DLF Q1 Results: Profit Rises 4% To ₹794 Cr; Chairman Says Firm Cautious Despite Expansion Plans

Real estate developer DLF Ltd reported a 4% year-on-year increase in its consolidated net profit for the June quarter, even as revenue and housing sales bookings declined sharply because of delayed project launches.

Chairman Rajiv Singh said the company will continue expanding its residential and commercial real estate businesses while maintaining a cautious approach towards broader macroeconomic developments.

DLF's consolidated net profit for the first quarter of FY27 stood at ₹793.90 crore, compared with ₹762.67 crore in the corresponding period last year.

However, the company's total income fell 46% to ₹1,605.56 crore from ₹2,980.88 crore a year earlier.

The increase in profit was largely supported by a higher contribution from associate and joint venture companies. DLF's share of profit from these entities rose to ₹485.83 crore during the quarter from ₹380.55 crore in the year-ago period, the company said in a regulatory filing.

Pre-Sales Decline 94%

DLF's sales bookings, or pre-sales, dropped 94% to ₹657 crore during the April-June period from ₹11,425 crore in the same quarter last year.

The company attributed the sharp fall to the postponement of planned residential project launches.

"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. With sustained customer demand, strong brand positioning, deep market presence and a defined launch pipeline, we remain confident of achieving our stated medium-term growth goals," DLF said in a statement.

The company's net cash position strengthened further to ₹15,200 crore at the end of the June quarter.

On the commercial real estate front, DLF said its rental portfolio spans nearly 50 million sq ft and continues to maintain an occupancy level of 95%.

"We remain steadfast towards driving steady and sustainable long-term growth in our annuity business by measured capital deployment to build out high quality destinations," the company said.

DLF also said three new retail destinations, together adding 1.5 million sq ft of gross leasable area, are expected to support growth in its retail portfolio during the current financial year.

Chairman Sees Long-Term Opportunities

Addressing shareholders at the company's 61st annual general meeting (AGM), Chairman Rajiv Singh said DLF would continue expanding both its development and annuity businesses while keeping "a cautious eye" on the broader macroeconomic environment.

"This year is particularly special, as your company celebrates 80 years of its journey. Founded in 1946 on the eve of India's independence, DLF has contributed to the nation's economic growth through pioneering urban development," Singh told shareholders, as per PTI.

"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," he added.

Singh further said that India's infrastructure-led growth and urbanisation initiatives present long-term opportunities for the real estate sector.

During FY26, DLF recorded sales bookings of ₹20,143 crore and a net profit of ₹4,408 crore, while its annuity portfolio expanded to around 50 million sq ft.

The company has developed more than 185 projects covering over 352 million sq ft and retains a development potential of 275 million sq ft across residential and commercial segments.