DLF Q1 revenue falls 52% on lower sales bookings, profit edges up

Realty major reports a 4% rise in net profit despite a sharp fall in revenue, with deferred project launches weighing on sales bookings during the June quarter

Real estate major DLF reported a 4 per cent year-on-year (Y-o-Y) rise in consolidated net profit to ₹793.9 crore for the June quarter of financial year 2027 (Q1FY27), even as the firm looks at expanding its housing and commercial portfolio.

 

Addressing shareholders at the 61st Annual General Meeting (AGM) on Monday, also commemorating 80 years since the company was founded, Chairman Rajiv Singh said that the company was in a position to capitalise on the business opportunities to be unlocked from the government's focus on infrastructure projects.

 

“Our development and annuity businesses continue to focus on growth and expansion in their respective areas of operations. We remain confident of achieving our business goals, while maintaining a cautious eye on the overall macroeconomic developments,” Singh added.

 

 

In a statement to the exchanges on Monday, India’s largest listed real estate developer by market capitalisation said its revenue from operations fell 52 per cent Y-o-Y to ₹1,280.34 crore in Q1FY27, compared to ₹2716.7 crore in the same quarter last year.

 

The revenue was impacted by new sales bookings, which stood at ₹657 crore for Q1FY27, reflecting the timing impact of deferred launches. This is down from the ₹11,425 crore new sales bookings recorded by DLF in Q1FY26, on the back of high demand in its Gurugram-based luxury offering Privana North.

 

“We remain well positioned to bring our upcoming products to the market and expect the requisite approvals to be received soon for the planned launches,” the firm said.

 

The softening from deferred launches reflected in earnings before interest, tax, depreciation and amortisation (Ebitda), which declined 58.7 per cent Y-o-Y to ₹150.3 crore from ₹364.2 crore in the year-ago period. Ebitda margin also narrowed to 11.7 per cent from 13.4 per cent, on the back of reduced operating leverage.

 

The company added that it continues to have strong momentum in surplus cash generation, leading to an improved net cash position of ₹15,200 crore at the end of the quarter.

 

DLF added that it remains confident of achieving its stated medium-term growth goals with sustained customer demand, strong brand positioning, deep market presence and a defined launch pipeline. Strengthened balance sheet and consistent cash flow on the back of a significant land bank also help it be better positioned for potential upcycles. The company's operating cash flow stood at ₹1,317 crore as of June 2026.

 

DLF’s annuity business, which includes its rent-yielding office and retail assets, continued to show improvement, with occupancy holding steady at 95 per cent.

 

According to its investor presentation, the company has about 50 million square feet (msf) operational space in the segment.

 

“During the current fiscal, three new retail destinations aggregating approximately 1.5 msf of gross leasable area are expected to commence operations and are expected to drive significant growth in our retail business,” DLF added.

 

This includes DLF Midtown Plaza in New Delhi (which has already commenced operations), DLF Summit Plaza in DLF 5, Gurugram and DLF Promenade in Goa.

 

Shares of the company closed 0.62 per cent higher on BSE at ₹663 apiece on Monday.