DLF

DLF Limited

Luxury housing developer with a large office and retail leasing portfolio

Consumer Discretionary›Realty›Realty›Residential, Commercial Projects

dlf.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹675.00
Market cap
1,67,083 Cr
Stock P/E
36.6
P/B
3.67
Dividend yield
0.9%
ROE (FY26)
9.7%
ROCE (FY26)
10.8%
Operating margin (FY26)
15.9%
Debt / equity (FY26)
0.0010
OCF / EBITDA (FY26)
438.2%
OCF / EBITDA (3Y)
248.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

DLF builds and sells homes and leases offices and malls.

Company snapshot

1stBy market cap

Ranked among 79 companies in Residential, Commercial Projects.

What we see

Positives
  • ✓Net margin of 53.9% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Sales1,521 Cr2,135 Cr1,362 Cr1,975 Cr1,529 Cr3,128 Cr2,717 Cr1,643 Cr2,020 Cr1,814 Cr1,280 Cr1,261 Cr
Operating expenses (approx.)1,010 Cr1,381 Cr1,134 Cr1,473 Cr1,129 Cr2,150 Cr2,353 Cr1,359 Cr1,630 Cr1,403 Cr1,130 Cr1,238 Cr
EBITDA511 Cr754 Cr229 Cr502 Cr400 Cr978 Cr364 Cr284 Cr390 Cr411 Cr150 Cr23 Cr
OPM %33.6%35.3%16.8%25.4%26.2%31.3%13.4%17.3%19.3%22.6%11.7%1.8%
Other income122 Cr182 Cr367 Cr206 Cr209 Cr220 Cr264 Cr619 Cr459 Cr280 Cr325 Cr1,037 Cr
Interest84 Cr98 Cr101 Cr94 Cr94 Cr109 Cr79 Cr63 Cr36 Cr21 Cr18 Cr18 Cr
Depreciation38 Cr37 Cr37 Cr38 Cr39 Cr37 Cr34 Cr30 Cr30 Cr48 Cr35 Cr38 Cr
Profit before tax791 Cr1,091 Cr763 Cr914 Cr792 Cr1,463 Cr896 Cr1,456 Cr1,196 Cr1,176 Cr909 Cr1,503 Cr
Tax %17.1%15.7%15.5%-51.0%-33.7%12.4%14.9%19.0%-0.6%-7.8%12.6%13.4%
Net profit656 Cr920 Cr645 Cr1,381 Cr1,059 Cr1,282 Cr763 Cr1,180 Cr1,203 Cr1,269 Cr794 Cr1,301 Cr
EPS (₹)₹2.65₹3.72₹2.61₹5.58₹4.28₹5.18₹3.08₹4.77₹4.86₹5.12₹3.21₹5.25

