Realty major DLF targets luxury segment launches in the near term

DLF plans ultra-premium launches in FY27, including Golf Course Extension; rental income from Downtown Gurugram and Atrium Place to begin by end-2025

Real estate major DLF on Tuesday said it is targeting luxury segment launches in the near term, with several ultra premium projects slated for roll out next financial year (FY27).

 

During the earnings’ call for the June quarter of 2025-26 (Q1FY26), Aakash Ohri, joint managing director and chief business officer at DLF Home Developers, said the firm is planning launches at Golf Course Extension and Hamilton Court Phase II in FY27.

 

“We are doing extensive planning and product development, focusing on quality and customer experience. These launches are expected next financial year,” he added.

 

India's leading real estate developer by market cap reported an 18 per cent increase in consolidated net profit for the June quarter. It was driven by record-high new sales bookings and strong operational performance, underscoring buoyant demand in India’s premium housing market.

 

DLF’s annuity business, which includes its rent-yielding office and retail assets, continued to show improvement, with occupancy holding steady at 94 per cent. 

 

According to its investor presentation, the company has about 28 million square feet (msf) under planning and development in the segment, including 5 msf scheduled for completion in FY26.

 

The company also informed it is expecting rents from Downtown Gurugram and Downtown 3 Chennai to commence from September–October this year. DLF has already received the occupancy certificates (OC) for these projects.

 

Sriram Khattar, vice-chairman and managing director at DLF said that Atrium Place is also almost fully leased, with only about 150,000 square feet remaining out of the total of 3.1 msf. Both office and retail portions of the project are expected to be fully committed by the end of this month.

 

“The OC for the first three blocks, with an area of 2.1 msf is expected to come towards the end of this month. Three tenants have already begun their fit-outs, and the rest will commence soon after,” he added.

 

DLF is anticipating rentals to start coming in this project from December 2025 or January 2026.

 

New residential sales bookings for the quarter reached ₹11,425 crore, a 78 per cent year-on-year rise from the year-ago period, led by successful launch of DLF Privana North in Gurugram.

 

While DLF is awaiting the requisite approvals for launch in Goa, Ohri said that the main launch for the next phase of Dahlias is expected around March or April next year.

 

“It is a substantial project with a new experience center. Despite some delays, demand remains robust and we are continuing with pre-sales activity as appropriate,” he added. 

 

Regarding Mumbai, Ohri said that the company has just concluded phase one of the project across 5.18 acres. “We plan to move forward with the next phase, but given the regulatory approvals required in Maharashtra it is likely to start only in the next year,” he added.

 

The company also said that it is putting a framework in place to ensure mid-teens rental growth annually, with the rental income growth from its existing portfolio standing at around 7 to 8.5 per cent per annum. 

 

“Full-year rental income growth should be around 15 per cent, but there will be quarterly variations depending on asset handover dates and rental commencement,” Khattar added.