Earnings Review
Other income helps DLF Ltd. Q1 Profit After Tax to rise even as sales plunge
This story was originally published at 20:34 IST on 3 August 2026
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--DLF Apr-Jun consol net profit INR 7.94 bln
--Analysts saw DLF Apr-Jun consol net profit at INR 10.81 bln
--DLF Apr-Jun consol revenue INR 12.80 bln
--Analysts saw DLF Apr-Jun consol revenue at INR 22.97 bln
--DLF Apr-Jun consol net profit INR 7.94 bln vs INR 7.63 bln year ago
--DLF Apr-Jun consol revenue INR 12.80 bln vs INR 27.17 bln year ago
--DLF Apr-Jun consol EBITDA INR 4.76 bln, consol gross margin 51%
--DLF Apr-Jun consol EBITDA INR 4.76 bln vs INR 6.28 bln year ago
--DLF Apr-Jun consol gross margin 51% vs 32% year ago
By Astha Oriel
NEW DELHI – DLF Ltd. Monday reported a slight year-on-year increase in its consolidated net profit for the June quarter despite its revenue from operations plunging. The bottom line was supported by healthy on-year growth in other income.
The company's consolidated net profit grew over 4% on year to INR 7.94 billion. It was far lower than the Street's expectation of INR 10.81 billion. Though the year-on-year rise in net profit was small, it was still a reversal from decline in the previous quarter. The company's consolidated revenue from operations declined 53% on year to INR 12.8 billion. Analysts had estimated DLF's revenues at INR 22.97 billion.
Analysts had expected the net profit to rise sharply owing to higher margins from luxury projects such as The Dahlias, high rental income from DLF Cyber City Developers Ltd., and lower finance costs. They had also expected revenues to decline moderately in the absence of new launches during the quarter.
The company's other income grew 23% on year, the slowest pace in four quarters, to INR 3.25 billion. Total expenses declined 52% on year, faster than in the trailing quarter, to INR 11.83 billion. Of this, the cost of land, plots, constructed properties, development rights, and others, which accounted for over 60% of total expenses, declined 63% on year to INR 7.14 billion. Finance costs fell 78% on year to INR 176 million and other expenses declined 8% on year to INR 2.39 billion. Expenses related to employee benefits rose 22% on year to INR 1.77 billion.
DLF's consolidated earnings before interest, tax, depreciation, and amortisation tumbled to INR 4.76 billion from INR 6.28 billion a year ago. Its consolidated gross margin in the quarter was 51%, up from 32% in the year-ago quarter. The company's consolidated operating cash surplus after interest and tax was INR 13.17 billion.
Across segments, the company's revenues from real estate operations declined to INR 11.41 billion from INR 25.87 billion a year ago. Its revenues from the rental business rose to INR 1.46 billion from INR 1.35 billion. The company's new sales booking during the quarter was INR 6.57 billion. The consolidated revenues for DLF Cyber City Developers rose 10% on year to INR 19.17 billion with an EBITDA of INR 14.74 billion.
"We remain well positioned to bring our upcoming products to the market and expect the requisite approvals to be received soon for the planned launches," DLF said in a statement. The company plans super luxury projects with sales potential of INR 25 billion, luxury projects with revenue potential of INR 550 billion, premium projects with sales potential of INR 20 billion, and commercial projects with sales potential of INR 7.15 billion in the medium term.
Monday, shares of DLF closed at INR 668.55 apiece on the National Stock Exchange, up 1.4% from Friday. The company released its earnings after market hours. End
Edited by Shubhayan Bhattacharya
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