DLF Limited Valuation
DLF · Realty · Current price ₹675
Is DLF Limited undervalued?
We estimate the fair value of DLF Limited at ₹194 per share, against a market price of ₹645. That puts the share price about -69.8% above our estimate, at medium confidence. This is our view of what the business is worth, not a target price or a forecast of where the share price will go.
How this fair value is calculated
This estimate comes from 1 method: Residual income (legacy engine) (₹194). Each is weighted by how well its inputs held up for this company. The full working, including the assumptions and what data was missing, is set out below.
The range around this estimate
Our estimate for DLF Limited spans ₹160 to ₹272. A margin of safety means buying meaningfully below the estimate: the wider the range, the more room the assumptions leave for error.
Valuation multiples
DLF Limited trades at a P/E of 37.9x and a P/B of 3.6x, with a dividend yield of 1.2%. Multiples are most useful compared against the company's own history and its sector peers — see the peer comparison for context.
How we got this fair value
Every number below is part of the same estimate for DLF Limited. Nothing here is a target price or a forecast of where the share price will go.
Workable, with real gaps. Weigh it alongside your own view rather than on its own.
Estimate range ₹160 – ₹272
Why this method for this business
Legacy residual income is appropriate for DLF as a real estate developer with a focus on book value and sustainable ROE, which aligns with its capital-intensive nature and long-term value creation.
The models behind the number
Each method is weighted by how well its inputs held up for this company.
Book-value residual income with per-category routing (legacy engine)
- DCF is not suitable due to the cyclical and capital-intensive nature of real estate development, which makes future cash flows highly uncertain and sensitive to macroeconomic conditions.
What was missing
- Lack of forward-looking analyst estimates for key financial metrics
- Limited data on project execution timelines and debt restructuring
What drives it
3 inputs, grouped by how strong each claim is
- Cost of equity
- 12.5%
building-block
- Moat
- None
- Uncertainty
- Very High
computed
computed
Who computed this
A language model (qwen3:8b) selects the valuation method and the judgement inputs for DLF Limited: which models suit the business, the moat, the growth and margin assumptions. It does not produce the number. The fair value itself is computed in Python by a deterministic engine (version 2026.08.1) from those inputs, so the same inputs always give the same result and every figure above can be traced to a source.
Estimated 14 Sept 2026. Re-run as new financials and news arrive.
How we value stocks
We estimate what a business is worth from its own economics: cash flows, returns on capital, and a multiple justified by its quality, rather than from where the share price has been. A fair value estimate is a view, not a verdict, and it is only as good as the inputs listed above.
Read the full fair-value methodologyUnderstand the ratios
More on DLF Limited
DocStoX estimates are computed from reported financials, for informational purposes only, not investment advice. Consult a SEBI-registered advisor before investing.