DLF

NSE: DLFBSE: 532868
Compare with peers
₹ 666.30▼ 4.7 (−0.7%)28 Oct, 03:28 pm IST
Market cap
₹ 1,61,774 Cr.
P/E
35.4x
P/B
3.61x
52-week range
489.4 – 786.5
ROE
10%
ROCE
6%
Dividend yield
1.2%
Debt / equity
0.01
Sector
Realty
Industry
Residential, Commercial Projects
Listed on
NSE, BSE

About

DLF Limited is an India-based company, which is primarily engaged in the business of colonization and real estate development. The operations of the Company include all aspects of real estate development, from the identification and acquisition of land, to planning, execution, construction, and marketing of projects. The Company is also engaged in the business of leasing, generation of power, provision of maintenance services, hospitality, and recreational activities. Its homes portfolio ranges from luxury residential complexes to smart townships. Its offices portfolio is an integrated mix of office spaces with food and beverage and leisure amenities. It has developed approximately 27.96 million square meter residential area and 4.81 million square feet retail space. The Company's subsidiaries include Aaralyn Builders & Developers Private Limited, Adana Builders & Developers Private Limited and Afaaf Builders & Developers Private Limited, among others.

Quick check

The five things to look at first. Open one for more.

DLF against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)35.4 against a typical 23.3: pricier than most peers (1st = cheapest).110th of 173
  • Sales growth−23.3% against a typical +6.6% from a year earlier.100th of 134
  • Profit growth+10.3% against a typical +2.9% from a year earlier.49th of 108
  • Share price, 3 months+0.1% against a typical −10.3%.38th of 147
  • Size₹ 1,61,774 Cr. market value against a typical ₹ 129.6 Cr. (1st = largest).1st of 163

Latest announcements

Exchange filings and their impact on the company.

  • 22 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesMedium impactPositivePrice −0.9% on 23 Oct
    Strong Rs 3,800cr pre-sales and record rental occupancy keep DLF on track despite accounting revenue lag to FY28.

    DLF reported Q2 FY27 new sales bookings of about Rs 3,800 crore, including the sellout of Aureva luxury retirement housing and continued strong sales at Dahlias at over Rs 1,00,000 per sq ft. Collections were Rs 2,780 crore with operating cash flow of Rs 1,858 crore, leaving net cash of about Rs 15,100 crore after a Rs 1,980 crore dividend. The 50 million sq ft rental portfolio hit record 96% occupancy by area, with DCCDL revenue of Rs 2,014 crore and profit up 17%, guiding to Rs 6,800 crore exit rental and completions from Arbour in FY28 through FY30.

    Filing
  • 16 Oct 2026Outcome of Board MeetingLow impactNeutralPrice −0.3% on 19 Oct
    Board approved Q2 FY27 results but no usable figures were disclosed in the extracted text.

    DLF's board on 16 October 2026 approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026. The detailed results tables and review reports attached to the filing were not available in the extracted text, so key numbers like revenue and profit could not be read. With no measurable surprise, no change to the business outlook is assumed for the next 12 months.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

High safety

Rated AA+ by ICRA
AA+
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
ICRA[ICRA]AA+Stable11 Dec 2025
CRISILWithdrawnStable17 Oct 2025
Credit rating actions
RatingDetails
11 Dec 2025
▲ Upgrade
[ICRA]AA+—ICRA₹ 6,850 Cr.
17 Oct 2025
Withdrawn
was Crisil AA+—CRISIL₹ 4,585 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
16 Oct 2026Financial ResultsBoard Meeting Intimation for approval of Un-Audited Financial Results (Standalone and Consolidated) for the quarter and half-year ended 30th September 2026
3 Aug 2026Financial ResultsTo consider and approve the unaudited financial results for the quarter ended 30th June 2026
13 May 2026DividendBoard Meeting intimation to consider and recommend Dividend, if any, for FY 2025-26
22 Jan 2026Financial ResultsUn-audited financial results (Standalone and Consolidated) for the quarter and nine months ended 31st December 2025
30 Oct 2025Financial ResultsTo consider and approve the un-audited financial results for the quarter and half-year ended September 30, 2025
4 Aug 2025Financial ResultsTo consider and approve the Un-audited financial results for the quarter ended 30th June 2025

Share price

1Y change −14.52%
0 of 2 filing days came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales1,5212,1351,3621,9751,5293,1282,7171,6432,0201,8141,2801,261
Expenses1,0101,3811,1341,4731,1292,1502,3531,3591,6301,4031,1301,238
Operating Profit51175422950240097836428439041115023
OPM %34%35%17%25%26%31%13%17%19%23%12%1.8%
Other Income122182367206−942202648543993083251,037
Interest84981019494109796336211818
Depreciation383737383937343030483538
Profit before tax5128024585771741,0535151,0457236494231,003
Tax %26%21%26%−81%−154%17%26%26%−1%−14%27%20%
Net Profit6569206451,3811,0591,2827631,1801,2031,2697941,301
EPS in Rs2.653.722.615.584.285.183.084.774.865.123.215.26

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
−2%
5 Years
9%
3 Years
13%
TTM
−29%
Compounded Profit Growth
10 Years
29%
5 Years
29%
3 Years
27%
TTM
19%
Stock Price CAGR
10 Years
16%
5 Years
11%
3 Years
7%
TTM
—
Return on Equity
10 Years
5%
5 Years
8%
3 Years
9%
TTM
—

Shareholding

Latest: Sep 2026.

Promoters
74.08%
0 pts in a year
FIIs
11.43%
−4.03 pts in a year
DIIs
9.06%
+3.85 pts in a year
Government
0.01%
+0.01 pts in a year
Public
5.41%
+0.16 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 35.4xEPS (12 months) ₹ 18.57Median P/E 43.6x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
DLF₹ 666.30₹ 1,61,774 Cr.35.4x3.6x10%—
Lodha Developers₹ 963.00₹ 1,01,441 Cr.33.7x5.1x15.8%20.6%
Indus Towers₹ 380.00₹ 1,00,250 Cr.14.9x2.7x19.8%22%
Oberoi Realty₹ 1,587.20₹ 57,846 Cr.27.3x3.8x—41.6%
Godrej Properties₹ 1,497.90₹ 45,121 Cr.166x3.3x10.2%35.9%
Rail Vikas Nigam₹ 180.10₹ 37,551 Cr.53.7x4.8x9%4.3%

Management

Rajiv Singh
Executive Chairman of the Board
Badal Bagri
Group Chief Financial Officer
Ram Parkash Punjani
Compliance Officer, Company Secretary
Devinder Singh
Managing Director, Whole-Time Director
Ashok Kumar Tyagi
Managing Director, Whole-Time Director

Prices are delayed and for information only. Nothing on this page is investment advice.