DLF Limited (IN:DLF)
:DLF
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DLF Limited
(DLF)
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Rating:70Outperform
Price Target:
₹647.00
▼(-9.07% Downside)
Action:UpgradedDate:03/24/26
Score is driven by strong financial performance (high margins, strong cash flow conversion, and a stable balance sheet), but meaningfully tempered by weak technical momentum (below key moving averages with negative MACD). Valuation is also a mild headwind due to a relatively high P/E despite a modest dividend yield.
Positive Factors
High Profitability Margins
DLF's sustained high gross, EBITDA and net margins indicate durable pricing power and tight cost control across development and leasing. These margins support internal funding for new projects, strengthen returns on capital and provide resilient operating profitability through real-estate cycles.
Negative Factors
Revenue Reliant on Development Sales
DLF's core model depends heavily on development-led sales, making revenues cyclical and sensitive to housing demand, interest rates and buyer sentiment. This structural dependence increases earnings volatility compared with firms weighted more to annuity rental income.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability Margins
DLF's sustained high gross, EBITDA and net margins indicate durable pricing power and tight cost control across development and leasing. These margins support internal funding for new projects, strengthen returns on capital and provide resilient operating profitability through real-estate cycles.
Read all positive factors
DLF Limited (DLF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.45T
Dividend Yield0.86%
Average Volume (3M)63.94K
Price to Earnings (P/E)35.4
Beta (1Y)1.79
Revenue Growth35.80%
EPS Growth10.54%
CountryIN
Employees2,507
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)4.90
Shares Outstanding2,475,311,500
10 Day Avg. Volume68,620
30 Day Avg. Volume63,936
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)3.86
Price to Sales (P/S)20.54
P/FCF Ratio31.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)21.42
Revenue Forecast (FY)₹110.58B
DLF Limited Business Overview & Revenue Model
Company Description
DLF Limited, together with its subsidiaries, engages in the business of colonization and real estate development in India. Its activities include identification and acquisition of land; and planning, execution, construction, and marketing of proje...
How the Company Makes Money
DLF makes money primarily through two broad models: (1) development-led sales income and (2) recurring rental income from leased commercial assets. In its development business, revenue is generated by selling residential units and other real estat...
DLF Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 93.48B | 79.94B | 64.27B | 56.95B | 57.17B | 54.14B |
| Gross Profit | 39.30B | 38.62B | 36.33B | 32.61B | 29.72B | 25.65B |
| EBITDA | 22.52B | 21.10B | 21.08B | 17.09B | 17.27B | 14.51B |
| Net Income | 44.85B | 43.68B | 27.27B | 20.36B | 15.01B | 10.94B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 694.75B | 602.62B | 539.28B | 525.03B | 548.10B |
| Cash, Cash Equivalents and Short-Term Investments | 109.98B | 109.98B | 43.22B | 27.46B | 11.75B | 21.26B |
| Total Debt | 0.00 | 41.03B | 48.34B | 33.36B | 41.82B | 67.85B |
| Total Liabilities | -425.50B | 269.25B | 208.31B | 162.36B | 161.22B | 194.45B |
| Stockholders Equity | 425.50B | 425.50B | 394.31B | 376.88B | 363.62B | 353.44B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 51.39B | 24.23B | 23.12B | 26.83B | 14.47B |
| Operating Cash Flow | 0.00 | 52.35B | 25.39B | 23.75B | 28.32B | 14.60B |
| Investing Cash Flow | 0.00 | -35.43B | -15.29B | -4.63B | 2.63B | 1.54B |
| Financing Cash Flow | 0.00 | -24.03B | 1.77B | -20.13B | -38.28B | -21.84B |
DLF Limited Technical Analysis
Neutral
711.50
Price Trends
588.35
Positive
636.05
Negative
706.36
Negative
Market Momentum
2.01
Negative
61.97
Neutral
95.60
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DLF, the sentiment is Neutral. The current price of 711.5 is above the 20-day moving average (MA) of 546.96, above the 50-day MA of 588.35, and above the 200-day MA of 706.36, indicating a neutral trend. The MACD of 2.01 indicates Negative momentum. The RSI at 61.97 is Neutral, neither overbought nor oversold. The STOCH value of 95.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DLF.
DLF Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹1.45T | 35.36 | ― | 0.86% | 35.80% | 10.54% | |
68 Neutral | ₹613.82B | 24.40 | ― | 0.48% | -2.16% | -13.29% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | ₹635.96B | 60.08 | ― | 0.14% | 2.50% | -2.43% | |
61 Neutral | ₹840.09B | 19.71 | ― | 0.39% | 21.02% | 23.73% | |
59 Neutral | ₹532.61B | 77.34 | ― | ― | 18.38% | -1.91% | |
52 Neutral | ₹590.98B | 77.12 | ― | 0.11% | 27.00% | 56.39% |
* Real Estate Sector Average
IN:DLF
DLF Limited
592.70
-61.41
-9.39%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.