DLF

DLF share price & results

DLF Limited· Realty· Consumer Discretionary

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

One of India's largest realty developers — luxury homes plus a ~50 msf leased office-and-mall portfolio

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Inve AI Signals on DLF
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Guidance Hit Rate
39 targets · 89% hit rate 8 achieved · 30 active →
Segment Shift
2 segments tracked See revenue & margin mix below →
Reverse DCF
Implied Growth Test priced-in growth in DCF tool →
Concall & Tone
Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹755 +1.21% · +₹9

Last close 9 Nov 2026 · NSE · INR · Source: Inve

Performance −0.6% 1Y

₹500₹600₹700Nov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 23 Jan 2026Q4 FY26 — 14 May 2026Q1 FY27 — 7 Aug 2026Q2 FY27 — 16 Oct 2026

1Y: ₹759.45 on 7 Nov 2025 → ₹755. High ₹768.5 (17 Nov 2025), low ₹504.1 (30 Mar 2026).

Previous close
₹746
Market cap
₹1.6L Cr
52-week range
₹504.1 – ₹768.5
One year
−0.66%
Price to earnings (TTM to Sept 2026)
35.78×
Return on equity (TTM to Sept 2026)
10.08%

Reported

Key financial metrics & valuation ratios

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,261 ₹ crore−23.3% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin1.8 %−15.2 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit1,301 ₹ crore+10.3% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity10.08 %−1.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin76.04 %+11.7 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026
(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-29.30 %−21.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Business Mix

Where revenue comes from

2 operating segments · As of 30 Jun 2026

Real Estate 88.7% · ₹1,140.83 Cr
Rental 11.3% · ₹145.66 Cr

Explore full multi-period segment shift & margins →

Guidance

What management said, and what became of it

8 of 9 judged targets kept · 30 open · verdicts reflect calls analysed to Q2 FY27.

DLF Limited management guidance track record on Inve: 39 targets tracked across analysed earnings calls (8 achieved, 1 missed, 30 open).

Delivering on Growth (1/1 achieved), while Operations (1 needs watch) & Products (1 needs watch) are lagging.

TargetOriginal wordingSaidLatest callVerdict
Growth FY25 Presales
INR 17,000 crores+ with upward bias
Call transcript, Q1 FY25 · 26 Jul 2024
Q1 FY25
Q2 FY27:Historical target achieved.
Call transcript, Q2 FY27 · 17 Oct 2026
Achieved
Operations DCCDL Dividend Payout Ratio
75%-80% of PAT for FY26 and FY27
Call transcript, Q3 FY26 · 23 Jan 2026
Q3 FY26
Q2 FY27:Management discussed dividend frequency for DLF Ltd but did not address the specific 75-80% PAT payout ratio for DCCDL.
Call transcript, Q2 FY27 · 17 Oct 2026
Ghosted
Products Dahlias Main Launch Timeline
November-December (Q3 FY26)
Call transcript, Q4 FY25 · 20 May 2025
Q4 FY25
Q2 FY27:The main launch remains delayed. A new timeline for a key milestone, the Experience Centre, has been set for December (Q3 FY27).
Call transcript, Q2 FY27 · 17 Oct 2026
Delayed

Source: Inve Guidance Tracker for DLF Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of DLF Limited's 39 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 36 more targets are in the full ledger.

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Supply chain

Cross-company call evidence

Named counterparties and similar headwinds disclosed on earnings calls.

Counterparties named by DLF Limited

  • DLF Limited → partners with → Contiguous land parcel.

    Q2 FY27 · Announced · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Entered into a collaboration for a fresh 7.48 acres of land, contiguous to the 28 acres, expanding the land bank.

    “And we also entered into a collaboration for a fresh 7.48 acres of land, again, which is contiguous to this 28 acres. So, eventually it will be a 36-acre land parcel, contiguous, in Sector 61 that we'll have. So, some small payment was also made for that.”

    Exact commercial direction is not specified; disclosed as a partnership or collaboration.

    Evidence drawer

    Evidence type: Transcript excerpt

    “And we also entered into a collaboration for a fresh 7.48 acres of land, again, which is contiguous to this 28 acres. So, eventually it will be a 36-acre land parcel, contiguous, in Sector 61 that we'll have. So, some small payment was also made for that.”

    Source company: DLF Limited · Counterparty: Contiguous land parcel · Call date: 2026-10-17 · Period: Q2 FY27 · Review status: Structured call extraction

  • DLF Limited → acquires or invests in → IREO (land parcel).

    Q2 FY27 · Closed / completed · Positive · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Finalized acquisition of 7.06-acre parcel from a previous bond transaction, making it contiguous with existing land.

    “So, in this, Pritesh, if you recall, about two years back, we had done a transaction through acquisition of bonds of 28.5-odd acres of land from IREO. So, the 19.5 acres had been conveyed to us about, about, I think, 18 months back. There was a 7.06-acre parcel which still had some encumbrances, needed to be removed. So, those were done this quarter, and so the complete payment of that was made in this quarter.”

    Disclosure indicates an acquisition or investment without specifying full buyout versus minority stake.

    Evidence drawer

    Evidence type: Transcript excerpt

    “So, in this, Pritesh, if you recall, about two years back, we had done a transaction through acquisition of bonds of 28.5-odd acres of land from IREO. So, the 19.5 acres had been conveyed to us about, about, I think, 18 months back. There was a 7.06-acre parcel which still had some encumbrances, needed to be removed. So, those were done this quarter, and so the complete payment of that was made in this quarter.”

