DLFRealty

DLF Limited

Residential, Commercial Projects · ISIN INE271C01023 · BSE 532868 · NSE EQ · FV ₹2
Last price
₹720
+1.55%today
What this company does

DLF Limited operates in Residential, Commercial Projects, part of the Realty sector. It booked ₹1,261 cr of revenue in its latest quarter (Q2 FY27) and kept 103.2% of sales as profit. It is the largest of 9 Residential, Commercial Projects companies we track, by market value.

68out of 100
Equitytale Health Score
Solid

Healthier than 68% of listed companies we score, on all six measures of filed financials. Each measure is ranked against the 1,198–2,932 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
66

At close. Not part of the score.

Profitability & returns54

How much profit it earns on the money it employs

Balance sheet84

How much it owes, and whether earnings cover the interest

Cash quality82

Whether reported profit actually arrives as cash

Growth & consistency76

Whether sales and profit have grown, and how steadily

Valuation29

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 103% net margin
✓ Profit up 10% vs last year
✓ Promoters hold 74%
✓ No promoter shares pledged
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
! Sales down 23% vs last year

What if I invest in DLF?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹720▲ +1.55%
latest close · 2026-11-04
1-year return
+67.8%
52-wk low ₹29552-wk high ₹724
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio34.3High
LowAverageHigh
P/B ratio3.91High
Below bookModerateHigh
EV / EBITDA41.8High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity11.4%Fair
WeakFairStrong ▸15%
Return on capital8.3%Fair
WeakFairStrong
Net margin103.2%Strong
ThinDecentStrong
EBITDA margin84.1%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover56.1×Strong
RiskyOkayStrong ▸5×
Current ratio1.63Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1.78 L cr
Book value
₹184
EPS
₹5.25
latest quarter
Net debt
₹-947 cr
more cash than debt
Enterprise value
₹1.77 L cr
EBITDA
₹4,239 cr
annualised
EBIT
₹4,086 cr
annualised
Operating margin
81.0%
Return on assets
6.7%
Earnings yield
2.92%
P/S
35.35
Sales / share
₹20.4
Tax rate
20.1%
Face value
₹2
Shares
247.5 cr
Working capital
₹18,133 cr
Current assets
₹46,781 cr
Current liabilities
₹28,648 cr
Delivery %
43.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹131–₹175, midpoint ₹153

