NSE: DLF | BSE: 532868

Mid-range Performer

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722.30 9.30 (1.30%)

3.6M NSE+BSE Volume

NSE 01 Oct, 2025 3:31 PM (IST)

178,791.8

Market Cap

Market Leader

1.8

Beta 1Year

Very High Volatility

DLF Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for DLF, BSE:532868 DLF Ltd.

DLF Ltd.

12 Dec 2017

722.30

1.30%

Event Update:DLF

Buy: DLF Ltd.

Recommendation Target

Axis Direct

DLF's board has approved fund infusion of ~Rs 150 bn in the company, higher than our expectation of Rs 100-120 bn via preferential issue (Rs 112.5 bn) to promoters and issue of ~Rs 37.5 bn (estimated based on CMP) to public investors.

DLF Ltd. has an average target of 963.25 from 4 brokers.

DLF Ltd.

13 Nov 2017

722.30

1.30%

DLF Ltd Q2FY18 results comment

Results Update: DLF Ltd.

HDFC Securities

DLF Ltd Q2FY18 results comment Revenue decreased by 22.46% to Rs. 1587.71 Cr in Q2FY18 when compared to the previous quarter. Also, it decreased by 23.32% when compared with Q2FY17.

DLF Ltd. has an average target of 963.25 from 4 brokers.

DLF Ltd.

13 Nov 2017

722.30

1.30%

DLF (2QFY18): Residential recovery awaited. Maintain BUY

Buy: DLF Ltd.

Recommendation Target

HDFC Securities

As the impact of demonet has receded, we reduce the land bank discount of 10-15%. We maintain BUY with increased NAV- based TP of Rs 236/sh. DLFs 2QFY18 PAT came in 81% below estimates, on account of weak residential revenue recognition. No green shoots yet on B/S recovery, as (1) DLF has reopened sales only from 1-Nov-2017, post RERA compliance, (2) This impacted pre-sales over last 5 months (sales were closed since 1-May-2017), (3) Net cancellation of Rs 1.3bn, (3) Weak collections and a step-up in construction of projects nearing completion have resulted in Rs 17bn increase in net debt vs FY17. With projects re-opening, pre-sales will pickup from 3QFY18E. Further, GIC has received CCI approvals for DCCDL deal and fund flow including that from DLF Promoter/QIP is expected in FY18E.

DLF Ltd. is trading below all available SMAs

DLF Ltd.

04 Sep 2017

722.30

1.30%

Event Update - DLF

Hold: DLF Ltd.

Target

Axis Direct

DLF announced the DCCDL transaction with GIC valuing the former at equity value of Rs 302 bn (implied cap rate of ~8%, in line with market valuation). Post the deal, management expects to reduce debt in DevCo to Rs 20 bn (from Rs 165 bn)

DLF Ltd. has an average target of 963.25 from 4 brokers.

DLF Ltd.

29 Aug 2017

722.30

1.30%

DLF (Update): Game changes finally. Maintain NEUTRAL

Neutral: DLF Ltd.

Target

HDFC Securities

Near term outlook: Whilst the game changer augurs well for balance sheet and leaves scope for office asset expansion in newer geographies, residential business remains dull. Any meaningful acceleration in nearing completion residential inventory of Rs 145bn will lead to further re-rating. We maintain NEUTRAL. Much awaited Game Changer happens finally, with GIC buying out DLF promoter stake in DCCDL. Post the Promoter and QIP fund infusion of ~Rs 130bn, DLF net D/E will reduce from current 1.05x to 0.31x. The interest cost will reduce to less than half from current annual run-rate of Rs 30bn/yr. Deal values stake sale to GIC at an Enterprise Valuation of Rs 356bn and Equity Valuation of Rs 302bn. Deal valuation is higher than our estimate of Rs 263bn. The implied cap rate post deduction of the FSI value of under development assets is 8.4%.

Number of FII/FPI investors increased from 901 to 923 in Jun 2025 qtr.

DLF Ltd.

17 Aug 2017

722.30

1.30%

DLF Ltd Q1FY18 results comment

Results Update: DLF Ltd.

HDFC Securities

Revenue decreased by 7.98% to Rs. 2047.7 Cr in Q1FY18 when compared to the previous quarter Revenue decreased by 7.98% to Rs. 2047.7 Cr in Q1FY18 when compared to the previous quarter

DLF Ltd. has an average target of 963.25 from 4 brokers.

DLF Ltd.

06 Jun 2017

722.30

1.30%

Result Update:DLF

Hold: DLF Ltd.

Recommendation Target

Axis Direct

DLF booked muted pre-sales of Rs 4 bn in Q4FY17. Management reiterated that demandremains weak after demonetization and,will take 4-6 quarters to revive. With weak collections and plan to spend ~Rs30 bn for completing ongoing projects

DLF Ltd. is trading below all available SMAs

DLF Ltd.

29 May 2017

722.30

1.30%

DLF Ltd Q4FY17 results comment

Results Update: DLF Ltd.

HDFC Securities

Revenue increased by 8.13% to Rs. 2225.18 Cr in Q4FY17 when compared to the previous quarter.

DLF Ltd. has an average target of 963.25 from 4 brokers.

DLF Ltd.

29 May 2017

722.30

1.30%

DLF (4QFY17): Weak show, DCCDL key trigger. Maintain NEUTRAL

Neutral: DLF Ltd.

Recommendation Target

HDFC Securities

DLFs 4QFY17 APAT came in 17% below estimates. The Residential segment continues to reel under cost overruns in legacy projects completion, resulting in EBIDTA losses. The Rental seg is the key driver of profitability. The B/S continues to deteriorate on account of (1) Slowing pre-sales, (2) Cost overruns in legacy proj and (3) Construction step-up in proj nearing completion. This has resulted in Rs 28.9bn increase in net debt YoY.