Who are DLF's main competitors?

Named competitors: Godrej Properties (GODREJPROP.NS), Oberoi Realty (OBEROIRLTY.NS), Prestige Estates Projects (PRESTIGE.NS), Macrotech Developers (Lodha) (LODHA.NS). The cockpit's measured peer set (industry) also includes Swire Properties (1972.HK), Sumitomo Realty & Development C (8830.T), China Overseas (0688.HK), Henderson Land (0012.HK), KE Holdings, Inc. Class A (2423.HK), CK Asset (1113.HK).

Is DLF expensive compared with its peers?

On forward p/e it trades at 38.3× against a peer median of 17.0×, 3rd most expensive of 21 in its peer set.

How has DLF stock performed?

Over six months to 6 Nov 2026 the shares returned +21.7% against -6.2% for the median peer; over one year -3.0%.

← CockpitCompetitor Analysis › DLF.NS DLFOpen in the cockpit ↗

DLFDLF.NSCompetitor analysis, valuation and peers

India · INR·Realty›Real Estate Development

India's largest listed real-estate developer, building residential townships and owning premium office/retail space mainly around Delhi NCR.

≈ India's Related CompaniesMomentum leader 90

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$19.7B

US dollars, full cap

Free float

26%

of shares outstanding

$/day

$19.6M

20-day average traded

Fwd P/E

38.3×

forward earnings

ROIC−WACC

n/a

WACC 19.4%

Hurdle

n/a

no reverse DCF

Next earnings

77 days

22 Jan 2027

Close · INR₹752.90

1D+1.0%

1W+8.9%

1M+14.8%

3M+17.3%

6M+21.7%

YTD+9.5%

1Y-3.0%

ATR %2.4%

Beta1.59

52w lowhigh4.0% off high

What DLF does

India's largest listed real-estate developer, building residential townships and owning premium office/retail space mainly around Delhi NCR.

Residential sales are booked as projects are built and sold, lumpy and tied to launches, while office leasing at Cyber City gives steadier rent. The office arm is a joint venture with Singapore's sovereign fund GIC, and the founding Singh family still controls DLF.

In one line: India's Related Companies.

Products and services

Residential development & sales
Office leasing (via DLF Cyber City JV)
Retail malls
Land-bank monetisation

Customers

Home buyers in Delhi NCR/Gurugram
Corporate office tenants
Retail tenants

Where it sits in the supply chain

Real estate
Development
Residential + commercial leasing

What could go right

Housing upcycle in NCR
Office demand from global capability centres

What could go wrong

Real-estate cycle / interest rates
Land approval and litigation delays

Moat: narrow (brand, scale, installed base). Largest land bank and strongest brand in Delhi NCR luxury housing and office space.

Headquarters: New Delhi, India · Founded: 1946 · Employees: 4,310

Named competitors

DLF at a glance

Size DLF (DLF.NS) is an India Real Estate company (Real Estate Development) with a market value of $19.7B, the 50th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹752.90 on 6 Nov 2026.

Performance Over six months the shares gained 21.7%, against -6.2% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 21 in its peer set.

Growth Revenue fell 29.3% over the last twelve months (peer median +3.6%); the operating margin is 12.9% (peer median 21.9%).

Valuation It trades at 38.3× forward earnings against a peer median of 17.0× (3rd most expensive of 21).

Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: DLF against the median of its 20 peers (local-currency closes).

DLF financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹63.8B	₹81.9B	₹79.9B	₹62.5B	₹56.9B
Revenue growth	—	+3%	+28%	+10%	—
Gross profit	₹20.9B	₹24.4B	₹30.2B	₹26.6B	₹24.6B
EBITDA	₹9.74B	₹15.2B	₹21.8B	₹19.9B	₹18.1B
Net income	₹45.7B	₹44.1B	₹43.7B	₹27.3B	₹20.4B
Free cash flow	n/a	₹82.2B	₹63.6B	₹29.0B	₹29.4B
Capital expenditure	n/a	₹1.29B	₹960M	₹1.16B	₹637M
Total debt	₹3.14B	₹3.06B	₹41.0B	₹48.3B	₹33.3B

Quarterly statements and history in the cockpit →

DLF competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. DLF is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. DLF is the large dot.

