DLF Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 21, 2025, 2:04 pm

Market Cap	1,67,566 Cr.
Current Price	677
High / Low	929/601
Stock P/E	44.6
Book Value	163
Dividend Yield	0.73 %
ROCE	5.74 %
ROE	6.95 %
Face Value	2.00
PEG Ratio	1.50

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for DLF Ltd

Competitors of DLF Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Hampton Sky Realty Ltd	754 Cr.	27.5	38.3/20.5	31.6	5.74	0.00 %	15.7 %	10.6 %	1.00
Grovy India Ltd	70.6 Cr.	53.0	98.2/22.8	43.3	13.9	0.05 %	5.79 %	5.27 %	10.0
Gothi Plascon (India) Ltd	50.0 Cr.	49.1	53.6/32.2	32.9	12.4	4.08 %	17.8 %	12.9 %	10.0
Generic Engineering Construction & Projects Ltd	180 Cr.	31.6	71.0/22.0	17.5	48.5	0.00 %	6.61 %	4.33 %	5.00
Garnet Construction Ltd	37.1 Cr.	26.7	57.2/21.6	6.97	73.3	0.00 %	4.51 %	3.13 %	10.0
Industry Average	17,662.80 Cr	438.20		49.25	132.01	0.55%	10.29%	8.69%	6.13

All Competitor Stocks of DLF Ltd

Quarterly Result

Metric	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Sales	1,713	1,140	1,481	1,550	1,547	1,442	1,302	1,495	1,456	1,423	1,348	1,521	2,135
Expenses	1,259	744	1,023	1,028	1,180	1,028	866	1,018	1,058	1,027	885	1,010	1,381
Operating Profit	454	395	458	521	368	414	437	477	398	396	462	511	754
OPM %	26%	35%	31%	34%	24%	29%	34%	32%	27%	28%	34%	34%	35%
Other Income	194	103	76	-87	105	75	58	65	120	98	129	122	182
Interest	191	175	176	146	128	105	107	95	85	85	90	84	98
Depreciation	38	38	37	37	37	37	37	39	36	36	37	38	37
Profit before tax	418	285	321	251	307	346	351	408	397	373	464	512	802
Tax %	38%	29%	29%	24%	27%	25%	26%	27%	28%	27%	24%	26%	21%
Net Profit	477	337	378	379	406	469	477	518	570	526	622	656	920
EPS in Rs	1.94	1.36	1.53	1.53	1.64	1.90	1.93	2.10	2.30	2.13	2.52	2.65	3.72

Last Updated: Unknown

Below is a detailed analysis of the quarterly data for DLF Ltd based on the most recent figures (Mar 2024) and their trends compared to the previous period:

For Sales, as of Mar 2024, the value is 2,135.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,521.00 Cr. (Dec 2023) to 2,135.00 Cr., marking an increase of 614.00 Cr..
For Expenses, as of Mar 2024, the value is 1,381.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,010.00 Cr. (Dec 2023) to 1,381.00 Cr., marking an increase of 371.00 Cr..
For Operating Profit, as of Mar 2024, the value is 754.00 Cr.. The value appears strong and on an upward trend. It has increased from 511.00 Cr. (Dec 2023) to 754.00 Cr., marking an increase of 243.00 Cr..
For OPM %, as of Mar 2024, the value is 35.00%. The value appears strong and on an upward trend. It has increased from 34.00% (Dec 2023) to 35.00%, marking an increase of 1.00%.
For Other Income, as of Mar 2024, the value is 182.00 Cr.. The value appears strong and on an upward trend. It has increased from 122.00 Cr. (Dec 2023) to 182.00 Cr., marking an increase of 60.00 Cr..
For Interest, as of Mar 2024, the value is 98.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 84.00 Cr. (Dec 2023) to 98.00 Cr., marking an increase of 14.00 Cr..
For Depreciation, as of Mar 2024, the value is 37.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 38.00 Cr. (Dec 2023) to 37.00 Cr., marking a decrease of 1.00 Cr..
For Profit before tax, as of Mar 2024, the value is 802.00 Cr.. The value appears strong and on an upward trend. It has increased from 512.00 Cr. (Dec 2023) to 802.00 Cr., marking an increase of 290.00 Cr..
For Tax %, as of Mar 2024, the value is 21.00%. The value appears to be improving (decreasing) as expected. It has decreased from 26.00% (Dec 2023) to 21.00%, marking a decrease of 5.00%.
For Net Profit, as of Mar 2024, the value is 920.00 Cr.. The value appears strong and on an upward trend. It has increased from 656.00 Cr. (Dec 2023) to 920.00 Cr., marking an increase of 264.00 Cr..
For EPS in Rs, as of Mar 2024, the value is 3.72. The value appears strong and on an upward trend. It has increased from 2.65 (Dec 2023) to 3.72, marking an increase of 1.07.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 4:26 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	7,773	8,298	7,649	9,926	8,221	6,707	8,366	6,083	5,414	5,717	5,695	6,427	7,001
Expenses	5,140	5,805	4,635	5,960	4,775	4,329	6,218	4,937	3,945	3,974	3,969	4,303	5,116
Operating Profit	2,633	2,493	3,014	3,966	3,446	2,378	2,148	1,146	1,469	1,743	1,726	2,124	1,885
OPM %	34%	30%	39%	40%	42%	35%	26%	19%	27%	30%	30%	33%	27%
Other Income	1,279	1,133	503	506	1,135	9,722	784	1,135	383	195	317	531	662
Interest	2,314	2,463	2,304	2,680	2,980	2,951	2,062	1,427	853	625	392	356	386
Depreciation	796	663	545	766	572	534	225	200	159	149	149	148	150
Profit before tax	802	500	668	1,026	1,030	8,615	646	653	840	1,165	1,502	2,151	2,010
Tax %	17%	-16%	24%	55%	22%	50%	43%	326%	43%	28%	27%	24%
Net Profit	667	590	507	305	708	4,477	1,314	-590	1,083	1,500	2,034	2,724	4,004
EPS in Rs	4.19	3.63	3.03	1.72	4.01	25.02	5.98	-2.36	4.42	6.06	8.22	11.02	16.19
Dividend Payout %	48%	55%	66%	117%	50%	8%	33%	-85%	45%	49%	49%	45%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-11.54%	-14.07%	-39.84%	132.13%	532.34%	-70.65%	-144.90%	283.56%	38.50%	35.60%	33.92%
Change in YoY Net Profit Growth (%)	0.00%	-2.52%	-25.77%	171.97%	400.21%	-602.99%	-74.25%	428.46%	-245.06%	-2.90%	-1.68%

DLF Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	-3%
5 Years:	-5%
3 Years:	6%
TTM:	22%

Compounded Profit Growth
10 Years:	20%
5 Years:	17%
3 Years:	33%
TTM:	58%

Stock Price CAGR
10 Years:	18%
5 Years:	38%
3 Years:	22%
1 Year:	-21%

Return on Equity
10 Years:	3%
5 Years:	4%
3 Years:	6%
Last Year:	7%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:44 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	340	356	356	357	357	357	441	495	495	495	495	495	495
Reserves	25,389	27,039	27,013	23,712	24,216	34,954	33,135	33,952	34,849	35,867	37,192	38,936	39,732
Borrowings	26,600	24,133	24,495	25,264	29,202	17,491	17,222	8,103	6,886	4,182	3,334	4,834	4,290
Other Liabilities	12,318	12,997	14,398	12,396	10,179	7,783	15,684	13,341	11,258	10,623	11,551	14,804	18,062
Total Liabilities	64,647	64,525	66,262	61,729	63,954	60,585	66,483	55,890	53,488	51,167	52,572	59,069	62,579
Fixed Assets	19,849	18,835	19,619	3,943	24,640	8,082	6,322	5,187	4,856	4,862	4,785	3,880	3,836
CWIP	7,834	5,979	5,901	1,779	153	137	103	89	95	81	61	71	73
Investments	1,334	891	623	21,310	1,209	20,832	21,005	18,566	19,746	19,779	19,481	20,138	20,900
Other Assets	35,630	38,820	40,119	34,697	37,952	31,533	39,053	32,049	28,791	26,444	28,245	34,981	37,770
Total Assets	64,647	64,525	66,262	61,729	63,954	60,585	66,483	55,890	53,488	51,167	52,572	59,069	62,579