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,261 cr
Other Income₹1,037 cr
Total Income₹2,297 cr
Cost of Materials₹750 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹179 cr
Finance Costs₹18 cr
Depreciation & Amortisation₹38 cr
Other Expenses₹308 cr
Total Expenses₹1,294 cr
Profit before Tax₹1,003 cr
Tax Expense₹201 cr
Share of JV / Associates₹499 cr
Net Profit₹1,301 cr
Net margin on total income56.6%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹750 cr26.8%
Employee benefit expense₹179 cr6.4%
Finance costs₹18 cr0.7%
Depreciation & amortisation₹38 cr1.4%
Other expenses₹308 cr11.0%
Tax expense₹201 cr7.2%
Profit for the period₹1,301 cr46.5%
Total income ₹2,297 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,814 cr1,280 cr1,261 cr
Total income2,094 cr1,606 cr2,297 cr
Expenses1,473 cr1,183 cr1,294 cr
Profit before tax649 cr423 cr1,003 cr
Tax-92 cr115 cr201 cr
Net profit (owners' share)1,269 cr794 cr1,301 cr
Net margin (owners' share, on revenue)69.9%62.0%103.2%
EPS (₹)5.123.215.25
YoY (latest quarter): total income +1.6% · net profit +10.3%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹78,104 cr
Shareholder equity
₹45,587 cr
parent shareholders
Total debt
₹45 cr
Cash
₹992 cr
Cash flow · H1 FY27
Operating
₹1,953 cr
Investing
₹-1,227 cr
Financing
₹-2,006 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limitedthis company₹709₹1.75 L cr33.8
Aditya Birla Real Estate Limited₹1,036₹1.27 L cr34.5
Lodha Developers Limited₹1,061₹1.06 L cr26.2
The Phoenix Mills Limited₹2,049₹73,277 cr56.2
Prestige Estates Projects Limited₹1,537₹66,199 cr70.1
Oberoi Realty Limited₹1,677₹60,976 cr20.0
Godrej Properties Limited₹1,670₹47,434 cr81.5
Brigade Enterprises Limited₹527₹17,189 cr22.2
Anant Raj Limited₹444₹15,967 cr25.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.11%
trailing 12 months
Dividend / share (TTM)
₹8
Last dividend
₹8
ex 27 Jul 2026
ActionDetailEx-date
Dividend₹8 / share27 Jul 2026
Dividend₹6 / share28 Jul 2025
Dividend₹5 / share31 Jul 2024
Dividend₹4 / share28 Jul 2023
Dividend₹3 / share2 Aug 2022
Dividend₹2 / share23 Aug 2021
Who owns it · 2026-09-30
No pledge
Promoter
74.1%
FII / Foreign
11.4%
DII / Domestic
9.1%
Retail / others
5.4%
Smart-money activity
Insider trades
BoughtKUMARAN WALAJA RAJAMANICKAM · Employees/Designated Employees1,000 · ₹7.7 L22 Aug 25
BoughtANUSHKA SINGH · Promoter Group1,000 · ₹7.8 L22 May 25
BoughtSAVITRI DEVI SINGH · Promoter Group1,000 · ₹7.7 L22 May 25
Bulk / block deals
short— · NSE130 Oct 26
short— · NSE129 Oct 26
short— · NSE5,70027 Oct 26
Stake changes
SoldInvesco Ltd→ 3.54% · 1.32 L3 Jun 24
SoldMallika Housing Company LLP · promoter→ 74.71% · 60.00 L1 Aug 23
SoldMr. Kushal Pal Singh · promoter→ 74.36% · 1.45 cr1 Aug 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 4 Aug 2025
See the official result
1
(a) Adoption of the Audited Financial Statements of the Company for the financial year ended March 31, 2025 together with the Reports of Board of Directors and Auditors thereon. (b) Adoption of the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Report of the Auditors thereon.
Backed by 98% of shareholders other than promotersneeded 50%
43.74 cr votes for, 88.37 L against · 2% of mutual funds and other big investors said no
2
Declaration of dividend on equity shares for the financial year ended 31 March 2025
Backed by 100% of shareholders other than promotersneeded 50%
45.45 cr votes for, 1.94 L against · 0% of mutual funds and other big investors said no
3
Appointment of Mr. Devinder Singh (DIN: 02569464), who retires by rotation and being eligible, offers himself for re-appointment
Backed by 99% of shareholders other than promotersneeded 50%
44.93 cr votes for, 53.14 L against · 1% of mutual funds and other big investors said no
4
Appointment of Ms. Savitri Devi Singh (DIN: 01644076), who retires by rotation and being eligible, offers herself for re-appointment
Promoters had a personal stake in this
Backed by 83% of shareholders other than promotersneeded 50%
37.88 cr votes for, 7.59 cr against · 17% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 69 named members
owning 74.1% between them · as of 2026-09-30
RAJDHANI INVESTMENTS AND AGENCIES PRIVATE LIMITED61.53%
PREM TRADERS LLP3.64%
MALLIKA HOUSING COMPANY LLP2.90%
RAISINA AGENCIES LLP2.66%
JHANDEWALAN ANCILLARIES LLP1.91%
PIA SINGH0.87%
PARVATI ESTATES LLP0.26%
UNIVERSAL MANAGEMENT AND SALES LLP0.22%
Business done with them
FY2026 · 13 of the group
