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DLF Ltd with its subsidiaries, associates and JVs is engaged in real estate development, from the identification and acquisition of land to planning, execution, construction and marketing of projects. It is also engaged in business of leasing, generation of power, provision of maintenance services, hospitality and recreational services which are related to the overall development of real estate business.[1]
Business Segments1) Development Business:The company isone of the largest domestic real estate developers, primarily engaged in the development and sale of residential properties like high-rise condominiums, low-rise independent floors, plotted development, Shop-cum-Offices, etc. As of Q2 FY25, it has developed over 180 real estate projects covering an area of over 351 million square feet (MSF). It is credited for developing many well-known urban colonies in Delhi, including South Extension, Greater Kailash, Kailash Colony, and Hauz Khas, and one of Asia’s largest private townships, DLF City, in Gurgaon, Haryana.[1][2][3]The company’s new sales bookings grew by over 103% between FY22 and FY24, from Rs. 7,273 Cr to Rs. 14,778 Cr in FY24. New sales bookings and collections for Q2 FY25 stood at Rs 692 Cr and Rs. 2,370 Cr respectively.[4][5]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | DLF | 703.25 | 77.44 | 174137.94 | 0.85 | 1013.45 | 325.24 | 646.53 | -28.45 | 8.34 | 4286.96 | 30.40 | 2248.68 | 818.00 | 6.01 | 4.49 | 0.05 |
| 2. | Lodha Developers | 1110.90 | 33.34 | 110990.74 | 0.38 | 789.80 | 86.50 | 3798.50 | 44.67 | 15.62 | 15597.50 | 29.61 | 3329.50 | 788.70 | 5.21 | 5.70 | 0.45 |
| 3. | Prestige Estates | 1619.50 | 91.08 | 69720.91 | 0.11 | 457.40 | 123.88 | 2431.70 | 5.52 | 7.66 | 7921.90 | 36.60 | 765.50 | 430.30 | 4.41 | 1.15 | 0.92 |
| 4. | Phoenix Mills | 1942.60 | 64.93 | 69468.83 | 0.13 | 384.09 | 39.38 | 1115.43 | 21.51 | 10.75 | 4059.89 | 57.73 | 1069.86 | 303.99 | 6.44 | 6.11 | 0.46 |
| 5. | Godrej Propert. | 2138.20 | 41.59 | 64455.44 | 0.00 | 402.99 | 20.84 | 740.38 | -32.28 | 6.57 | 4265.55 | -18.34 | 1549.83 | 405.08 | 3.52 | 2.67 | 0.89 |
| 6. | Oberoi Realty | 1708.70 | 27.81 | 62098.13 | 0.47 | 760.26 | 28.98 | 1779.04 | 34.79 | 17.73 | 5327.81 | 56.59 | 2233.06 | 760.26 | 3.71 | 10.23 | 0.18 |
| 7. | Brigade Enterpr. | 886.90 | 27.27 | 21688.21 | 0.28 | 170.28 | 36.58 | 1383.37 | 29.03 | 13.34 | 5588.84 | 26.50 | 795.44 | 162.50 | 3.35 | 3.39 | 0.83 |
| – | Median: 96 Co. | 166.41 | 33.7 | 858.24 | 0.0 | 4.2 | 9.3 | 44.19 | 9.84 | 7.71 | 164.13 | 16.9 | 11.18 | 3.3 | 2.99 | 2.39 | 0.44 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 925 | 797 | 937 | 841 | 405 | 468 | 1,260 | 909 | 2,236 | 824 | 695 | 904 | 647 |
Expenses | 468 | 496 | 722 | 574 | 496 | 482 | 519 | 640 | 1,237 | 465 | 484 | 759 | 542 |
Operating Profit | 458 | 301 | 215 | 267 | -90 | -14 | 741 | 269 | 999 | 359 | 210 | 145 | 104 |
Other Income | 49 | 320 | 15 | 59 | 198 | 142 | 573 | 355 | 821 | 535 | 101 | 184 | 1,170 |
Profit before tax | 389 | 538 | 130 | 234 | 5 | 49 | 1,224 | 531 | 1,712 | 799 | 224 | 229 | 1,219 |
Tax % | 24% | 14% | 228% | 25% | 16% | 19% | 15% | 17% | 9% | 9% | 24% | 16% | 17% |
Net Profit | 295 | 464 | -166 | 175 | 4 | 40 | 1,045 | 443 | 1,550 | 727 | 169 | 192 | 1,013 |
EPS in Rs | 1.19 | 1.87 | -0.67 | 0.71 | 0.02 | 0.16 | 4.22 | 1.79 | 6.26 | 2.94 | 0.68 | 0.78 | 4.09 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,386 | 3,017 | 3,622 | 3,703 | 3,056 | 3,295 | 2,370 | 3,929 | 4,054 | 3,979 | 3,243 | 4,482 | 4,287 |