Below is a detailed analysis of the balance sheet data for DLF Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹495.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 495.00 Cr..
For Reserves, as of Sep 2024, the value is ₹39,732.00 Cr.. The value appears strong and on an upward trend. It has increased from 38,936.00 Cr. (Mar 2024) to ₹39,732.00 Cr., marking an increase of 796.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹4,290.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 4,834.00 Cr. (Mar 2024) to ₹4,290.00 Cr., marking a decrease of 544.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹18,062.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 14,804.00 Cr. (Mar 2024) to ₹18,062.00 Cr., marking an increase of 3,258.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹62,579.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 59,069.00 Cr. (Mar 2024) to ₹62,579.00 Cr., marking an increase of 3,510.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹3,836.00 Cr.. The value appears to be declining and may need further review. It has decreased from 3,880.00 Cr. (Mar 2024) to ₹3,836.00 Cr., marking a decrease of 44.00 Cr..
For CWIP, as of Sep 2024, the value is ₹73.00 Cr.. The value appears strong and on an upward trend. It has increased from 71.00 Cr. (Mar 2024) to ₹73.00 Cr., marking an increase of 2.00 Cr..
For Investments, as of Sep 2024, the value is ₹20,900.00 Cr.. The value appears strong and on an upward trend. It has increased from 20,138.00 Cr. (Mar 2024) to ₹20,900.00 Cr., marking an increase of 762.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹37,770.00 Cr.. The value appears strong and on an upward trend. It has increased from 34,981.00 Cr. (Mar 2024) to ₹37,770.00 Cr., marking an increase of 2,789.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹62,579.00 Cr.. The value appears strong and on an upward trend. It has increased from 59,069.00 Cr. (Mar 2024) to ₹62,579.00 Cr., marking an increase of 3,510.00 Cr..

Notably, the Reserves (39,732.00 Cr.) exceed the Borrowings (4,290.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	2,009	1,468	2,037	2,957	-898	270	2,043	356	1,460	2,832	2,375	2,539
Cash from Investing Activity +	1,995	3,924	98	-818	872	-2,102	3	6,508	150	267	-461	-1,529
Cash from Financing Activity +	-3,951	-4,532	-1,547	-1,929	787	-232	875	-9,522	-2,184	-3,828	-2,013	177
Net Cash Flow	52	860	588	210	761	-2,064	2,921	-2,658	-573	-729	-98	1,186

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-24.00	-22.00	-21.00	-22.00	-26.00	-15.00	-15.00	-7.00	-5.00	-3.00	-2.00	-2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	78	69	76	126	63	70	36	43	39	36	35	31
Inventory Days
Days Payable
Cash Conversion Cycle	78	69	76	126	63	70	36	43	39	36	35	31
Working Capital Days	661	670	832	389	685	974	532	759	1,016	913	874	868
ROCE %	4%	5%	6%	8%	7%	5%	5%	4%	4%	5%	5%	6%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.08%	74.08%	74.08%	74.08%	74.08%	74.08%
FIIs	15.39%	14.93%	14.90%	14.84%	14.66%	15.30%	15.89%	15.75%	16.53%	16.17%	16.66%	16.37%
DIIs	4.10%	4.56%	4.80%	5.09%	5.23%	4.87%	5.27%	5.47%	4.77%	4.81%	4.66%	4.87%
Public	5.56%	5.56%	5.36%	5.12%	5.16%	4.88%	4.76%	4.72%	4.62%	4.95%	4.62%	4.69%
No. of Shareholders	4,34,871	4,42,881	4,25,959	4,07,444	4,22,152	4,06,280	3,95,845	4,04,832	4,26,253	4,66,987	4,39,141	4,58,323