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,221 Cr6,707 Cr8,366 Cr6,083 Cr5,414 Cr5,717 Cr5,695 Cr6,427 Cr7,994 Cr8,194 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,788 Cr4,329 Cr6,225 Cr4,948 Cr3,996 Cr3,975 Cr3,969 Cr4,303 Cr5,885 Cr6,746 CrSign in free for the trailing twelve months
EBITDA3,433 Cr2,377 Cr2,142 Cr1,135 Cr1,418 Cr1,743 Cr1,726 Cr2,124 Cr2,109 Cr1,448 CrSign in free for the trailing twelve months
OPM %41.8%35.4%25.6%18.7%26.2%30.5%30.3%33.0%26.4%17.7%Sign in free for the trailing twelve months
Other income719 Cr957 Cr663 Cr805 Cr531 Cr420 Cr317 Cr531 Cr1,002 Cr1,622 CrSign in free for the trailing twelve months
Interest2,980 Cr2,951 Cr2,062 Cr1,427 Cr853 Cr625 Cr392 Cr356 Cr397 Cr199 CrSign in free for the trailing twelve months
Depreciation572 Cr534 Cr225 Cr200 Cr159 Cr149 Cr149 Cr148 Cr151 Cr142 CrSign in free for the trailing twelve months
Profit before tax937 Cr8,800 Cr1,591 Cr1,543 Cr1,445 Cr1,821 Cr2,435 Cr3,244 Cr3,933 Cr4,725 CrSign in free for the trailing twelve months
Tax %24.5%49.1%17.4%138.2%25.1%17.6%16.5%16.0%-11.0%6.6%Sign in free for the trailing twelve months
Net profit708 Cr4,477 Cr1,314 Cr-590 Cr1,083 Cr1,500 Cr2,034 Cr2,724 Cr4,367 Cr4,415 CrSign in free for the trailing twelve months
EPS (₹)₹3.89₹25.02₹7.38₹-2.41₹4.42₹6.06₹8.22₹11.02₹17.64₹17.83Sign in free for the trailing twelve months
Dividend payout %————18.4%33.1%36.5%36.2%28.2%33.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital357 Cr357 Cr441 Cr495 Cr495 Cr495 Cr495 Cr495 Cr495 Cr495 Cr
Reserves24,216 Cr34,954 Cr33,135 Cr33,952 Cr34,849 Cr35,867 Cr37,192 Cr38,936 Cr42,055 Cr44,978 Cr
Borrowings26,663 Cr15,047 Cr14,778 Cr6,329 Cr5,640 Cr3,960 Cr3,334 Cr4,834 Cr4,103 Cr45 Cr
Other liabilities12,627 Cr12,250 Cr18,527 Cr16,435 Cr13,806 Cr12,162 Cr12,902 Cr15,997 Cr22,822 Cr29,356 Cr
Total liabilities63,987 Cr62,656 Cr66,922 Cr57,230 Cr54,810 Cr52,503 Cr53,928 Cr60,262 Cr69,475 Cr74,875 Cr
Fixed assets (net)2,269 Cr1,549 Cr1,459 Cr1,177 Cr919 Cr832 Cr748 Cr691 Cr630 Cr592 Cr
CWIP153 Cr137 Cr103 Cr89 Cr94 Cr81 Cr61 Cr68 Cr77 Cr159 Cr
Investments1,209 Cr20,832 Cr21,005 Cr18,566 Cr22,593 Cr22,719 Cr22,433 Cr22,163 Cr23,042 Cr24,053 Cr
Loans & advances————1,041 Cr688 Cr817 Cr958 Cr677 Cr448 Cr
Inventories20,099 Cr19,753 Cr22,009 Cr22,486 Cr21,087 Cr20,107 Cr19,361 Cr21,154 Cr24,621 Cr24,717 Cr
Trade receivables1,417 Cr1,286 Cr832 Cr720 Cr581 Cr564 Cr549 Cr538 Cr802 Cr847 Cr
Cash & bank3,413 Cr1,356 Cr4,268 Cr1,615 Cr1,045 Cr306 Cr211 Cr1,394 Cr753 Cr2,273 Cr
Other assets35,427 Cr17,744 Cr17,247 Cr12,576 Cr7,450 Cr7,207 Cr9,748 Cr13,297 Cr18,873 Cr21,785 Cr
Total assets63,987 Cr62,656 Cr66,922 Cr57,230 Cr54,810 Cr52,503 Cr53,928 Cr60,262 Cr69,475 Cr74,875 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-898 Cr7,244 Cr2,043 Cr325 Cr1,460 Cr2,832 Cr2,375 Cr2,539 Cr5,235 Cr6,347 Cr
Cash from investing872 Cr-3,578 Cr5 Cr6,517 Cr150 Cr267 Cr-463 Cr-1,529 Cr-3,543 Cr721 Cr
Cash from financing787 Cr-5,723 Cr875 Cr-9,491 Cr-2,184 Cr-3,828 Cr-2,011 Cr176 Cr-2,334 Cr-5,547 Cr
Net cash flow761 Cr-2,056 Cr2,923 Cr-2,649 Cr-573 Cr-729 Cr-98 Cr1,186 Cr-642 Cr1,522 Cr
Free cash flow (OCF − Capex)-1,113 Cr6,490 Cr1,439 Cr119 Cr1,447 Cr2,683 Cr2,312 Cr2,423 Cr5,139 Cr6,218 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.6%23.3%7.5%7.3%5.6%6.1%6.9%8.1%9.3%10.8%
ROE %2.9%12.7%3.9%-1.7%3.1%4.1%5.4%6.9%10.3%9.7%
Debtor days63703643393635313738
Inventory days89023089581349269426662895276421691856
Days payable621425663158203246234199129
Cash conversion cycle89022359381329257524992685256120071764
OCF / EBITDA %-26.2%304.7%95.4%28.6%103.0%162.5%137.6%119.6%248.3%438.2%
OCF / EBITDA % (3 years)——105.5%170.0%81.6%107.5%136.4%138.5%170.3%248.6%
Debt / equity1.090.430.440.180.160.110.090.120.100.0010
Current ratio2.191.721.211.822.082.292.312.341.861.59
Net debt / EBITDA6.77—4.914.153.242.101.811.621.59-1.54
DLF Limited (DLF) Financials | BullKarma