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DLF (DLF) investor relations material

DLF Q1 26/27 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 26/27 earnings summary4 Aug, 2026

Executive summary

  • Delivered resilient Q1 FY27 performance with strong operating cash flow, robust net cash position, and disciplined execution, supported by high occupancy in rental assets and industry-leading asset quality.

  • Achieved strong sales bookings of INR 15,200 crore in Q1FY27, reflecting robust demand and operational efficiency.

  • DCCDL reported EBITDA growth of 9% and PAT growth of 21% year-over-year in Q1FY27.

  • Segment reporting initiated for development and rental businesses, highlighting individual performance.

  • Rental income grew 9% year-over-year to INR 1,444 crore, with high occupancy rates in both office (95%) and retail (97%) portfolios.

Financial highlights

  • Q1 consolidated revenue from operations was INR 1,280 crore; EBITDA at INR 476 crore; net profit for the quarter was INR 794 crore, up from INR 766 crore year-over-year.

  • Operating cash flow for Q1FY27 was INR 1,317 crore, with a net surplus of INR 1,046 crore after capex and land payments.

  • DCCDL Q1FY27 rental income reached INR 1,444 crore, with EBITDA at INR 1,474 crore and PAT at INR 717 crore.

  • Group-level rental income at INR 1,600 crore for the quarter, with further ramp-up expected as new assets stabilize.

  • Earnings per share (consolidated, basic and diluted) for Q1 FY27 was ₹3.21, up from ₹3.08 in Q1 FY26.

Outlook and guidance

  • FY28 expected to be an inflection point as large projects like The Arbour begin contributing to P&L, unlocking significant gross margin potential of approximately INR 39,000 crore.

  • Confident in achieving INR 20,000 crore sales guidance for FY27, with Goa residential project contributing about 10% if launched.

  • Medium-term launch pipeline valued at over INR 60,000 crore, with 47% of projects launched in the first two years.

  • Targeting rental income of INR 10,000 crore in the medium term, supported by a growing annuity business and high-quality land bank.

  • Management remains confident of positive outcomes in ongoing litigations and expects no material impact on financials.

Rationale for reporting Rental as a new segment
Recovery status of 396.86 cr CIL receivables
Status of Gurugram IT SEZ land litigation
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