DLF Financial Statements

Name: DLF Financials — historical data
Creator: StockeZee

For Mar 2026, DLF reported revenue of ₹8,194 crore and net profit of ₹4,415 crore. Return on equity stands at 9.62%. Profit & loss, balance sheet and cash flow across 7 reported years are below.

Updated 31 Jul 2026Source: NSE & BSE company filingsNifty 100 constituent

Latest year revenue: ₹8,194 Cr
EBITDA: ₹1,448 Cr
Operating margin: 17.68%
Profit after tax: ₹4,415 Cr
Net margin: 53.88%
EPS: ₹17.83
Latest year: Mar 2026
Years reported: 7

DLF profit & loss

Reported annual performance for DLF, oldest to newest. Figures in ₹ crore unless a row states otherwise.

DLF annual profit and loss statement. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue from Operations	6,707	5,414	5,717	5,695	6,427	7,994	8,194
Sales Growth YoY %	—	—	5.6%	-0.39%	12.86%	24.38%	2.51%
Other Income	957	531	420	317	531	1,002	1,622
Total Income	7,664	5,945	6,138	6,012	6,958	8,996	9,816
Cost of Goods Sold (COGS)	3,115	2,849	2,745	2,434	2,794	4,132	4,849
Cost of Materials Consumed	3,115	2,849	2,745	2,434	2,794	4,132	4,849
Gross Profit	3,591	2,565	2,972	3,261	3,633	3,862	3,345
Gross Margin %	53.55%	47.37%	51.99%	57.26%	56.53%	48.31%	40.83%
Total Operating Expenses	1,214	1,147	1,230	1,535	1,510	1,753	1,897
Employee Benefit Expense	344	314	354	548	546	592	640
Other Expenses	870	833	876	987	964	1,161	1,257
EBITDA	2,377	1,418	1,743	1,726	2,124	2,109	1,448
OPM %	35.45%	26.19%	30.48%	30.31%	33.04%	26.38%	17.68%
Total Non-Operating Expenses	12,250	917	550	541	504	245	544
Depreciation & Amortisation	534	159	149	149	148	151	142
Finance Costs	2,951	853	625	392	356	397	199
Exceptional Items (Before Tax)	8,765	-96	-224	0	0	-302	203
Profit Before Tax (PBT)	8,615	840	1,165	1,502	2,151	2,261	2,932
Tax Expense	4,323	362	321	402	520	-434	310
Current Tax	4,323	106	59	-6	136	677	87
Deferred Tax	0	256	262	407	384	-1,111	223
Effective Tax %	50.18%	43.15%	27.56%	26.72%	24.19%	-19.19%	10.57%
Total Profit for Period	4,477	1,083	1,500	2,034	2,724	4,367	4,415
Less: Non-controlling Interests	13	-11	-1	-2	-4	-1	0
Net Profit (Owner's PAT)	4,464	1,094	1,501	2,036	2,727	4,368	4,415
Net Profit Margin %	66.56%	20.2%	26.25%	35.75%	42.43%	54.64%	53.88%
PAT Growth YoY %	—	—	37.24%	35.64%	33.95%	60.16%	1.08%
Earnings Per Share (EPS)	₹25.02	₹4.42	₹6.06	₹8.22	₹11.02	₹17.64	₹17.83
Diluted Shares Outstanding (Cr.)	178	248	248	248	248	248	248
Profit/Loss from Associates	184	605	657	933	1,093	1,672	1,793
Other Comprehensive Income (Net of Tax)	12	4	13	17	6	-11	-6
Expenses	-952	5,105	4,973	4,510	4,808	6,735	6,884
Material Cost %	46.45%	52.63%	48.01%	42.74%	43.47%	51.69%	59.17%
Employee Cost %	5.12%	5.8%	6.19%	9.62%	8.49%	7.41%	7.81%
Other Cost %	12.98%	15.39%	15.32%	17.33%	14.99%	14.53%	15.34%
Interest Coverage (x)	0.62	1.47	2.55	4.02	5.54	4.93	6.56

DLF revenue and profit trend

Reported annual revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.

