DLF Ltd (DLF) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↓

-1.64%

Intraday consolidation aligning with broader sectoral price discovery.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 12.3%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 9.5%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹716.66

200-Day DMA ● Overlay

₹664.67

14-Day RSI ● Overlay

46.3 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.63 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

37.9x

Price / EPS

Book Value (₹) Assets

₹184.0

P/B: 3.6x

ROE (%) Quality

9.5%

Net Profit / Equity

ROCE (%) Efficiency

6.3%

EBIT / Capital

Dividend Yield Yield

1.22%

Face Value: ₹10

Debt / Equity Solvency

0.01x

Low Debt

EPS (TTM) Per Share

₹17.37

Trailing 12M

OPM (%) Spread

18.0%

EBITDA Margin

Free Cash Flow Cash

₹6,231 Cr

CFO - Capex

About DLF Ltd

DLF Ltd (DLF) is a leading Indian enterprise operating in the Infrastructure & Realty sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 13% × Turnover: 0.85x × Leverage: 1.01x = ROE: 9.5%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹6,758 Cr

Latest PAT

₹4,446 Cr

EPS (TTM)

₹17.37

OPM %

18.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹1,423 Cr	₹1,348 Cr	₹1,521 Cr	₹2,135 Cr	₹1,362 Cr	₹1,975 Cr	₹1,529 Cr	₹3,128 Cr	₹2,717 Cr	₹1,643 Cr	₹2,020 Cr	₹1,814 Cr	₹1,280 Cr
Operating Profit (EBITDA)	₹396.00 Cr	₹462.00 Cr	₹511.00 Cr	₹754.00 Cr	₹229.00 Cr	₹502.00 Cr	₹400.00 Cr	₹978.00 Cr	₹364.00 Cr	₹284.00 Cr	₹390.00 Cr	₹411.00 Cr	₹150.00 Cr
OPM %	28.0%	34.0%	34.0%	35.0%	17.0%	25.0%	26.0%	31.0%	13.0%	17.0%	19.0%	23.0%	12.0%
Interest Expense	₹85.00 Cr	₹90.00 Cr	₹84.00 Cr	₹98.00 Cr	₹101.00 Cr	₹94.00 Cr	₹94.00 Cr	₹109.00 Cr	₹79.00 Cr	₹63.00 Cr	₹36.00 Cr	₹21.00 Cr	₹18.00 Cr
Depreciation	₹36.00 Cr	₹37.00 Cr	₹38.00 Cr	₹37.00 Cr	₹37.00 Cr	₹38.00 Cr	₹39.00 Cr	₹37.00 Cr	₹34.00 Cr	₹30.00 Cr	₹30.00 Cr	₹48.00 Cr	₹35.00 Cr
Profit before Tax (PBT)	₹373.00 Cr	₹464.00 Cr	₹512.00 Cr	₹802.00 Cr	₹458.00 Cr	₹577.00 Cr	₹174.00 Cr	₹1,053 Cr	₹515.00 Cr	₹1,045 Cr	₹723.00 Cr	₹649.00 Cr	₹423.00 Cr
Net Profit (PAT)	₹526.00 Cr	₹622.00 Cr	₹656.00 Cr	₹920.00 Cr	₹645.00 Cr	₹1,381 Cr	₹1,059 Cr	₹1,282 Cr	₹763.00 Cr	₹1,180 Cr	₹1,203 Cr	₹1,269 Cr	₹794.00 Cr
EPS in ₹	₹2.13	₹2.52	₹2.65	₹3.72	₹2.61	₹5.58	₹4.28	₹5.18	₹3.08	₹4.77	₹4.86	₹5.12	₹3.21