The company paid ₹120 cr to companies in the promoter group last year — about 1.5% of its ₹8,194 cr revenue and received ₹40 cr back from them.
Mr. Rajiv Singh
Other payments to them · Description is mentioned along with the relevant line item
also owns 0.01% of the company
₹45 cr
company paid
DLF Building & Services Private Limited
Bought property or assets from them · Description is mentioned along with the relevant line item
₹19 cr
company paid
Renkon Partners
Bought property or assets from them · Description is mentioned along with the relevant line item
₹14 cr
company paid
Renkon Partners
Sold property or assets to them · Description is mentioned along with the relevant line item
₹12 cr
company received
Ms. Pia Singh
Contribution received from them · Description is mentioned along with the relevant line item
also owns 0.87% of the company
₹11 cr
company received
SIDHANT REAL ESTATE DEVELOPERS AND SERVICES PRIVATE LIMITED
Other payments to them · Description is mentioned along with the relevant line item
₹10 cr
company paid
SIDHANT REAL ESTATE DEVELOPERS AND SERVICES PRIVATE LIMITED
Bought property or assets from them · Description is mentioned along with the relevant line item
₹8 cr
company paid
Plaza Partners
Bought property or assets from them · Description is mentioned along with the relevant line item
₹8 cr
company paid
SIDHANT REAL ESTATE DEVELOPERS AND SERVICES PRIVATE LIMITED
Contribution received from them · Description is mentioned along with the relevant line item
₹8 cr
company received
Ms. Anushka Singh
Bought property or assets from them · Description is mentioned along with the relevant line item
₹5 cr
company paid
Ms. Savitri Devi Singh
Bought property or assets from them · Description is mentioned along with the relevant line item
₹5 cr
company paid
DLF Building & Services Private Limited
Contribution received from them · Description is mentioned along with the relevant line item
₹4 cr
company received
DLF Building & Services Private Limited
Contribution made to them · Description is mentioned along with the relevant line item
₹1 cr
company paid
Plaza Partners
Contribution made to them · Description is mentioned along with the relevant line item
₹1 cr
company paid
Super Mart Two Property Management Services LLP
Contribution made to them · Description is mentioned along with the relevant line item
₹1 cr
company paid
Prem Traders LLP
Contribution made to them · Description is mentioned along with the relevant line item
also owns 3.64% of the company
₹1 cr
company paid
Ms. Renuka Talwar
Other income from them · Description is mentioned along with the relevant line item
also owns 0.06% of the company
₹1 cr
company received
Ms. Kavita Singh
Other payments to them · Description is mentioned along with the relevant line item
also owns 0.01% of the company
₹76.8 L
company paid
Ms. Pia Singh
Other income from them · Description is mentioned along with the relevant line item
also owns 0.87% of the company
₹54.8 L
company received
Ms. Kavita Singh
Contribution received from them · Description is mentioned along with the relevant line item
also owns 0.01% of the company
₹50 L
company received
Mr. Rajiv Singh
Contribution received from them · Description is mentioned along with the relevant line item
also owns 0.01% of the company
₹50 L
company received
Ms. Renuka Talwar
Contribution received from them · Description is mentioned along with the relevant line item
also owns 0.06% of the company
₹50 L
company received
Ms. Savitri Devi Singh
Contribution received from them · Description is mentioned along with the relevant line item
₹37.5 L
company received
Ms. Anushka Singh
Contribution received from them · Description is mentioned along with the relevant line item
₹37.5 L
company received
DLF Building & Services Private Limited
Other income from them · Description is mentioned along with the relevant line item
₹28.4 L
company received
SIDHANT REAL ESTATE DEVELOPERS AND SERVICES PRIVATE LIMITED
Other income from them · Description is mentioned along with the relevant line item
₹24.1 L
company received
DLF Building & Services Private Limited
Other payments to them · Description is mentioned along with the relevant line item
₹10.6 L
company paid
Mallika Housing Company LLP
Other payments to them · Description is mentioned along with the relevant line item
also owns 2.90% of the company
₹8.2 L
company paid

The company also transacted with 23 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.