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI Blue Chip Fund	9,000,000	1.59	734.09	N/A	N/A	N/A
ICICI Prudential Bluechip Fund	8,280,005	1.22	675.36	N/A	N/A	N/A
SBI Balanced Advantage Fund	5,902,050	1.6	481.4	N/A	N/A	N/A
Kotak Equity Arbitrage Fund - Regular Plan	5,757,675	1.01	469.62	N/A	N/A	N/A
Aditya Birla Sun Life Frontline Equity Fund	4,551,467	1.36	371.24	N/A	N/A	N/A
Axis Focused Fund	2,940,044	1.8	239.8	18,551,222	2025-04-22 13:59:49	-84.15%
Axis Bluechip Fund	2,499,177	0.62	203.85	N/A	N/A	N/A
UTI Nifty200 Momentum 30 Index Fund	2,396,162	3.11	195.44	N/A	N/A	N/A
SBI Arbitrage Opportunities Fund	2,236,575	0.59	182.43	N/A	N/A	N/A
ICICI Prudential Business Cycle Fund	1,946,445	1.64	158.76	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	11.02	8.22	6.06	4.42	-2.41
Diluted EPS (Rs.)	11.02	8.22	6.06	4.42	-2.41
Cash EPS (Rs.)	7.18	5.05	4.01	2.57	-5.17
Book Value[Excl.RevalReserv]/Share (Rs.)	159.30	152.27	146.98	142.87	139.23
Book Value[Incl.RevalReserv]/Share (Rs.)	159.30	152.27	146.98	142.87	139.23
Revenue From Operations / Share (Rs.)	25.96	23.01	23.10	21.87	24.57
PBDIT / Share (Rs.)	10.73	8.25	8.74	7.87	7.84
PBIT / Share (Rs.)	10.13	7.65	8.13	7.23	7.03
PBT / Share (Rs.)	8.69	6.07	4.70	3.39	2.64
Net Profit / Share (Rs.)	6.59	4.45	3.41	1.93	-5.98
NP After MI And SOA / Share (Rs.)	11.02	8.22	6.06	4.42	-2.36
PBDIT Margin (%)	41.30	35.87	37.83	35.99	31.89
PBIT Margin (%)	39.00	33.26	35.21	33.04	28.60
PBT Margin (%)	33.46	26.38	20.36	15.50	10.74
Net Profit Margin (%)	25.36	19.33	14.75	8.81	-24.31
NP After MI And SOA Margin (%)	42.43	35.74	26.25	20.19	-9.58
Return on Networth / Equity (%)	6.91	5.40	4.12	3.09	-1.69
Return on Capital Employeed (%)	5.43	4.43	4.78	4.25	4.19
Return On Assets (%)	4.52	3.77	2.85	1.99	-1.01
Long Term Debt / Equity (X)	0.06	0.02	0.06	0.09	0.11
Total Debt / Equity (X)	0.11	0.08	0.10	0.15	0.18
Asset Turnover Ratio (%)	0.11	0.08	0.08	0.08	0.04
Current Ratio (X)	2.30	2.30	2.32	2.08	1.83
Quick Ratio (X)	0.80	0.57	0.38	0.43	0.40
Dividend Payout Ratio (NP) (%)	36.30	36.47	32.98	18.10	-135.81
Dividend Payout Ratio (CP) (%)	34.43	33.99	29.99	15.80	-206.87
Earning Retention Ratio (%)	63.70	63.53	67.02	81.90	235.81
Cash Earning Retention Ratio (%)	65.57	66.01	70.01	84.20	306.87
Interest Coverage Ratio (X)	7.45	5.21	3.46	2.28	1.36
Interest Coverage Ratio (Post Tax) (X)	5.57	3.81	2.71	1.67	-0.27
Enterprise Value (Cr.)	222572.40	89201.35	97221.07	75306.92	37963.00
EV / Net Operating Revenue (X)	34.63	15.66	17.00	13.91	6.24
EV / EBITDA (X)	83.83	43.66	44.95	38.65	19.56
MarketCap / Net Operating Revenue (X)	34.60	15.52	16.47	13.12	5.60
Retention Ratios (%)	63.69	63.52	67.01	81.89	235.81
Price / BV (X)	5.64	2.34	2.59	2.01	0.98
Price / Net Operating Revenue (X)	34.60	15.52	16.47	13.12	5.60
EarningsYield	0.01	0.02	0.01	0.01	-0.01

