Develops and sells residential and commercial real estate in India, with a focus on luxury housing in Gurugram and Mumbai, alongside a rental business that owns and leases office and retail properties. In FY26, new sales bookings totalled ₹20,143 crores and the company collected ₹13,500 crores from customers, with the super-luxury Dahlias project selling 32 apartments in Q4 at average prices of ₹90–100 crores per unit and Camellias at ₹1,20,000 per sq ft. The rental portfolio spans 50 million square feet at 95% occupancy; the rental subsidiary DCCDL posted ₹7,400 crores of revenue and ₹5,700 crores of EBITDA in FY26, with FY27 exit rent guided to ₹8,200 crores. The development business carries zero gross debt and the company sits on a net cash position of ₹14,155 crores, including ₹11,200 crores in RERA escrow. Materials are the biggest input at 59.2% of revenue, with employee costs at 7.8% and other operating expenses at 15.3%. The FY27 launch pipeline of ₹20,000 crores spans Gurugram (DLF City, Arbour Senior Living), Mumbai (Westpark Phase 2), and Goa. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Development, Rental (DCCDL). Asset-heavy real estate; cyclical development cash flows paired with a recurring rental annuity
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,717 | 5,695 | 6,427 | 7,994 | 8,194 |
| EBITDA (ex other income) | 1,518 | 1,726 | 2,124 | 1,806 | 1,651 |
| margin % | 26.6 | 30.3 | 33.0 | 22.6 | 20.2 |
| Owners' profit | 1,501 | 2,036 | 2,727 | 4,368 | 4,415 |
| EPS, as reported (₹) | 6.06 | 8.22 | 11.02 | 17.64 | 17.83 |
| ROE % · ROCE % | 4.1 · 4.2 | 5.4 · 4.4 | 6.9 · 5.4 | 10.3 · 5.6 | 9.7 · 6.4 |
| Debt / equity (x) | 0.11 | 0.09 | 0.12 | 0.10 | 0.00 |
| Cash from operations | 2,832 | 2,375 | 2,539 | 5,235 | 6,347 |
| Capex | (148) | (64) | (116) | (96) | (129) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,975 | 1,529 | 3,128 | 2,717 | 1,643 | 2,020 | 1,814 | 1,280 |
| Profit before tax | 577 | 174 | 1,053 | 515 | 1,045 | 723 | 649 | 423 |
| Net profit | 1,381 | 1,059 | 1,282 | 763 | 1,180 | 1,203 | 1,269 | 794 |
| EPS (₹) | 5.58 | 4.28 | 5.18 | 3.08 | 4.77 | 4.86 | 5.12 | 3.21 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DLF LIMITED ◆ | 1,59,533 | 35.9 | 3.51 | 48.1 | 9.7 | 6.0 | 8.6 | 37.1 |
| LODHA DEVELOPERS LIMITED | 1,11,589 | 27.0 | 4.76 | 22.1 | 14.6 | 15.7 | 25.1 | 40.5 |
| THE PHOENIX MILLS LTD | 67,594 | 52.8 | 4.73 | 26.2 | 10.9 | 9.9 | 32.7 | 63.4 |
| PRESTIGE ESTATE LTD | 64,519 | 56.6 | 3.85 | 18.5 | 7.8 | 6.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 18 Aug 2026 · DLF arm acquires 26.97% stake in Balang Renewables for 4.20 crore | general | medium | — | — |
| 7 Aug 2026 · DLF Q1 FY27: net profit INR 794 cr, sales muted at INR 657 cr on delayed launch | investor communications | medium | — | — |
| 4 Aug 2026 · Earnings call recording for Q1FY27 results now available | investor communications | low | — | — |
| 4 Aug 2026 · DLF publishes Q1FY27 unaudited results extracts in newspapers | compliance | minimal | — | — |
| 4 Aug 2026 · DLF Limited Q1FY27 unaudited results published in newspapers | compliance | minimal | — | — |
| 3 Aug 2026 · DLF 61st AGM: All 5 resolutions approved, dividend declared | board shareholder meetings | low | — | — |
| 3 Aug 2026 · DLF Chairman highlights FY26 strong performance at 61st AGM | investor communications | medium | — | — |
| 3 Aug 2026 · DLF 61st AGM held on 3 August 2026; all 5 resolutions passed | board shareholder meetings | medium | — | — |
| 3 Aug 2026 · DLF Q1FY27 Results: PAT Rs 794 cr, Net Cash Rs 15,200 cr | board shareholder meetings | low | — | — |
| 3 Aug 2026 · DLF Q1FY27 results: Net profit Rs 794 cr, up 4% YoY | compliance | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 11.8 |
| 38.1 |
| OBEROI REALTY LIMITED | 63,306 | 20.8 | 3.53 | 18.2 | 14.0 | 15.5 | 24.0 | 61.1 |
| GODREJ PROPERTIES LTD | 52,653 | 32.9 | 2.72 | 23.7 | 9.5 | 11.4 | 46.3 | 107.7 |
| ANANT RAJ LIMITED | 21,490 | 36.2 | 3.69 | 29.3 | 9.6 | 10.2 | 58.7 | 32.1 |
| BRIGADE ENTER. LTD | 20,941 | 24.4 | 2.78 | 15.7 | 9.6 | 6.8 | 23.9 | 41.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 35.9 | 21.8 | 44 of 57 | 23% |
| P/B | 3.5 | 2.1 | 50 of 64 | 22% |
| ROCE | 6.0 | 6.8 | 36 of 67 | 47% |
| ROE | 9.7 | 8.2 | 26 of 67 | 62% |
| Debt / Equity | 0.0 | 0.4 | 8 of 67 | 89% |
| EBITDA margin | 37.1 | 29.6 | 24 of 66 | 65% |
| Revenue growth | (52.9) | 12.8 | 61 of 67 | 9% |
| Profit growth | 4.1 | 7.5 | 37 of 66 | 45% |
| Market cap | 159533 | 2250 | 1 of 67 | 100% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
