DLF Reports Q1 FY27 Net Profit of ₹794 Crore; Sales Bookings Plunge 94% to ₹657 Crore Amid Deferred Launches
Q1 FY27 Results: Profitability Sustained Amid Launch Deferrals
DLF reported consolidated net profit of ₹794 crore for the first quarter of FY27, up 4 per cent year-on-year, supported by strong operating cash flows and a strengthened balance sheet. Consolidated revenue stood at ₹1,605 crore during Q1FY27, while EBITDA was ₹476 crore and gross margins stood at 51 per cent.
The company generated operating cash flow of ₹1,317 crore during the quarter. Net cash position improved further to ₹15,200 crore at the end of the June quarter. These metrics underscored DLF's underlying operational strength despite near-term revenue headwinds.
Sharp Contraction in Sales Bookings
New sales bookings for the quarter stood at ₹657 crore, reflecting the timing impact of deferred launches. This represents a sharp decline from ₹11,425 crore in the corresponding period a year ago. The company attributed the fall in sales bookings to deferred launches of its housing projects.
Several planned project launches could not commence on schedule because of pending regulatory clearances, though the company clarified that the decline was linked to timing issues rather than subdued buyer interest.
Rental Segment Resilience
Company's rental arm DLF Cyber City Developers Ltd (DCCDL) posted consolidated revenue of ₹1,917 crore for the quarter, with EBITDA standing at ₹1,474 crore, registering a year-on-year growth of 9 per cent, while net profit rose 21 per cent year-on-year to ₹717 crore. This diversified income source provided stability when residential sales slowed.
Path Forward: Anticipated Approvals and Pipeline
The company expects planned launches to gain momentum after receiving requisite approvals and remains confident of achieving its medium-term growth goals. The developer maintains that underlying demand remains intact and expects project launches worth nearly ₹60,000 crore to drive growth over the medium term.
DLF is moving ahead with the launch of its luxury housing project in Goa while also making its debut in the senior living segment with a ₹2,000-crore project in Gurugram. Despite the subdued first quarter, the company has reiterated its FY27 pre-sales target of ₹20,000 crore. The Goa luxury residential project is expected to be launched during the current financial year and is estimated to contribute around ₹2,000 crore, or nearly 10 per cent, of the company's FY27 sales guidance.
Developer Context
DLF Limited is India's largest publicly listed real estate developer by market capitalisation, founded in 1946 and headquartered in New Delhi. DLF has developed over 185 real estate projects and an area more than 352 million square feet, with the Group having 275 million sq ft of development potential across residential and commercial segment. DLF operates across three segments: residential development, commercial office leasing (through DCCDL), and retail.