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹7,649 Cr	₹9,926 Cr	₹8,221 Cr	₹6,707 Cr	₹8,366 Cr	₹6,083 Cr	₹5,414 Cr	₹5,717 Cr	₹5,695 Cr	₹6,427 Cr	₹7,994 Cr	₹8,194 Cr	₹6,758 Cr
Expenses	₹4,635 Cr	₹5,960 Cr	₹4,775 Cr	₹4,329 Cr	₹6,218 Cr	₹4,937 Cr	₹3,945 Cr	₹3,974 Cr	₹3,969 Cr	₹4,303 Cr	₹5,885 Cr	₹6,746 Cr	₹5,523 Cr
Operating Profit	₹3,014 Cr	₹3,966 Cr	₹3,446 Cr	₹2,378 Cr	₹2,148 Cr	₹1,146 Cr	₹1,469 Cr	₹1,743 Cr	₹1,726 Cr	₹2,124 Cr	₹2,109 Cr	₹1,449 Cr	₹1,234 Cr
OPM %	39%	40%	42%	35%	26%	19%	27%	30%	30%	33%	26%	18%	18%
Interest	₹2,304 Cr	₹2,680 Cr	₹2,980 Cr	₹2,951 Cr	₹2,062 Cr	₹1,427 Cr	₹853.00 Cr	₹625.00 Cr	₹392.00 Cr	₹356.00 Cr	₹397.00 Cr	₹199.00 Cr	₹138.00 Cr
Depreciation	₹545.00 Cr	₹766.00 Cr	₹572.00 Cr	₹534.00 Cr	₹225.00 Cr	₹200.00 Cr	₹159.00 Cr	₹149.00 Cr	₹149.00 Cr	₹148.00 Cr	₹151.00 Cr	₹142.00 Cr	₹143.00 Cr
Profit before Tax	₹668.00 Cr	₹1,026 Cr	₹1,030 Cr	₹8,615 Cr	₹646.00 Cr	₹653.00 Cr	₹840.00 Cr	₹1,165 Cr	₹1,502 Cr	₹2,151 Cr	₹2,261 Cr	₹2,932 Cr	₹2,839 Cr
Net Profit	₹507.00 Cr	₹305.00 Cr	₹708.00 Cr	₹4,477 Cr	₹1,314 Cr	-₹590.00 Cr	₹1,083 Cr	₹1,500 Cr	₹2,034 Cr	₹2,724 Cr	₹4,367 Cr	₹4,415 Cr	₹4,446 Cr
EPS in Rs	3.03	1.72	4.01	25.02	5.98	-2.36	4.42	6.06	8.22	11.02	17.64	17.83	17.96

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹356.00 Cr	₹357.00 Cr	₹357.00 Cr	₹357.00 Cr	₹441.00 Cr	₹495.00 Cr	₹495.00 Cr	₹495.00 Cr	₹495.00 Cr	₹495.00 Cr	₹495.00 Cr	₹495.00 Cr
Reserves & Surplus	₹27,013 Cr	₹23,712 Cr	₹24,216 Cr	₹34,954 Cr	₹33,135 Cr	₹33,952 Cr	₹34,849 Cr	₹35,867 Cr	₹37,192 Cr	₹38,936 Cr	₹42,055 Cr	₹44,978 Cr
Borrowings (Debt)	₹24,495 Cr	₹25,264 Cr	₹29,202 Cr	₹17,491 Cr	₹17,222 Cr	₹8,103 Cr	₹6,886 Cr	₹4,182 Cr	₹3,334 Cr	₹4,834 Cr	₹4,103 Cr	₹306.00 Cr
Total Liabilities	₹66,262 Cr	₹61,729 Cr	₹63,954 Cr	₹60,585 Cr	₹66,483 Cr	₹55,890 Cr	₹53,488 Cr	₹51,167 Cr	₹52,572 Cr	₹59,069 Cr	₹68,472 Cr	₹73,465 Cr
Fixed Assets	₹19,619 Cr	₹3,943 Cr	₹24,640 Cr	₹8,082 Cr	₹6,322 Cr	₹5,187 Cr	₹4,856 Cr	₹4,862 Cr	₹4,785 Cr	₹3,880 Cr	₹3,502 Cr	₹4,114 Cr
Total Assets	₹66,262 Cr	₹61,729 Cr	₹63,954 Cr	₹60,585 Cr	₹66,483 Cr	₹55,890 Cr	₹53,488 Cr	₹51,167 Cr	₹52,572 Cr	₹59,069 Cr	₹68,472 Cr	₹73,465 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹2,037 Cr	₹2,957 Cr	-₹898.00 Cr	₹270.00 Cr	₹2,043 Cr	₹356.00 Cr	₹1,460 Cr	₹2,832 Cr	₹2,375 Cr	₹2,539 Cr	₹5,235 Cr	₹6,347 Cr
Cash from Investing (CFI)	₹98.00 Cr	-₹818.00 Cr	₹872.00 Cr	-₹2,102 Cr	₹3.00 Cr	₹6,508 Cr	₹150.00 Cr	₹267.00 Cr	-₹461.00 Cr	-₹1,529 Cr	-₹3,475 Cr	₹721.00 Cr
Cash from Financing (CFF)	-₹1,547 Cr	-₹1,929 Cr	₹787.00 Cr	-₹232.00 Cr	₹875.00 Cr	-₹9,522 Cr	-₹2,184 Cr	-₹3,828 Cr	-₹2,013 Cr	₹177.00 Cr	-₹2,403 Cr	-₹5,547 Cr
Free Cash Flow (FCF)	₹1,198 Cr	₹2,371 Cr	-₹1,101 Cr	-₹455.00 Cr	₹1,474 Cr	₹217.00 Cr	₹1,529 Cr	₹2,684 Cr	₹2,321 Cr	₹3,166 Cr	₹5,140 Cr	₹6,231 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	76	126	63	70	36	43	39	36	35	31	37	38
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	0
Cash Conversion Cycle (Days)	76	126	63	70	36	43	39	36	35	31	37	38
ROCE %	6%	8%	7%	5%	5%	4%	4%	5%	5%	6%	7%	6%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹265.29 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹742.65

