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Informist, Wednesday, May 13, 2026

By Astha Oriel

NEW DELHI – DLF Ltd. Wednesday reported a sharp year-on-year decline in consolidated revenue for the March quarter, missing the analysts' view by a wide margin. The year-on-year decline in the real estate company's top line was its steepest in 19 quarters. The company's net profit was largely flat year-on-year but was in line with Street estimates. 

The company's consolidated net profit declined by over 1% on year to INR 12.69 billion in the March quarter. Analysts had estimated the company's consolidated net profit to be INR 12.52 billion. In absolute terms, the company's net profit was the highest over the past four quarters. 

The company's revenue from operations declined 42% on-year to INR 18.14 billion. Analysts had estimated DLF Jan-Mar consolidated revenue at INR 27.18 billion. Sequentially, net profit rose 5% and revenue declined 10%.

The company's total expenses declined by nearly 36% on year and over 13% on quarter to INR 14.73 billion. The company's total expenses declined the fastest in 23 quarters. The company's finance costs declined nearly 81% on year to INR 211 million for the March quarter. The cost of land, plots, constructed properties, development rights, and others declined by over 51% on year to INR 8.07 billion. The company's other expenses grew by more than 12% on year to INR 4.15 billion in the March quarter. 

For the March quarter, the company's total income declined by more than 37% on year and nearly 16% on quarter to INR 20.94 billion. For the March quarter, the company's collections were INR 33.01 billion, and sales bookings were INR 39.67 billion. 

For its subsidiary DLF Cyber City Developers Ltd., rental income grew 17% on year to INR 14.25 billion. For the medium term, the company has a healthy pipeline of projects worth INR 60.21 billion, it said in its investor presentation. For its annuity business, the company aims to reach INR 100 billion in rental income in the medium term, according to the investor presentation. 

For 2025-26 (Apr-Mar), the company's consolidated net profit grew 1% on year to INR 44.15 billion. The company's revenue during the year increased by more than 2% to INR 81.94 billion.

In FY26, the company's collections grew 15% to INR 135.17 billion, and its sales bookings were INR 201.43 billion in line with guidance. "With a significant land bank, a robust launch pipeline across development and rental businesses, a strengthened balance sheet and consistent cash flow generation, DLF is well positioned to capitalise on the structural upcycle in the sector," the company said in a press release. The company's board has recommended a dividend of INR 8 per share for FY26. 

On Wednesday, the company's shares closed 0.9% higher at INR 574.15 on the National Stock Exchange. End

Edited by Saji George Titus

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