DLF Limited

NSEI:DLF Stock Report

Market Cap: ₹1.7t

DLF Valuation

Is DLF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DLF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
₹256.28
Fair Value
167.8% overvalued intrinsic discount
22
Number of Analysts

Below Fair Value: DLF (₹686.25) is trading above our estimate of fair value (₹256.28)

Significantly Below Fair Value: DLF is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DLF?

Key metric: As DLF is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DLF. This is calculated by dividing DLF's market cap by their current earnings.
What is DLF's PE Ratio?
PE Ratio42.4x
Earnings₹40.06b
Market Cap₹1.70t

Price to Earnings Ratio vs Peers

How does DLF's PE Ratio compare to its peers?

The above table shows the PE ratio for DLF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.5x
503100 Phoenix Mills
54.5x26.5%₹568.0b
532929 Brigade Enterprises
38.2x23.9%₹246.3b
512179 Sunteck Realty
29x42.2%₹58.5b
LODHA Macrotech Developers
48.3x20.5%₹1.2t
DLF DLF
42.4x14.1%₹1.7t

Price-To-Earnings vs Peers: DLF is good value based on its Price-To-Earnings Ratio (42.4x) compared to the peer average (42.5x).

Price to Earnings Ratio vs Industry

How does DLF's PE Ratio compare vs other companies in the IN Real Estate Industry?

13 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TREL Transindia Real Estate
4.1xn/aUS$86.68m
513337 Gujarat Toolroom
2.9xn/aUS$35.84m
511726 Vipul
0.9xn/aUS$21.63m
FMNL Future Market Networks
1.2xn/aUS$12.69m
DLF 42.4xIndustry Avg. 33.0xNo. of Companies15PE020406080100+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DLF is expensive based on its Price-To-Earnings Ratio (42.4x) compared to the Indian Real Estate industry average (33x).

Price to Earnings Ratio vs Fair Ratio

What is DLF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DLF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio42.4x
Fair PE Ratio45.2x

Price-To-Earnings vs Fair Ratio: DLF is good value based on its Price-To-Earnings Ratio (42.4x) compared to the estimated Fair Price-To-Earnings Ratio (45.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DLF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹686.25
₹957.45
+39.5%
7.9%₹1,060.00₹770.00n/a22
Feb ’26₹760.65
₹963.20
+26.6%
7.9%₹1,060.00₹770.00n/a20
Jan ’26₹824.50
₹959.80
+16.4%
7.6%₹1,081.00₹750.00n/a20
Dec ’25₹822.95
₹951.95
+15.7%
8.0%₹1,081.00₹750.00n/a19
Nov ’25₹823.75
₹947.21
+15.0%
8.8%₹1,081.00₹750.00n/a19
Oct ’25₹913.75
₹932.00
+2.0%
11.4%₹1,107.00₹670.00n/a19
Sep ’25₹845.10
₹930.95
+10.2%
11.4%₹1,107.00₹670.00n/a19
Aug ’25₹873.90
₹918.06
+5.1%
12.5%₹1,107.00₹670.00n/a18
Jul ’25₹825.40
₹891.22
+8.0%
13.5%₹1,110.00₹670.00n/a18
Jun ’25₹815.65
₹885.50
+8.6%
12.9%₹1,110.00₹670.00n/a18
May ’25₹891.85
₹859.83
-3.6%
14.9%₹1,110.00₹596.00n/a18
Apr ’25₹948.25
₹826.50
-12.8%
11.7%₹1,021.00₹596.00n/a18
Mar ’25₹909.90
₹813.17
-10.6%
11.9%₹1,021.00₹596.00n/a18
Feb ’25₹800.05
₹808.44
+1.0%
13.5%₹1,021.00₹511.00₹760.6518
Jan ’25₹723.60
₹623.88
-13.8%
12.7%₹770.00₹442.00₹824.5017
Dec ’24₹629.25
₹601.47
-4.4%
10.7%₹690.00₹442.00₹822.9517
Nov ’24₹574.85
₹590.18
+2.7%
12.9%₹690.00₹370.00₹823.7517
Oct ’24₹530.90
₹533.24
+0.4%
11.3%₹655.00₹370.00₹913.7517
Sep ’24₹503.25
₹525.06
+4.3%
10.2%₹600.00₹370.00₹845.1018
Aug ’24₹499.70
₹525.06
+5.1%
10.2%₹600.00₹370.00₹873.9018
Jul ’24₹490.55
₹492.35
+0.4%
11.8%₹550.00₹320.00₹825.4017
Jun ’24₹477.20
₹487.06
+2.1%
11.5%₹550.00₹320.00₹815.6517
May ’24₹426.20
₹440.76
+3.4%
12.0%₹530.00₹268.00₹891.8517
Apr ’24₹356.70
₹440.18
+23.4%
12.0%₹530.00₹268.00₹948.2517
Mar ’24₹355.65
₹436.28
+22.7%
12.0%₹530.00₹268.00₹909.9018
Feb ’24₹349.00
₹435.83
+24.9%
12.0%₹530.00₹268.00₹800.0518
Analyst Price Target
Consensus Narrative from 22 Analysts
₹957.45
Fair Value
28.3% undervalued intrinsic discount
22
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/22 22:17
End of Day Share Price 2025/02/21 00:00
Earnings2024/12/31
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

DLF Limited is covered by 55 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Karan KhannaAmbit Capital
Param DesaiAngel Broking Private Limited
null nullAntique Stockbroking Ltd.