DLF Ltd.
NSE: DLFDLF Ltd.: A 30-second snapshot
DLF, India's largest listed real estate developer by market capitalisation, trades at ₹580.05 — down 24.31% over 12 months and 34.11% below its 52-week high, with price currently below the 200-DMA (₹670.44) though marginally above the 50-DMA (₹574.17). The company reported FY26 net profit of ₹4,414.68 Cr on a trailing PE of 32.51 (forward PE 21.67), against a sector median PE of approximately 27, with D/E of 0.67 and a debt trend classified as falling.
P/E
32.5
Forward P/E
21.7
ROE
+10.0%
Debt / Equity
0.67
Profit Margin
+53.9%
Div. Yield
+1.0%
5Y ROE > 15%
0/5
5Y FCF > 0
4/5
Quality
54/100
News
8 headlines · 4 positive · 2 negative
Earnings Report: DLF Limited Missed Revenue Estimates By 9.8% - simplywall.st
simplywall.st
DLF FY26 Net Profit Rises to ₹4,414.68 Cr - scanx.trade
scanx.trade
DLF to invest additional Rs 21,300 cr to complete housing projects in Gurugram, other cities - The Economic Times
The Economic Times
DLF to invest ₹21,300 crore to complete housing projects across cities - Business Standard
Business Standard
DLF Q4 net flat, revenue slips 42%; new bookings at ₹20,143 cr, declares dividend - CNBC TV18
CNBC TV18
Recent context
- ·FY26 annual net profit of ₹4,414.68 Cr was reported alongside Q4 revenue that declined 42% YoY; new bookings for FY26 came in at ₹20,143 Cr with a declared dividend, per CNBC TV18 and scanx.trade coverage dated May 13–14, 2026.
- ·DLF announced ₹21,300 Cr in additional investment to complete housing projects across Gurugram and other cities, per Economic Times and Business Standard reporting from May 14, 2026.
- ·News sentiment across 8 recent articles is 4 positive, 2 neutral, 2 negative; the most recent negative item (simplywall.st, May 17 2026) flagged the 9.8% revenue estimate miss in the earnings report.
Strengths
- +FCF positive in 4 of the last measured years, with D/E of 0.67 on a falling debt trajectory — the balance sheet is meaningfully less leveraged than the realty sector median.
- +Forward PE of 21.67 compares to trailing PE of 32.51, implying analyst earnings-growth expectations are priced in at a compression of roughly 33% from trailing to forward multiple.
- +New bookings of ₹20,143 Cr in FY26 with announced investment of ₹21,300 Cr in pipeline housing projects across Gurugram and other cities represent a visible near-term order book.
- +Dividend yield of 1.02% with dividend declared in FY26, providing a modest income component alongside the capital return profile.
Weaknesses
- −Price has traded below the 200-DMA (₹670.44) while the current level of ₹580.05 represents a 34.11% drawdown from the 52-week high — a sustained multi-month technical deterioration.
- −5-year revenue growth of -42% and 5-year earnings growth of -1.1% indicate that the top line has contracted significantly over the medium term despite reported margin levels appearing elevated.
- −ROE of 10.03% has not exceeded 15% in any tracked year; the quality score of 29 ranks DLF last among the 6 tracked Realty peers, below OBEROIRLTY (65), PHOENIXLTD (55), LODHA (49), GODREJPROP (44), and PRESTIGE (25).
- −Q4 FY26 revenue slipped 42% YoY per published reporting, and the most recent earnings release showed revenue missing estimates by 9.8%, underscoring the gap between profit margin optics and revenue delivery.
Open questions
- ?Does the 53.88% trailing profit margin reflect a durable structural characteristic of DLF's project mix, or is it influenced by the timing and accounting of high-margin luxury segment deliveries that may not recur at the same scale?
- ?How has DLF's revenue recognition profile changed over the 5-year period in which revenue contracted 42%, and does the ₹20,143 Cr new bookings figure translate into revenue over what time horizon?
- ?Given that ROE has not cleared 15% in any tracked year and the quality score ranks last among peers, what has driven the divergence from peers like OBEROIRLTY (ROE 14.91%, quality 65) and LODHA (ROE 15.71%, quality 49)?
- ?The forward PE of 21.67 versus trailing PE of 32.51 implies substantial earnings growth expectations — what are the key project delivery milestones or segment mix shifts that would need to materialise for those expectations to be met?
Peer comparison: Realty
Ranks 5 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| DLF | DLF Ltd.You're viewing | 32.5 | +10.0% | 29 |
| Industry avg | across 5 peers | 35.3 | +11.9% | 48 |
| OBEROIRLTY | Oberoi Realty Ltd. | 23.9 | +14.9% | 65 |
| PHOENIXLTD | Phoenix Mills Ltd. | 49.8 | +11.1% | 55 |
| LODHA | Lodha Developers Ltd. | 26.1 | +15.7% | 49 |
| GODREJPROP | Godrej Properties Ltd. | 27.9 | +10.0% | 44 |
| PRESTIGE | Prestige Estates Projects Ltd. | 48.9 | +8.0% | 25 |
Technical state
Current price
₹580.05
SMA 50
₹574.17
SMA 200
₹670.44
RSI (14)
46.8 (neutral)
From 52w high
-34.1%
1Y return
-24.3%
3M return
-5.0%
50-DMA
Above
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highPrice is 34.11% below its 52-week high and has fallen 24.31% over 12 months; the stock has traded below its 200-DMA (₹670.44) for an extended period while currently at ₹580.05, placing it 13.5% under that long-term average.
- medium5-year revenue growth of -42% and 5-year earnings growth of -1.1% indicate material top-line contraction over the medium term, while the trailing profit margin of 53.88% appears elevated — raising the question of whether margin is sustained by accounting recognition patterns or project mix shifts rather than volume growth.
- mediumROE of 10.03% has not cleared 15% in any tracked year (roeYearsAbove15 = 0); DLF quality score of 29 ranks last (6th of 6) among Realty peers — OBEROIRLTY scores 65, PHOENIXLTD 55, LODHA 49, GODREJPROP 44, PRESTIGE 25.
- mediumMost recent earnings release showed revenue missed estimates by 9.8% per analyst coverage; Q4 revenue slipped 42% YoY per CNBC TV18 reporting, consistent with the 5-year revenue trend.
Cross-section contradictions
- FY26 net profit rose to ₹4,414.68 Cr with a 53.88% trailing profit margin, yet the stock is down 24.31% over 12 months and 34.11% from its 52-week high — suggesting the market is discounting execution or forward-booking risk rather than trailing reported profitability.
- Management announced ₹21,300 Cr in new housing project investment with new bookings of ₹20,143 Cr (FY26), but 5-year revenue is down 42% — a wide gap between recent booking momentum and the historical revenue trajectory.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 24 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 1 Jun 2026 · rotates through NIFTY 500 every ~5 days