    Source company: DLF Limited · Counterparty: IREO (land parcel) · Call date: 2026-10-17 · Period: Q2 FY27 · Review status: Structured call extraction

  • DLF Limited → divests to → Kolkata IT SEZ (DLF books).

    Q3 FY26 · Announced · Neutral · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Monetization of asset

    “Kolkata SEZ, which is in the books of DLF, we have got the first stage approval from the Board of Approvals. We are awaiting the state approvals on one or two issues, which we are working along with the buyers. And we are quite hopeful that we will be able to close it in the current quarter.”
    Evidence drawer

    Evidence type: Transcript excerpt

    “Kolkata SEZ, which is in the books of DLF, we have got the first stage approval from the Board of Approvals. We are awaiting the state approvals on one or two issues, which we are working along with the buyers. And we are quite hopeful that we will be able to close it in the current quarter.”

    Source company: DLF Limited · Counterparty: Kolkata IT SEZ (DLF books) · Call date: 2026-01-23 · Period: Q3 FY26 · Review status: Structured call extraction

  • DLF Limited → divests to → Kolkata IT SEZ (DCCDL books).

    Q3 FY26 · Closed / completed · Neutral · Counterparty named; listed-company identity not verified.

    1. Proposed
    2. Announced
    3. Active
    4. Completed / ended

    Monetization of asset

    “Kolkata SEZ, which is in the books of DCCDL was sold and the deal closed in December of '25.”
    Evidence drawer

    Evidence type: Transcript excerpt

    “Kolkata SEZ, which is in the books of DCCDL was sold and the deal closed in December of '25.”

    Source company: DLF Limited · Counterparty: Kolkata IT SEZ (DCCDL books) · Call date: 2026-01-23 · Period: Q3 FY26 · Review status: Structured call extraction

Mentions over time

First observed: Q4 2025 · Latest observed: Q3 2026

Recorded disclosures by calendar reporting quarter
PeriodOther callsOwn calls
Q3 202602
Q4 202502

Counts reflect the calls covered here. No mention in a period does not establish that a relationship ended.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

DLF ₹755 +1.21%
Guidance Verdict (39 tracked) 8 kept · 30 open· 1 missed
AI Call Brief · Q2 FY27

DLF Limited Q2 FY27

Overview

Symbol
NSE:DLF
Sector
Realty
Industry
Consumer Discretionary
Exchange
NSE
Currency
INR

What DLF Limited does

Based on the company's own presentations, annual report and earnings calls.

DLF develops and sells residential real estate — high-rise condominiums, low-rise independent floors, plotted developments and shop-cum-offices — and earns recurring income by leasing office space and retail malls, largely through its DCCDL platform. It also operates a hospitality vertical (hotels, clubs, F&B) and a services/asset-management business. With roughly eight decades of experience and 178 projects developed, its operations are concentrated in Gurugram, with a growing footprint in Chennai, Mumbai, Goa and other cities.

Segments

  • Development Business
  • Annuity (Rental) Business
  • Hospitality
  • Services / Asset Management
Experience in real estate
~8 decades
Real estate projects developed
178
Operational rental (annuity) portfolio
~50 million sq ft (offices ~44.6 msf + retail ~4.93 msf)
Area under execution
~22 million sq ft
Development potential (land bank)
~143 million sq ft
Rental platform position
One of India's largest organically grown annuity platforms
Founded 1963Headquarters Gurugram, Haryana, India Company website

How the price took the results

Moved an average of ±1.5% across the last 4 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q2 FY2717 Oct 261,261 1,301−23.3%₹675 → ₹672.85−0.3%
Q1 FY277 Aug 261,280 794−52.9%₹642 → ₹6420.0%
Q4 FY2614 May 261,814 1,269−42.0%₹574.15 → ₹583.25+1.6%
Q3 FY2623 Jan 262,020 1,203+32.1%₹613.3 → ₹588.45−4.1%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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Other Realty companies

PEER COMPARISON
Median ₹64,539 Cr Mkt Cap
₹0 Cr₹1.0L Cr₹2.0L Cr₹3.0L CrDLF Limited (DLF): ₹1.6L Cr₹1.6L CrDLFLodha Developers Limited (LODHA): ₹1.2L Cr₹1.2L CrLODHAThe Phoenix Mills Limited (PHOENIXLTD): ₹74,382 Cr₹74,382 CrPHOENIXLTDPrestige Estates Projects Limited (PRESTIGE): ₹68,809 Cr₹68,809 CrPRESTIGEOberoi Realty Limited (OBEROIRLTY): ₹64,539 Cr₹64,539 CrOBEROIRLTYKnowledge Realty Trust (KRT): ₹49,648 Cr₹49,648 CrKRTGodrej Properties Limited (GODREJPROP): ₹47,762 Cr₹47,762 CrGODREJPROPEmbassy Off.REIT (EMBASSY): ₹39,805 Cr₹39,805 CrEMBASSYBAGMANE (BAGMANE): ₹36,332 Cr₹36,332 CrBAGMANE

All Realty companies → · Realty earnings growth →

Quick Answers

Frequently asked questions on DLF Limited

Compiled directly from DLF's filed financial statements, earnings call transcripts, and ownership disclosures.

How did DLF Limited (DLF) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, DLF Limited reported revenue of ₹1.3k Cr, net profit of ₹1.3k Cr, an operating margin of 1.8%. Diluted earnings per share stood at ₹5.26.

How is DLF Limited (DLF) valued today, and what growth does the stock price imply?

DLF Limited (DLF) trades at ₹755, with a market capitalization of ₹164.5k Cr.

Who owns DLF Limited (DLF) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 74.1%, FIIs hold 11.4%, DIIs hold 9.1%, Public shareholders hold 5.4%.

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