DLF balance sheet

Assets, liabilities and shareholders' equity as reported, in Schedule III order. Figures in ₹ crore unless a row states otherwise.

DLF annual balance sheet with assets, liabilities and equity. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Equity	35,364	36,382	37,692	39,432	42,550	45,473
Equity Share Capital	495	495	495	495	495	495
Reserves & Surplus	34,849	35,867	37,192	38,936	42,055	44,978
Equity Method Investments	18,585	18,842	18,628	19,313	20,066	20,481
Total Equity	35,364	36,382	37,692	39,432	42,550	45,473
Non-Current Liabilities	6,661	5,718	5,051	6,690	4,692	3,800
Long-term Borrowings	3,295	2,189	1,271	2,667	1,911	—
Deferred Tax Liabilities	1,863	2,142	2,574	2,790	1,515	2,143
Non-Current Provisions	51	49	50	54	53	108
Other Non-Current Liabilities	105	110	118	135	123	398
Non-Current Financial Liabilities	4,643	3,417	2,309	3,711	3,001	1,151
Current Liabilities	12,577	10,382	10,927	14,137	22,200	25,601
Short-term Borrowings	2,345	1,771	2,063	2,167	2,192	45
Trade Payables	1,234	1,529	1,644	1,788	2,261	1,720
Current Financial Liabilities	5,071	3,688	4,139	4,341	4,855	2,105
Other Current Financial Liabilities	1,491	389	432	386	402	341
Other Current Liabilities	7,452	6,649	6,753	9,721	17,060	23,407
Current Provisions	54	45	36	75	41	79
Liabilities Held for Sale	207	22	258	4	33	—
Current Tax Liabilities	—	—	—	—	244	10
Total Liabilities	19,445	16,122	16,236	20,831	26,925	29,401
Total Non-Current Assets	28,217	28,413	28,157	26,706	27,421	34,154
Property, Plant & Equipment (PPE)	919	832	748	691	630	592
Capital Work-in-Progress	94	81	61	68	77	159
Intangible Assets	146	146	142	219	222	217
Investment Property	2,847	2,940	2,952	2,026	1,706	2,361
Non-Current Investments	443	694	382	444	914	638
Loans – Non-Current	396	230	206	205	190	663
Other Non-Current Assets	2,348	2,149	2,217	1,459	1,508	1,516
Non-Current Financial Assets	1,010	1,141	1,110	789	1,256	6,472
Net Fixed Assets	1,159	1,059	950	978	929	968
Total Current Assets	26,172	23,818	25,243	33,018	41,220	40,669
Inventories	21,087	20,107	19,361	21,154	24,621	24,717
Trade Receivables	581	564	549	538	802	847
Cash & Cash Equivalents	1,045	306	211	1,394	753	2,273
Current Investments	717	243	471	381	355	573
Loans – Current	1,041	688	817	958	677	448
Current Financial Assets	4,649	3,371	5,169	9,536	13,411	11,896
Other Current Assets	437	341	712	1,329	2,339	2,809
Other Current Financial Assets	902	944	1,058	3,275	7,239	2,281
Assets Held for Sale	421	273	528	538	834	51
Current Tax Assets	—	—	—	1,000	849	1,247
Net Working Capital	13,595	13,436	14,315	18,882	19,020	15,068
Additional Asset Fields	1,342	1,356	1,360	1,194	1,003	1,410
Def Tax Assets	1,322	1,337	1,356	1,193	1,003	1,410
Non Controlling Int	20	19	4	1	—	—
Total Assets	54,810	52,503	53,928	60,262	69,475	74,875
Total Borrowings	5,640	3,960	3,334	4,834	4,103	45
Net Debt	4,595	3,654	3,123	3,440	3,350	-2,228
Debt to Equity (x)	0.16	0.11	0.09	0.12	0.1	0
Current Ratio (x)	2.08	2.29	2.31	2.34	1.86	1.59

DLF cash flow statement

Cash generated and used across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.

