DLF’s Q1 sales bookings crash 94% to ₹657 crore on deferred launches

Bengaluru: Realty major DLF Ltd's new sales bookings slowed to a trickle in the April-June quarter in the absence of fresh project launches, which typically boost sales momentum.

The Gurugram-based developer's first new sales bookings stood at ₹657 crore, down 94.25% from ₹11,425 crore in the corresponding year-ago quarter, driven mainly by major luxury projects such as DLF Privana North in Gurugram.

DLF's Q1 revenue from operations fell 52.8% to ₹1,280.34 crore from ₹2,716.70 crore a year earlier, while net profit rose 3.9% to ₹794 crore. The company said on Monday that the new sales bookings for the quarter reflect “the timing impact of deferred launches”.

“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. With sustained customer demand, strong brand positioning, deep market presence and a defined launch pipeline, we remain confident of achieving our stated medium-term growth goals,” the company said in a statement. DLF reported strong surplus cash generation during the June quarter, boosting its net cash position to ₹15,200 crore.

The company has set a sales target of ₹20,000 crore for FY27, unchanged from last year, as it prioritizes margins and cash flows over aggressive sales growth. The developer has lined up launches worth around ₹20,000 crore this year across Gurugram, Mumbai and Goa.

Big four target

India’s top four listed real estate developers – DLF, Godrej Properties Ltd, Prestige Estates Projects Ltd and Lodha Developers Ltd – are targeting a combined ₹1.19 trillion in housing sales in FY27 as they sharpen their focus on increasing profits and acquiring new land in a calibrated manner. These four companies crossed a major sales milestone with ₹1.05 trillion of sales in FY26, as demand for top branded developers remained strong.

Among DLF's peers, Mumbai-based Lodha Developers Ltd saw a 4% rise in sales bookings to ₹4,629 crore in the June quarter, despite no fresh launches. The developer aims for ₹24,000 crore of sales from housing projects this year. Bengaluru-based Prestige Estates Projects Ltd recorded Q1 sales of ₹6579.30 crore, down 46% year-on-year after record-high launches last year.

DLF, which holds a 50-million-sq-ft office and retail-led rental portfolio, expects its retail segment to grow significantly this fiscal year as three new projects begin operations. DLF Midtown Plaza in Delhi (already operational), DLF Summit Plaza in Gurugram, and DLF Promenade in Goa will add a combined 1.5 million sq ft of gross leasable area.