In our testing in class, yes they do. We set up a standard user account with NFTS Write permissions to a folder the was Targeted in a DFS namespace. We also shared the folder through normal folder sharing methods and specified that the user had Deny share permissions. When attempting to access the folder through the DFS namespace, we were denied access. We then changes the share permission for the user to Read but kept the NTFS permission for the user at Write. When accessing the folder through the DFS namespace, we only had Read permission.
Remember that using NTFS permissions to control access is the preferred method. NTFS is always in effect whether you are accessing the folder locally or remotely. This also makes Role Based Administration much easier in your environments.