After reviewing the key financial ratios for DLF Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 24, the value is 11.02. This value is within the healthy range. It has increased from 8.22 (Mar 23) to 11.02, marking an increase of 2.80.
For Diluted EPS (Rs.), as of Mar 24, the value is 11.02. This value is within the healthy range. It has increased from 8.22 (Mar 23) to 11.02, marking an increase of 2.80.
For Cash EPS (Rs.), as of Mar 24, the value is 7.18. This value is within the healthy range. It has increased from 5.05 (Mar 23) to 7.18, marking an increase of 2.13.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 159.30. It has increased from 152.27 (Mar 23) to 159.30, marking an increase of 7.03.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 159.30. It has increased from 152.27 (Mar 23) to 159.30, marking an increase of 7.03.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 25.96. It has increased from 23.01 (Mar 23) to 25.96, marking an increase of 2.95.
For PBDIT / Share (Rs.), as of Mar 24, the value is 10.73. This value is within the healthy range. It has increased from 8.25 (Mar 23) to 10.73, marking an increase of 2.48.
For PBIT / Share (Rs.), as of Mar 24, the value is 10.13. This value is within the healthy range. It has increased from 7.65 (Mar 23) to 10.13, marking an increase of 2.48.
For PBT / Share (Rs.), as of Mar 24, the value is 8.69. This value is within the healthy range. It has increased from 6.07 (Mar 23) to 8.69, marking an increase of 2.62.
For Net Profit / Share (Rs.), as of Mar 24, the value is 6.59. This value is within the healthy range. It has increased from 4.45 (Mar 23) to 6.59, marking an increase of 2.14.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 11.02. This value is within the healthy range. It has increased from 8.22 (Mar 23) to 11.02, marking an increase of 2.80.
For PBDIT Margin (%), as of Mar 24, the value is 41.30. This value is within the healthy range. It has increased from 35.87 (Mar 23) to 41.30, marking an increase of 5.43.
For PBIT Margin (%), as of Mar 24, the value is 39.00. This value exceeds the healthy maximum of 20. It has increased from 33.26 (Mar 23) to 39.00, marking an increase of 5.74.
For PBT Margin (%), as of Mar 24, the value is 33.46. This value is within the healthy range. It has increased from 26.38 (Mar 23) to 33.46, marking an increase of 7.08.
For Net Profit Margin (%), as of Mar 24, the value is 25.36. This value exceeds the healthy maximum of 10. It has increased from 19.33 (Mar 23) to 25.36, marking an increase of 6.03.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 42.43. This value exceeds the healthy maximum of 20. It has increased from 35.74 (Mar 23) to 42.43, marking an increase of 6.69.
For Return on Networth / Equity (%), as of Mar 24, the value is 6.91. This value is below the healthy minimum of 15. It has increased from 5.40 (Mar 23) to 6.91, marking an increase of 1.51.
For Return on Capital Employeed (%), as of Mar 24, the value is 5.43. This value is below the healthy minimum of 10. It has increased from 4.43 (Mar 23) to 5.43, marking an increase of 1.00.
For Return On Assets (%), as of Mar 24, the value is 4.52. This value is below the healthy minimum of 5. It has increased from 3.77 (Mar 23) to 4.52, marking an increase of 0.75.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.06. This value is below the healthy minimum of 0.2. It has increased from 0.02 (Mar 23) to 0.06, marking an increase of 0.04.
For Total Debt / Equity (X), as of Mar 24, the value is 0.11. This value is within the healthy range. It has increased from 0.08 (Mar 23) to 0.11, marking an increase of 0.03.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.11. It has increased from 0.08 (Mar 23) to 0.11, marking an increase of 0.03.
For Current Ratio (X), as of Mar 24, the value is 2.30. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.30.
For Quick Ratio (X), as of Mar 24, the value is 0.80. This value is below the healthy minimum of 1. It has increased from 0.57 (Mar 23) to 0.80, marking an increase of 0.23.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 36.30. This value is within the healthy range. It has decreased from 36.47 (Mar 23) to 36.30, marking a decrease of 0.17.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 34.43. This value is within the healthy range. It has increased from 33.99 (Mar 23) to 34.43, marking an increase of 0.44.
For Earning Retention Ratio (%), as of Mar 24, the value is 63.70. This value is within the healthy range. It has increased from 63.53 (Mar 23) to 63.70, marking an increase of 0.17.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 65.57. This value is within the healthy range. It has decreased from 66.01 (Mar 23) to 65.57, marking a decrease of 0.44.
For Interest Coverage Ratio (X), as of Mar 24, the value is 7.45. This value is within the healthy range. It has increased from 5.21 (Mar 23) to 7.45, marking an increase of 2.24.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 5.57. This value is within the healthy range. It has increased from 3.81 (Mar 23) to 5.57, marking an increase of 1.76.
For Enterprise Value (Cr.), as of Mar 24, the value is 222,572.40. It has increased from 89,201.35 (Mar 23) to 222,572.40, marking an increase of 133,371.05.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 34.63. This value exceeds the healthy maximum of 3. It has increased from 15.66 (Mar 23) to 34.63, marking an increase of 18.97.
For EV / EBITDA (X), as of Mar 24, the value is 83.83. This value exceeds the healthy maximum of 15. It has increased from 43.66 (Mar 23) to 83.83, marking an increase of 40.17.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 34.60. This value exceeds the healthy maximum of 3. It has increased from 15.52 (Mar 23) to 34.60, marking an increase of 19.08.
For Retention Ratios (%), as of Mar 24, the value is 63.69. This value is within the healthy range. It has increased from 63.52 (Mar 23) to 63.69, marking an increase of 0.17.
For Price / BV (X), as of Mar 24, the value is 5.64. This value exceeds the healthy maximum of 3. It has increased from 2.34 (Mar 23) to 5.64, marking an increase of 3.30.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 34.60. This value exceeds the healthy maximum of 3. It has increased from 15.52 (Mar 23) to 34.60, marking an increase of 19.08.
For EarningsYield, as of Mar 24, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.02 (Mar 23) to 0.01, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of DLF Ltd as of April 22, 2025 is: 407.15

