Results: DLF Limited Exceeded Expectations And The Consensus Has Updated Its Estimates

As you might know, DLF Limited (NSE:DLF) just kicked off its latest full-year results with some very strong numbers. The company beat forecasts, with revenue of ₹80b, some 9.8% above estimates, and statutory earnings per share (EPS) coming in at ₹17.64, 21% ahead of expectations. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

Our free stock report includes 1 warning sign investors should be aware of before investing in DLF. Read for free now.

Taking into account the latest results, the consensus forecast from DLF's 23 analysts is for revenues of ₹92.5b in 2026. This reflects a meaningful 16% improvement in revenue compared to the last 12 months. Statutory per-share earnings are expected to be ₹17.36, roughly flat on the last 12 months. Before this earnings report, the analysts had been forecasting revenues of ₹92.1b and earnings per share (EPS) of ₹17.61 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

View our latest analysis for DLF

It will come as no surprise then, to learn that the consensus price target is largely unchanged at ₹926. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values DLF at ₹1,060 per share, while the most bearish prices it at ₹730. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await DLF shareholders.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It's clear from the latest estimates that DLF's rate of growth is expected to accelerate meaningfully, with the forecast 16% annualised revenue growth to the end of 2026 noticeably faster than its historical growth of 5.1% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 20% per year. It seems obvious that, while the future growth outlook is brighter than the recent past, DLF is expected to grow slower than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that DLF's revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for DLF going out to 2028, and you can see them free on our platform here..

It is also worth noting that we have found 1 warning sign for DLF that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.