DLF Ltd

DLF Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

DLF Ltd

₹ 844 1.63%
23 Dec - close price
dlf.in BSE: 532868 NSE: DLF
About

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]

Key Points

Business Segments
1) Development Business: The company is one 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]

Website BSE NSE
  • Market Cap ₹ 2,08,978 Cr.
  • Current Price ₹ 844
  • High / Low ₹ 968 / 687
  • Stock P/E 190
  • Book Value ₹ 113
  • Dividend Yield 0.59 %
  • ROCE 5.46 %
  • ROE 4.16 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 65.8%

Cons

  • Stock is trading at 7.46 times its book value
  • The company has delivered a poor sales growth of -0.32% over past five years.
  • Company has a low return on equity of 6.00% over last 3 years.
  • Earnings include an other income of Rs.1,057 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Realty Industry: Construction

Part of BSE Allcap BSE Dollex 200 Nifty Next 50 BSE LargeCap Nifty 200

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
976 1,131 1,069 969 824 925 1,260 841 695 797 909 405 904
548 598 626 586 465 468 519 574 484 496 640 496 759
Operating Profit 428 533 443 383 359 458 741 267 210 301 269 -90 145
OPM % 44% 47% 41% 40% 44% 49% 59% 32% 30% 38% 30% -22% 16%
380 -161 65 38 535 49 573 59 101 320 355 198 184
Interest 124 102 91 76 76 97 72 74 70 66 76 85 82
Depreciation 19 19 19 19 19 20 18 18 17 17 17 18 18
Profit before tax 665 250 399 326 799 389 1,224 234 224 538 531 5 229
Tax % 13% 25% 25% 25% 9% 24% 15% 25% 24% 14% 17% 16% 16%
577 187 300 244 727 295 1,045 175 169 464 443 4 192
EPS in Rs 2.33 0.76 1.21 0.99 2.94 1.19 4.22 0.71 0.68 1.87 1.79 0.02 0.78
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,150 2,386 3,017 3,622 3,703 3,056 3,295 2,370 3,929 4,054 3,979 3,243 3,016
881 1,151 1,381 2,112 2,147 1,982 2,067 1,922 2,399 2,234 2,038 2,195 2,391
Operating Profit 1,269 1,235 1,636 1,509 1,556 1,074 1,228 448 1,530 1,819 1,941 1,048 624
OPM % 59% 52% 54% 42% 42% 35% 37% 19% 39% 45% 49% 32% 21%
1,273 1,037 1,041 1,700 659 627 403 3,705 505 368 1,194 835 1,057
Interest 1,710 1,667 1,403 1,385 1,236 1,023 740 590 575 436 321 286 308
Depreciation 142 78 56 75 99 132 125 96 83 77 76 70 71
Profit before tax 690 527 1,218 1,750 880 545 766 3,466 1,378 1,675 2,739 1,527 1,302
Tax % 27% 0% 23% 14% 32% 33% 10% 35% 24% 20% 16% 18%
502 527 940 1,497 597 365 688 2,264 1,053 1,335 2,311 1,251 1,103
EPS in Rs 2.95 2.96 5.28 8.39 3.34 2.05 3.12 9.15 4.26 5.39 9.34 5.05 4.46
Dividend Payout % 68% 68% 38% 24% 60% 98% 64% 22% 47% 56% 43% 99%
Compounded Sales Growth
10 Years: 3%
5 Years: 0%
3 Years: -6%
TTM: -19%
Compounded Profit Growth
10 Years: 3%
5 Years: 12%
3 Years: 4%
TTM: -35%
Stock Price CAGR
10 Years: 20%
5 Years: 30%
3 Years: 31%
1 Year: 18%
Return on Equity
10 Years: 5%
5 Years: 6%
3 Years: 6%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 340 356 356 357 357 357 441 495 495 495 495 495 495
Reserves 14,274 16,287 16,873 13,761 14,347 23,078 22,638 26,310 25,894 26,735 28,309 28,570 27,526
15,737 13,900 12,058 9,381 9,083 5,707 4,332 6,123 5,431 3,762 3,116 3,358 3,425
6,625 7,055 6,697 6,086 4,894 3,805 9,743 9,236 7,725 6,324 5,362 5,929 8,275
Total Liabilities 36,976 37,598 35,985 29,585 28,680 32,947 37,155 42,163 39,546 37,316 37,282 38,351 39,721
2,027 1,604 1,605 603 4,159 3,942 1,712 1,663 1,532 1,604 1,591 1,287 1,277
CWIP 2,543 1,805 2,491 28 28 15 19 0 1 0 0 3 0
Investments 6,877 7,461 7,476 7,391 7,335 10,201 9,628 14,758 19,721 19,996 19,896 19,484 19,485
25,530 26,728 24,413 21,563 17,157 18,790 25,797 25,743 18,292 15,715 15,795 17,577 18,959
Total Assets 36,976 37,598 35,985 29,585 28,680 32,947 37,155 42,163 39,546 37,316 37,282 38,351 39,721

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-74 1,082 -36 849 -696 31 655 20 885 1,855 1,593 1,090
2,757 1,418 4,489 3,901 2,103 -3,939 1,192 -4,849 -256 210 31 180
-2,723 -2,355 -4,002 -4,720 -1,536 3,992 803 2,617 -1,345 -2,547 -1,715 -1,029
Net Cash Flow -40 145 451 30 -130 83 2,651 -2,212 -716 -482 -91 240

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 68 31 26 153 59 48 19 22 10 4 5 9
Inventory Days
Days Payable
Cash Conversion Cycle 68 31 26 153 59 48 19 22 10 4 5 9
Working Capital Days 2,092 1,926 1,568 711 742 1,153 770 1,505 651 611 712 937
ROCE % 8% 8% 9% 10% 9% 6% 5% 10% 6% 7% 10% 5%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
74.95% 74.95% 74.95% 74.95% 74.95% 74.95% 74.95% 74.08% 74.08% 74.08% 74.08% 74.08%
16.46% 15.39% 14.93% 14.90% 14.84% 14.66% 15.30% 15.89% 15.75% 16.53% 16.17% 16.66%
3.42% 4.10% 4.56% 4.80% 5.09% 5.23% 4.87% 5.27% 5.47% 4.77% 4.81% 4.66%
5.17% 5.56% 5.56% 5.36% 5.12% 5.16% 4.88% 4.76% 4.72% 4.62% 4.95% 4.62%
No. of Shareholders 3,84,5474,34,8714,42,8814,25,9594,07,4444,22,1524,06,2803,95,8454,04,8324,26,2534,66,9874,39,141

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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