DLF (DLF) Q1 25/26 earnings summary

Executive summary

• Sales bookings reached INR 11,435 crore in Q1FY26, up 78% year-over-year, driven by strong launches in the Privana ecosystem and robust demand in luxury segments.

• Net cash surplus generation was INR 1,131 crore, with a gross cash balance of INR 10,429 crore and net cash position of INR 7,980 crore.

• Debt reduced by INR 1,364 crore, reflecting a robust balance sheet and improved net debt to EBITDA of 3.2x for DCCDL.

• EBITDA stood at INR 628 crore and PAT at INR 766 crore, with PAT growing 19% year-over-year.

• Board approved unaudited standalone and consolidated financial results for the quarter ended 30 June 2025.

Financial highlights

• Consolidated revenue for the quarter was INR 2,981 crore, up 99% year-over-year, with a gross margin of 28%.

• DCCDL reported Q1FY26 revenue of INR 1,739 crore and PAT of INR 593 crore, a 26% year-over-year increase.

• Standalone revenue from operations at ₹467.82 crore, up from ₹405.32 crore year-over-year.

• Standalone net profit at ₹40.26 crore, compared to ₹3.79 crore in the same quarter last year.

• Exceptional item of ₹302.39 crore impacted both standalone and consolidated results.

Outlook and guidance

• Strong sales pipeline with launches planned across super-luxury, luxury, and premium segments, totaling 37 msf and INR 1,14,500 crore in sales potential.

• No risk seen to achieving FY 2026 pre-sales guidance of INR 20,000–22,000 crore, with robust Q1 performance and pipeline.

• 28 msf under planning/development in annuity business, with ~5 msf expected to complete in FY26.

• Management views the business as a single segment focused on real estate development, with operations domiciled in India.