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DLF - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.5

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 3.5

Stock Code DLF Market Cap 1,39,173 Cr. Current Price 562 ₹ High / Low 888 ₹
Stock P/E 50.9 Book Value 117 ₹ Dividend Yield 1.07 % ROCE 8.34 %
ROE 6.30 % Face Value 2.00 ₹ DMA 50 620 ₹ DMA 200 698 ₹
Chg in FII Hold -0.64 % Chg in DII Hold 0.57 % PAT Qtr 326 Cr. PAT Prev Qtr 818 Cr.
RSI 40.0 MACD -23.9 Volume 50,14,538 Avg Vol 1Wk 52,11,215
Low price 525 ₹ High price 888 ₹ PEG Ratio 7.60 Debt to equity 0.05
52w Index 10.4 % Qtr Profit Var 304 % EPS 11.7 ₹ Industry PE 25.5

📊 Core Financials

  • Revenue Growth: PAT dropped sharply (₹326 Cr vs ₹818 Cr), showing volatility
  • Profit Margins: EPS ₹11.7, modest profitability
  • Debt Ratio: Very low (Debt-to-Equity 0.05)
  • Cash Flows: Supported by stable real estate operations
  • Return Metrics: ROCE 8.34%, ROE 6.30% — weak efficiency

💹 Valuation Indicators

  • P/E Ratio: 50.9 (well above industry PE of 25.5, highly overvalued)
  • P/B Ratio: ~4.8 (premium valuation)
  • PEG Ratio: 7.60 (very high, growth priced expensively)
  • Intrinsic Value: Current price ₹562 is near support (₹525), offering cautious entry

🏢 Business Model & Competitive Advantage

  • India’s largest real estate developer with strong brand recognition
  • Focus on luxury and premium residential projects
  • Low debt enhances financial resilience
  • Dividend yield of 1.07% adds shareholder value

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: ₹540–₹580 range (near support levels)
  • Long-Term Holding: Suitable for investors seeking exposure to real estate growth
  • Risk: Weak ROE/ROCE and high valuation may limit upside


✅ Positive

  • Low debt ensures strong financial stability
  • Strong brand presence in real estate sector
  • Dividend yield provides steady income

⚠️ Limitation

  • P/E ratio significantly higher than industry average
  • Weak ROE and ROCE compared to peers
  • High PEG ratio indicates expensive growth

📰 Company Negative News

  • PAT dropped from ₹818 Cr to ₹326 Cr, showing earnings pressure
  • Decline in FII holdings (-0.64%) indicates reduced foreign investor confidence

🌟 Company Positive News

  • DII holdings increased (+0.57%), showing domestic investor support
  • Debt-to-equity ratio at 0.05, indicating strong balance sheet

🏦 Industry

  • Real estate sector with cyclical demand
  • Industry PE at 25.5, DLF trades far above this, showing premium valuation
  • Sector growth supported by urbanization and housing demand

🔎 Conclusion

  • DLF offers stability with low debt and strong brand presence
  • Valuation is expensive compared to industry peers
  • Entry near ₹540–₹580 is favorable for long-term conservative investors
  • Best suited for portfolios seeking real estate exposure, but growth outlook remains limited

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