DLF annual cash flow statement across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Cash from Operating Activities	2,832	2,375	2,539	5,235	6,347
Profit Before Tax	1,165	1,502	2,151	2,261	2,932
Depreciation & Amortisation	149	149	148	151	142
Finance Costs	625	392	356	397	199
Working Capital Changes	754	563	791	3,225	5,479
Tax Paid	220	-86	-257	-122	-666
Net Cash from Investing Activities	267	-463	-1,529	-3,543	721
Purchase of PPE	-148	-64	-116	-96	-129
Sale of Fixed Assets	-1,751	-1,429	-1,903	-4,297	-1,822
Interest Received	112	45	180	603	887
Net Cash from Financing Activities	-3,828	-2,011	176	-2,335	-5,547
Proceeds from Borrowings	6,563	267	1,344	284	0
Repayment of Borrowings	-8,741	-1,141	-457	-1,035	-3,814
Interest Paid	-633	-370	-291	-384	-218
Dividend Paid	-497	-743	-987	-1,234	-1,480
Buyback / Redemption of Shares	0	0	0	0	0
Lease Liabilities Paid	-22	-27	0	-30	-30
Net Change in Cash	-729	-99	1,186	-642	1,522
Effect of Foreign Exchange Changes	0	0	0	0	0
Free Cash Flow	2,683	2,312	2,423	5,139	6,218
CFO / PBT (x)	2.43	1.58	1.18	2.32	2.16

DLF key ratios

Valuation, profitability, return, leverage and per-share measures computed from reported statements — not from adjusted or normalised earnings.

DLF trades at a P/E of 36.81× against a sector median of 38.69× — a 5% discount. Sector comparisons can mislead for conglomerates with mixed business lines.

DLF valuation, profitability, return and leverage ratios
Ratio	Category	Value
P/E (TTM)	Valuation	36.81
Forward P/E	Valuation	23.44
P/B	Valuation	3.57
PEG (TTM)	Valuation	0.14
EV / EBITDA (TTM)	Valuation	46.8
P/S (TTM)	Valuation	19.78
Operating margin	Profitability	17.7%
Net margin (TTM)	Profitability	46.67%
Return on equity	Return ratios	9.62%
Return on capital employed	Return ratios	6.34%
Return on assets	Return ratios	1.13%
Debt to equity	Leverage & liquidity	0.01
Beta	Leverage & liquidity	1.68
EPS (TTM)	Per share	₹17.83
Book value	Per share	₹183.71
Revenue / share (TTM)	Per share	₹39.1
Cash flow / share	Per share	₹25.64
Dividend yield	Shareholder returns	1.19%
Dividend payout (TTM)	Shareholder returns	33.67%

How this is calculated

Statements are as filed with the exchanges. Consolidated figures are shown where reported. Figures are in rupees crore unless the table states otherwise. Ratios are computed from the same reported statements, not from adjusted or normalised earnings.

Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.

DLF: frequently asked questions

What is DLF's annual revenue?

DLF reported revenue of ₹8,194 crore in Mar 2026, up 2.5% on the previous financial year.

Is DLF profitable?

DLF reported a net profit of ₹4,415 crore in Mar 2026, up 1.1% on the previous financial year.

What is DLF's EPS?

DLF reported earnings per share of ₹17.83 for Mar 2026.

What is DLF's operating margin?

DLF's operating margin for Mar 2026 was 17.68%.

What is DLF's return on equity?

DLF's return on equity stands at 9.62%. ROE measures profit generated per rupee of shareholder equity.

How many years of DLF financials are shown?

7 reported financial years are tabulated on this page, the most recent being Mar 2026.

Are these figures consolidated or standalone?

Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.

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Disclaimer

The data, ratios and commentary about DLF Limited (DLF) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.