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DLF Limited DLF.NS

IN · National Stock Exchange of India · XNSE · stock · Real Estate · website

DLF Limited statistics & valuation

Market cap₹1.65T
P / E37.3×
P / S21.0×
P / B3.6×
P / FCF26.5×
Net margin56.3%
FCF margin79.3%
Net debt₹67.8M
Enterprise value USD$17.3B
Earnings yield EBIT/EV0.8%
Return on capital2.6%
Graham number -59.2%₹271.48

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (₹271.48); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
35.80% 43.60% 55.00% 56.30% 2023202420252026
Gross margin (%)
57.20% 55.30% 48.00% 38.10% 2023202420252026
Operating margin (%)
29.10% 29.30% 26.60% 16.40% 2023202420252026
Return on equity (%)
5.40% 6.90% 10.30% 9.70% 2023202420252026
Shares outstanding
2.48B 2.48B 2.48B 2.48B 2023202420252026
Net debt (₹)
₹31.68B ₹40.66B ₹37.89B ₹67.8M 2023202420252026
Share buybacks (₹)
2023202420252026
Return on assets (%)
3.80% 4.50% 6.30% 5.90% 2023202420252026
Free cash flow margin (%)
40.70% 38.80% 64.70% 79.30% 2023202420252026
Debt / equity (×)
0.09× 0.12× 0.10× 0.01× 2023202420252026
EPS (₹)
₹8.22 ₹11.02 ₹17.64 ₹17.83 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

DLF Limited trades at about 37.3× earnings — below its 10-year norm (10-year range 32.9×–80.9×, median 51.8×).

32.9× 80.9×

Shaded band = 10-year range (32.9×–80.9×); dot = today's 37.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin38.1%48.0%55.3%57.2%
Operating margin16.4%26.6%29.3%29.1%
Net margin56.3%55.0%43.6%35.8%
FCF margin79.3%64.7%38.8%40.7%
Return on assets5.9%6.3%4.5%3.8%
Return on equity9.7%10.3%6.9%5.4%
Debt / equity0.00×0.04×0.06×0.03×
Current ratio1.541.852.302.30

Computed from company filings · IN · as of 2026-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.