DCF Fair Value

₹265.29

Graham Number

₹268.16

Margin of Safety

-64.1%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹265.29

Premium / Overvalued (Margin: -64.1%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹258	₹256	₹254	₹251
10%	₹263	₹261	₹258	₹256
12%	₹268	₹265	₹263	₹261
14%	₹273	₹270	₹268	₹265

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹265	Fairly Valued
Benjamin Graham Number	₹268	Market Priced
Historical Sector P/E	₹382	Premium
EV / EBITDA Multiplier	₹780	In-Line
Free Cash Flow Yield Model	₹728	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 7/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

7 / 9 Pass

Altman Z-Score

5.37 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.01x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 18.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

74.08%

FIIs (Foreign)

12.31%

DIIs (Domestic)

8.03%

Government

0.15%

Public / Retail

5.56%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%
+ FIIs (Foreign Portfolio)	15.89%	15.75%	16.53%	16.17%	16.66%	16.37%	16.27%	15.98%	15.46%	14.82%	13.54%	12.31%
+ DIIs (Mutual Funds / Insurance)	5.27%	5.47%	4.77%	4.81%	4.66%	4.87%	4.72%	5.01%	5.21%	5.78%	6.94%	8.03%
+ Public (Retail & HNIs)	4.76%	4.72%	4.62%	4.95%	4.62%	4.69%	4.93%	4.93%	5.25%	5.34%	5.43%	5.56%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Infrastructure & Realty.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

DLF Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

DLF Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

DLF Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹950.59

Accelerated market share capture in Infrastructure & Realty, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹831.77

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 38x P/E.

🐻 Bear Case (15%) -12.0%

₹653.53

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Infrastructure & Realty)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:29 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ DLF Ltd (DLF)	Target Stock	₹742.65	-1.64%	37.9x	9.5%	6.3%	0.01	₹1.63 Lakh Cr
Larsen & Toubro Ltd (LT)	Heavy Engineering & EPC Infrastructure	₹4,212.00	+0.65%	28.8x	15.9%	14.6%	1.15	₹5.08 Lakh Cr
Adani Ports & SEZ Ltd (ADANIPORTS)	Sector Peer	₹1,907.00	-1.84%	29.3x	16.4%	14.1%	0.66	₹4.03 Lakh Cr
ABB India Ltd (ABB)	Sector Peer	₹6,963.00	+0.69%	94.9x	22.4%	29.9%	0.02	₹1.46 Lakh Cr
Siemens Ltd (SIEMENS)	Sector Peer	₹3,690.00	+0.96%	91.1x	19.2%	21.4%	0.02	₹1.37 Lakh Cr
Polycab India Ltd (POLYCAB)	Sector Peer	₹7,948.00	+1.47%	42.0x	23.0%	33.2%	0.02	₹1.20 Lakh Cr
Oberoi Realty Ltd (OBEROIRLTY)	Premium Residential & Mixed Use	₹1,744.30	-1.73%	29.2x	12.5%	15.0%	0.18	₹63,798 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:29:47 IST	✓ Live Sync
Financial Statements (10Y)	DLF Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

DLF Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About DLF Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Infrastructure & Realty)

Metric Explainer

Stock DNA Methodology

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