Expenses | 1,151 | 1,381 | 2,112 | 2,147 | 1,982 | 2,067 | 1,922 | 2,399 | 2,234 | 2,038 | 2,195 | 3,214 | 2,984 |
Operating Profit | 1,235 | 1,636 | 1,509 | 1,556 | 1,074 | 1,228 | 448 | 1,530 | 1,819 | 1,941 | 1,048 | 1,268 | 1,303 |
Other Income | 1,037 | 1,041 | 1,700 | 659 | 627 | 403 | 3,705 | 505 | 368 | 1,194 | 835 | 1,218 | 2,148 |
Interest | 1,667 | 1,403 | 1,385 | 1,236 | 1,023 | 740 | 590 | 575 | 436 | 321 | 286 | 337 | 276 |
Depreciation | 78 | 56 | 75 | 99 | 132 | 125 | 96 | 83 | 77 | 76 | 70 | 73 | 64 |
Profit before tax | 527 | 1,218 | 1,750 | 880 | 545 | 766 | 3,466 | 1,378 | 1,675 | 2,739 | 1,527 | 2,075 | 3,111 |
Net Profit | 527 | 940 | 1,497 | 597 | 365 | 688 | 2,264 | 1,053 | 1,335 | 2,311 | 1,251 | 1,580 | 2,438 |
EPS in Rs | 2.96 | 5.28 | 8.39 | 3.34 | 2.05 | 3.12 | 9.15 | 4.26 | 5.39 | 9.34 | 5.05 | 6.38 | 9.84 |
Dividend Payout % | 68% | 38% | 24% | 60% | 98% | 64% | 22% | 47% | 56% | 43% | 99% | 94% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 356 | 356 | 357 | 357 | 357 | 441 | 495 | 495 | 495 | 495 | 495 | 495 | 495 |
Reserves | 16,287 | 16,873 | 13,761 | 14,347 | 23,078 | 22,638 | 26,310 | 25,894 | 26,735 | 28,309 | 28,570 | 28,912 | 28,475 |
Borrowings | 13,900 | 12,058 | 9,381 | 9,083 | 5,707 | 4,332 | 6,123 | 5,431 | 3,762 | 3,116 | 3,358 | 3,252 | 1,522 |
Other Liabilities | 7,055 | 6,697 | 6,086 | 4,894 | 3,805 | 9,743 | 9,236 | 7,725 | 6,324 | 5,362 | 5,929 | 11,059 | 13,626 |
Total Liabilities | 37,598 | 35,985 | 29,585 | 28,680 | 32,947 | 37,155 | 42,163 | 39,546 | 37,316 | 37,282 | 38,351 | 43,718 | 44,118 |
Fixed Assets | 1,604 | 1,605 | 603 | 4,159 | 3,942 | 1,712 | 1,663 | 1,532 | 1,604 | 1,591 | 1,287 | 983 | 988 |
Gross Block | 1,821 | 1,871 | 635 | 4,315 | 4,228 | 1,839 | 2,075 | 1,967 | 2,090 | 2,127 | 1,874 | 1,528 | – |
Accumulated Depreciation | 217 | 266 | 32 | 156 | 286 | 127 | 412 | 435 | 487 | 536 | 586 | 546 | – |
CWIP | 1,805 | 2,491 | 28 | 28 | 15 | 19 | 0 | 1 | 0 | 0 | 3 | 9 | 0 |
Investments | 7,461 | 7,476 | 7,391 | 7,335 | 10,201 | 9,628 | 14,758 | 19,721 | 19,996 | 19,896 | 19,484 | 19,548 | 19,544 |
Other Assets | 26,728 | 24,413 | 21,563 | 17,157 | 18,790 | 25,797 | 25,743 | 18,292 | 15,715 | 15,795 | 17,577 | 23,178 | 23,586 |
Total Assets | 37,598 | 35,985 | 29,585 | 28,680 | 32,947 | 37,155 | 42,163 | 39,546 | 37,316 | 37,282 | 38,351 | 43,718 | 44,118 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 1,082 | -36 | 849 | -696 | 31 | 655 | 20 | 885 | 1,855 | 1,593 | 1,090 | 4,694 |
Cash from Investing Activity | 1,418 | 4,489 | 3,901 | 2,103 | -3,939 | 1,192 | -4,849 | -256 | 210 | 31 | 180 | -3,086 |
Cash from Financing Activity | -2,355 | -4,002 | -4,720 | -1,536 | 3,992 | 803 | 2,617 | -1,345 | -2,547 | -1,715 | -1,029 | -1,702 |
Net Cash Flow | 145 | 451 | 30 | -130 | 83 | 2,651 | -2,212 | -716 | -482 | -91 | 240 | -94 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 31 | 26 | 153 | 59 | 48 | 19 | 22 | 10 | 4 | 5 | 9 | 17 |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 31 | 26 | 153 | 59 | 48 | 19 | 22 | 10 | 4 | 5 | 9 | 17 |
Working Capital Days | 1,542 | 1,265 | 507 | 446 | 1,038 | 617 | 1,160 | 348 | 453 | 526 | 769 | 477 |
ROCE % | 8% | 9% | 10% | 9% | 6% | 5% | 10% | 6% | 7% | 10% | 5% | 8% |
Direct from BSE filings, auto-summarised
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