
2007-09-18Agm/Dividend-100%
DateTypeWhat it says
2026-09-24Concall / analyst meetOutcome of Analyst Call.
2026-09-18Concall / analyst meetSchedule of meet.
2026-09-17Concall / analyst meetOutcome of Analyst Call
2026-09-14Concall / analyst meetSchedule of meet.
2026-08-18AcquisitionDisclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-08-07Concall / analyst meetTranscript of earnings call for Q1 FY27
2026-08-04Concall / analyst meetAudio/ Video recording for Earnings Call on Un-audited Financial Results of the Company for Q1FY27
2026-08-03Shareholder meetingScrutinisers Report along with voting results of 61st Annual General Meeting held on 3 August 2026
2026-08-03General Updates61st Annual General Meeting - Chairmans Speech
2026-08-03Shareholder meetingSummary of proceedings of the 61st Annual General Meeting held on 3 August 2026
2026-08-03Investor PresentationInvestor Presentation
2026-08-03Press ReleaseDLF announces Financial Results for Q1FY27
2026-08-03Change in ManagementRe-appointment of Cost Auditor for financial year 2026-27
2026-08-03Board meeting outcomeUn-audited Financial Results (Standalone and Consolidated) for the quarter ended 30th June 2026
2026-07-30Concall / analyst meetIntimation of Analyst Meet Q1FY27 Earnings Call
2026-07-11UpdatesBusiness Responsibility and Sustainability Report for the Financial Year ended 31st March 2026.
2026-07-11UpdatesLetter to the Shareholders
2026-07-11UpdatesIntimation of Record date for payment of dividend on equity shares for the Financial Year ended 31st March 2026.
2026-07-11Record DateIntimation of Record date for payment of dividend on equity shares for the Financial Year ended 31st March 2026
2026-07-11Shareholder meetingNotice of Annual General Meeting to be held on Monday, 3rd August 2026
2026-06-16General UpdatesReply to Volume Movement Letter dated 16th June 2026
2026-06-05Disclosure under SEBI TakeovPia Singh has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisi...
2026-06-05Disclosure under SEBI TakeovRenuka Talwar has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acq...
2026-06-05Disclosure under SEBI TakeovKushal Pal Singh has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial ...
2026-06-05Disclosure under SEBI TakeovRajiv Singh has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acqui...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.66
Max pain (expiry 2026-10-27)670
Largest call open interest at800
Largest put open interest at650
Implied volatility, at the money27.8%
Underlying at snapshot658.40
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-3017,461
2026-09-29196,169
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-03-26NCLTSanjay Goel Vs DLF Limited
2021-02-24NCLTDLF Property Developers Limited & Ors. Vs DLF Luxury Homes Limited
2021-02-01NCLTMs. Kiran Lata Kapur (Since Deceased) Through Legal Heir/Son Mr. Sunil Kapoor Vs DLF Home Developers Limited
2020-12-23NCLTSanjay Goel Vs DLF Limited
2020-12-22NCLTVs DLF Limited
2020-12-16NCLTDLF Property Developers Limited & Ors And DLF Luxury Homes Limited Vs -
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of DLF Ltd?

DLF Ltd (DLF) has a market capitalisation of Rs 1,61,638 Cr. at the 2026-10-01 close.

What is the P/E ratio of DLF Ltd?

DLF Ltd trades at a P/E of 37.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were DLF Ltd's latest quarterly results?

In the Jun 2026 quarter, DLF Ltd sales was Rs 1,280 Cr (-52.9% vs Jun 2025) and net profit was Rs 794 Cr.

What is the 52-week high and low of DLF Ltd?

The 52-week high is Rs 786.50 and the 52-week low is Rs 489.40.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03