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 22, 2025, DLF Ltd is Overvalued by 39.86% compared to the current share price 677.00

Intrinsic Value of DLF Ltd as of April 22, 2025 is: 527.86

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 22, 2025, DLF Ltd is Overvalued by 22.03% compared to the current share price 677.00

Last 5 Year EPS CAGR: 29.65%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (31,998.92 cr) compared to borrowings (15,079.69 cr), indicating strong financial stability. The company has shown consistent growth in sales (6.69 cr) and profit (317.31 cr) over the years.	The stock has a low average ROCE of 5.33%, which may not be favorable. The stock has a high average Working Capital Days of 679.83, which may not be favorable. The stock has a high average Cash Conversion Cycle of 58.50, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in DLF Ltd:
1. Net Profit Margin: 25.36%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 5.43% (Industry Average ROCE: 9.97%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 6.91% (Industry Average ROE: 8.15%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 5.57
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.8
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 44.6 (Industry average Stock P/E: 43.1)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.11
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

DLF Ltd. is a Public Limited Listed company incorporated on 04/07/1963 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L70101HR1963PLC002484 and registration number is 002484. Currently Company is involved in the business activities of Real estate activities with own or leased property. Company's Total Operating Revenue is Rs. 3242.58 Cr. and Equity Capital is Rs. 495.06 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Realty	Shopping Mall, 3rd Floor, Gurgaon Haryana 122002	investor-relations@dlf.in http://www.dlf.in

Management
Name	Position Held
Dr. K P Singh	Chairman Emeritus
Mr. Rajiv Singh	Chairman
Mr. Ashok Kumar Tyagi	Managing Director & CFO
Mr. Devinder Singh	Managing Director
Ms. Pia Singh	Non Exe.Non Ind.Director
Ms. Savitri Devi Singh	Non Exe.Non Ind.Director
Ms. Anushka Singh	Non Exe.Non Ind.Director
Mr. A S Minocha	Lead Independent Director
Lt. Gen. (Retd.) Aditya Singh	Independent Director
Mr. Vivek Mehra	Independent Director
Ms. Priya Paul	Independent Director
Dr. Umesh Kumar Chaudhary	Independent Director
Lt. Gen. (Retd.) Ajai Singh	Independent Director

FAQ

What is the intrinsic value of DLF Ltd?

DLF Ltd's intrinsic value (as of 22 April 2025) is ₹407.15 — 39.86% lower the current market price of 677.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 1,67,566 Cr. market cap, FY2025-2026 high/low of ₹929/601, reserves of 39,732 Cr, and liabilities of 62,579 Cr.

What is the Market Cap of DLF Ltd?

The Market Cap of DLF Ltd is 1,67,566 Cr..

What is the current Stock Price of DLF Ltd as on 22 April 2025?

The current stock price of DLF Ltd as on 22 April 2025 is 677.

What is the High / Low of DLF Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of DLF Ltd stocks is ₹929/601.

What is the Stock P/E of DLF Ltd?

The Stock P/E of DLF Ltd is 44.6.

What is the Book Value of DLF Ltd?

The Book Value of DLF Ltd is 163.

What is the Dividend Yield of DLF Ltd?

The Dividend Yield of DLF Ltd is 0.73 %.

What is the ROCE of DLF Ltd?

The ROCE of DLF Ltd is 5.74 %.

What is the ROE of DLF Ltd?

The ROE of DLF Ltd is 6.95 %.

What is the Face Value of DLF Ltd?

The Face Value of DLF Ltd is 2.00.