India’s top real estate firm by market value, DLF Ltd, aims to secure sales bookings of approximately INR 20,000 crore in the current fiscal year, fueled by robust demand for luxury homes. According to Managing Director Ashok Tyagi, the company anticipates revenue growth as residential projects initiated post-COVID-19 reach completion in the coming years.
In the first half of FY27, DLF achieved property sales totaling INR 4,457 crore. This aligns with its earlier projections, which were based on planned residential developments in Gurugram, Mumbai, and Goa. Tyagi highlighted three critical factors driving the company’s success: robust pre-sales for select residential projects, strong cash flow and profit margins, and steady growth in rental income.
Financial Performance
DLF announced on Friday a 10% year-on-year rise in its consolidated net profit, reaching INR 1,301.35 crore for the second quarter of FY27, up from INR 1,180.09 crore in the same period last year. Total income for the quarter climbed to INR 2,297.30 crore from INR 2,261.80 crore in the previous year, primarily due to increased other income.
Sales bookings for the July–September quarter dropped to INR 3,800 crore from INR 4,332 crore in the same quarter last year, attributed to a reduced supply of new residential units. Notably, DLF’s luxury senior living project in Gurugram achieved a complete sell-out, with all 172 units fetching INR 1,985 crore.
Commercial Rental Portfolio
DLF’s commercial rental assets, encompassing office spaces and malls, cover roughly 50 million square feet. The company boasts a development pipeline of about 275 million square feet across residential and commercial sectors, including ongoing projects. Future growth hinges on project completion timelines, new residential inventory availability, and the expansion of its rental portfolio.
Chief Financial Officer Badal Bagri praised DLF’s strong September quarter performance, crediting it to asset quality, disciplined execution, brand reputation, and strategic capital allocation across development and rental operations. The company reported operating cash flow of INR 1,858 crore and a net cash position of INR 15,084 crore, despite a INR 1,980 crore dividend payout.
With over 185 real estate projects spanning more than 352 million square feet, DLF’s financial results show the distinction between sales bookings and recognized revenue. While sales bookings rely on customer transactions and new project availability, revenue is recorded only upon project completion. Tyagi’s strategy and the company’s track record suggest continued growth ahead.
