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DLF (DLF) had a P/E of 40.8× on 6 Nov 2026, above the industry P/E of 22.1×. Its ROCE of 6.3% is the second-lowest among the 7 largest Real Estate (Development) peers, and sales and net profit grew 11% and 29% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. It has almost no debt, and its dividend yield is 1.1%. It is a large-cap company with a market cap of ₹1.9 lakh crore, the largest of 112 Real Estate (Development) companies by market cap; the shares fell 3.8% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹740.00
Day high
₹752.90
Day low
₹732.05
Prev. close
₹745.20
Volume
29.9 L

Health check

1 good · 1 fair · 3 to check
  • ReturnsAhead

    −3.8% over a year, better than 6 of 7 peers.

  • Price tagDistorted

    A one-off gain inflates profit, so P/E isn’t comparable right now.

  • GrowthSlow

    Sales +11.3%, profit +29.4% a year over 3 years.

  • ProfitabilityWeak

    ROCE 6.3% vs peer median 10.4%.

  • Balance sheetFair

    Practically debt-free, Piotroski 5 of 9.

  • Red flags3 to check

    Quarterly sales down 23.3% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Real Estate - Development

111 listed peers. Screen the industry

Large cap

₹1.9L Cr, the largest of 112 in its industry.

Defensive

Beta 0.44 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹6,375 Cr · profit ₹4,567 Cr
Market cap
₹1.9L Cr
Large cap
P/E
40.8
Industry 22.1
Price to book
4.09
Peers 2.81
Dividend yield
1.06%
ROE
10.3%
Peers 11.1%
ROCE
6.3%
Peers 10.4%
Debt to equity
0.01
Debt ₹314 Cr
EPS (TTM)
₹18.44
Face value ₹2
OPM (TTM)
15.3%
Net margin 71.6%
Sales growth
−23.3%
Latest quarter vs a year ago
Profit growth
+10.1%
Latest quarter vs a year ago
Price to sales
29.23
EV/EBITDA 178.9

Strengths and risks

Strengths

  • Practically debt-free.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Quarterly sales down 23.3% on a year ago.
  • Net profit is above operating profit, so a one-off gain is likely flattering earnings.
  • P/E of 40.8 against an industry P/E of 22.1.

Derived automatically from reported figures. Not a recommendation.

About DLF

DLF Limited, together with its subsidiaries, engages in the business of colonization and real estate development in India. The company is involved in the real estate development activities, including identification and acquisition of land, planning, execution, construction, and marketing of projects. The company also develops and sells residential housing projects, including under-construction projects. In addition, it operates and maintains commercial…

Headquarters
Gurugram
Employees
4,310
Sector
Real Estate
ISIN
INE271C01023
Website
dlf.in

Price range

52 weeks

₹489.40₹773.90

Today

₹732.05₹752.90
Avg volume (3M)
32.8 L
1-year return
minus 3.8%
From 52-week high
minus 2.7%

Analyst consensus

22 analysts
Strong buyMean target ₹819.36 plus 8.8%

Target range, with today’s price

Low ₹676.00High ₹1,000.00

Next results expected around 14 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Real Estate - Development

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
DLFDLF752.90plus 1.03%1,86,36640.8127.66.3%15.3%0.0111.3%minus 3.8%
LODHALodha Developers1,179.00plus 0.27%1,17,81227.125.218.2%33.1%0.4120.4%minus 3.9%
OBEROIRLTYOberoi Realty1,739.00minus 0.13%63,23024.018.816.7%57.5%0.1412.9%minus 2.2%
GODREJPROPGodrej Properties1,809.30minus 0.31%54,50140.4–11.1%−6.5%1.0232.4%minus 20.9%
BRIGADEBrigade Enterprises558.15minus 0.89%18,20525.115.69.8%29.2%0.8318.5%minus 26.2%
ANANTRAJAnant Raj445.45minus 4.41%16,03126.524.110.4%27.8%0.1337.9%minus 27.8%
SOBHASobha1,275.40minus 1.28%13,64271.446.77.4%6.5%0.3316.3%minus 20.2%
HORIZONINDHorizon Industrial Parks43.43minus 2.07%12,52083.531.62.6%78.3%0.4322.0%minus 25.3%
Median of 7 peers–−0.89%18,20527.124.710.4%29.2%0.4120.4%−20.9%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
2,7172,0201,8141,2801,261
2,3531,6301,4031,1301,238
36439041115023
13.4%19.3%22.6%11.7%1.8%
264459280325298
78.636.321.117.618.2
34.530.248.335.138.2
–−60.227.9–739
5157236494231,003
25.8%−1.0%−14.2%27.1%20.1%
7631,2031,2697941,301
3.084.865.123.215.25

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+11.3%
Profit CAGR 3Y
+29.4%
EPS CAGR 3Y
+29.4%
ROE
10.3%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
5,6826,2497,9477,838
–+10.0%+27.2%minus 1.4%
3,8794,2695,6816,411
1,8031,9812,2651,426
31.7%31.7%28.5%18.2%
2105858401,639
364330375183
149148151142
2.163.2−319193
1,5022,1512,2612,932
26.7%24.2%−19.2%10.6%
2,0362,7274,3684,415
–+34.0%+60.2%+1.1%
8.2211.0217.6417.83

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
495495495495
37,19238,93642,05544,978
3,3344,8344,103306
12,90615,99822,82229,096
53,92860,26269,47574,875
896847807872
65.472.885.9180
4624479325,644
1,0424,3228,8774,618
51,46254,57458,77363,561
53,92860,26269,47574,875

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
2,3752,5395,2356,347
−463−1,529−3,543721
−2,013177−2,403−5,547
−1011,187−7101,522
−63.7−116−96−129
2,3122,4235,1396,218
−743−987−1,234−1,480

Shareholding pattern

Source: NSE filings
74.1%
promoters
  • Promoters74.08%
  • Public25.92%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202674.08%25.92%0.00
30 Jun 202674.08%25.92%0.00
31 Mar 202674.08%25.92%0.00
31 Dec 202574.08%25.92%0.00
30 Sep 202574.08%25.92%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you