Should you buy, sell or hold DLF post September quarter show? Find out here

DLF share price today: Realty major DLF shares were buzzing in trade on Monday, November 3, 2025, with the scrip rising up to 2.23 per cent to hit an intraday high of ₹773.10 per share.

 

Around 11:00 AM, DLF shares continued to trade 1.91 per cent higher at ₹771 per share. In comparison, the BSE Sensex was trading flat at 84,001.13 levels.

DLF Q2 show 

 

DLF reported a 15 per cent year-on-year (Y-o-Y) decline in consolidated net profit to ₹1,180.09 crore for the September quarter (Q2FY26), compared with ₹1,381.22 crore in the same period last year. The company attributed the decline largely to higher tax expenses during the quarter.

 

DLF’s consolidated tax outgo stood at ₹276.32 crore in Q2FY26, a sharp contrast to a tax reversal of ₹466 crore recorded in the corresponding quarter last year. Meanwhile, revenue from operations fell 17 per cent Y-o-Y to ₹1,643 crore, against ₹1,975 crore in the year-ago period.

 

However, the company posted a strong performance in sales. New sales bookings jumped more than sixfold to ₹4,332 crore in Q2FY26 from ₹692 crore a year earlier, driven by the successful launch of its maiden Mumbai project, The Westpark, and sustained momentum in the super-luxury segment. 

 

Cumulative sales for the first half of FY26 stood at ₹15,757 crore, aligning with DLF’s annual guidance. The company continues to target ₹20,000-22,000 crore in total sales for the full year.

 

On the profitability front, Ebitda rose 27 per cent Y-o-Y to ₹902 crore from ₹708 crore in the previous year, while the Ebitda margin improved to 40 per cent. 

 

The company ended the quarter with a net cash position of ₹7,717 crore, despite a dividend payout of ₹1,485 crore and debt repayment of ₹963 crore during the period.  ALSO READ | Patanjali Foods shares slide 5% even after positive Q2 show; details here

DLF stock price: Should you buy, sell or hold?

Motilal Oswal

 

Analysts at Motilal Oswal remain upbeat on DLF, noting that the developer continues to enhance growth visibility by leveraging its vast land reserves. The brokerage values DLF’s business at ₹2.48 trillion, including DCCDL and net cash, and expects sustained monetisation over the next 12-13 years. It reiterates a ‘Buy’ rating with a target price of ₹1,002, supported by robust launch pipelines and strong cash generation.

Nuvama Institutional Equities

 

Nuvama noted that DLF’s Q2FY26 pre-sales surged 6.3x Y-o-Y to ₹4,330 crore, led by the complete sell-out of its Mumbai project. Collections rose 13 per cent Y-o-Y to ₹2,670 crore, while rental income across DLF and DCCDL expanded 14 per cent Y-o-Y to ₹1,490 crore, with occupancy levels at 94 per cent. 

 

The brokerage cautioned that Gurugram’s housing demand may moderate due to affordability constraints but believes DLF’s diversified portfolio and execution capabilities will sustain its performance. It maintains a ‘Buy’ rating with a revised target price of ₹980 (earlier ₹1,005).