DLF competitors and peer comparison

Head to head with its named competitors (DLF.NS vs GODREJPROP.NS vs OBEROIRLTY.NS vs PRESTIGE.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
DLF DLF.NS	$19.7B	+22%	-29%	13%	38.3×	n/a
Godrej Properties GODREJPROP.NS	$5.77B	-4%	+17%	21%	24.5×	n/a
Oberoi Realty OBEROIRLTY.NS	$6.66B	+4%	+16%	57%	20.0×	n/a
Prestige Estates Projects PRESTIGE.NS	$7.42B	+10%	+66%	24%	38.5×	n/a
Lodha Developers LODHA.NS	$12.5B	+22%	+21%	31%	27.0×	n/a

How DLF compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

DLF against its 20 peers (data as of 6 Nov 2026)
Measure	DLF.NS	Peer median	Rank in peer set
1-month return	+14.8%	+7.5%	2nd highest of 21
6-month return	+21.7%	-6.2%	3rd highest of 21
Distance from 52-week high	-4.0%	-15.6%	3rd highest of 21
Revenue growth (TTM)	-29.3%	+3.6%	lowest of 21
Operating margin	12.9%	21.9%	6th lowest of 21
Forward P/E	38.3×	17.0×	3rd most expensive of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
DLF DLF.NS	India	$19.7B	+22%	-29%	13%	38.3×	n/a	n/a
Swire Properties 1972.HK	Hong Kong	$19.4B	+4%	+6%	49%	18.3×	n/a	n/a
Sumitomo Realty & Development C 8830.T	Japan	$18.8B	-34%	+5%	29%	12.8×	n/a	n/a
China Overseas 0688.HK	Hong Kong	$18.4B	-13%	+4%	11%	10.2×	n/a	n/a
Henderson Land 0012.HK	Hong Kong	$18.3B	-12%	+46%	20%	17.2×	n/a	n/a
KE Holdings, Inc. Class A 2423.HK	Hong Kong	$21.4B	+3%	-11%	6%	16.8×	n/a	n/a
CK Asset 1113.HK	Hong Kong	$21.9B	-3%	+48%	15%	12.8×	n/a	n/a
Hongkong Land H78.SI	Singapore	$17.7B	-1%	-25%	23%	20.9×	n/a	n/a
Jones Lang LaSalle JLL	United States	$16.9B	+12%	+11%	5%	13.4×	n/a	n/a
Vonovia VNA.DE	Germany	$16.1B	-24%	-17%	40%	9.4×	n/a	n/a
Mitsui Fudosan 8801.T	Japan	$27.4B	-5%	-10%	14%	14.9×	n/a	n/a
China Res Land 1109.HK	Hong Kong	$29.1B	-7%	-12%	16%	8.9×	n/a	n/a
Mitsubishi Estate 8802.T	Japan	$29.5B	-12%	+17%	21%	19.2×	n/a	n/a
Swiss Prime Site SPSN.SW	Switzerland	$13.0B	+1%	-12%	76%	31.7×	n/a	n/a
Sino Land 0083.HK	Hong Kong	$12.8B	-20%	+15%	34%	20.4×	n/a	n/a
Wharf Reic 1997.HK	Hong Kong	$12.6B	+24%	-1%	73%	14.8×	n/a	n/a
Lodha Developers LODHA.NS	India	$12.5B	+22%	+21%	31%	27.0×	n/a	n/a
China Res Mixc 1209.HK	Hong Kong	$12.1B	-14%	+10%	28%	18.4×	n/a	n/a
Klepierre LI.PA	France	$11.6B	+8%	+3%	63%	13.1×	n/a	n/a
China Merchants Shekou Industrial Zone 001979.SZ	China	$10.4B	-10%	-22%	1%	69.7×	n/a	n/a
Poly Developments & 600048.SS	China	$10.1B	-9%	-4%	4%	48.6×	n/a	n/a

Questions

Who are DLF's main competitors?: Named competitors: Godrej Properties (GODREJPROP.NS), Oberoi Realty (OBEROIRLTY.NS), Prestige Estates Projects (PRESTIGE.NS), Macrotech Developers (Lodha) (LODHA.NS). The cockpit's measured peer set (industry) also includes Swire Properties (1972.HK), Sumitomo Realty & Development C (8830.T), China Overseas (0688.HK), Henderson Land (0012.HK), KE Holdings, Inc. Class A (2423.HK), CK Asset (1113.HK).
Is DLF expensive compared with its peers?: On forward p/e it trades at 38.3× against a peer median of 17.0×, 3rd most expensive of 21 in its peer set.
How has DLF stock performed?: Over six months to 6 Nov 2026 the shares returned +21.7% against -6.2% for the median peer; over one year -3.0%.