DLF's sales bookings drop in FY26

Bengaluru: Real estate firm DLF Ltd on Wednesday reported a 5% year-on-year drop in sales bookings in fiscal year 2026 to ₹20,143 crore against ₹21,223 crore in FY25.

The Gurugram-based developer, however, met its sales guidance of ₹20,000-22,000 crore for the year.

The company's net profit rose around 1% to ₹4,408.34 crore during the period, while revenue from operations increased 2.5% year-on-year to ₹8,194.02 crore.

Sales were driven by key projects and launches, including Privana North, Gurugram, a luxury project that clocked bookings of over ₹11,000 crore. It also launched its maiden project in Mumbai – DLF Westpark – with ₹2,300 crore sales. The Dahlias, its ultra-luxury project in Gurugram, clocked bookings of around ₹4,800 crore.

“The company ended the year with a strengthened balance sheet, including a zero gross debt position in the development business and a net cash surplus of ₹14,155 crore," DLF said in a statement.

"With an identified launch pipeline ahead, we remain well positioned to leverage this sustained demand momentum through a calibrated and value-accretive strategy and remain confident of delivering our stated medium-term goals,” the company added.

In the January-March quarter, DLF’s net profit dropped 2.3% year-on-year to ₹1265 crore. Revenue from operations dropped 42% to ₹1814 crore during the period.

Total income also fell to ₹2,093.82 crore in the fourth quarter of 2025-26 from ₹3,347.77 crore in the corresponding period of the preceding year, according to a regulatory filing.

DLF competes with Godrej Properties Ltd, Prestige Estates Projects Ltd, and Lodha Developers Ltd in the residential sector, which has seen sales momentum surge since the pandemic.

The country's four leading real estate developers had aimed to collectively cross ₹1 trillion in residential sales bookings in FY26. They have reported cumulative sales of ₹1.05 trillion, a milestone that marks the strongest year yet for branded players.

Godrej Properties reported ₹34,171 crore in sales in FY26, Lodha clocked ₹20,530 crore, Prestige Estates recorded ₹30,024 crore, and DLF secured ₹20,143 crore in sales bookings.

In FY25, the four developers clocked combined sales of around ₹85,190 crore. Their sales momentum is expected to continue this year as well.

Big milestone

Residential sales last year were driven by luxury and premium home sales across major cities, said Prashant Thakur, executive director and head - research & advisory, Anarock Property Consultants.

”…customers stuck to Grade A, branded developers, giving the top four developers a strong edge over the others," he added.

Thakur is, however, sceptical about the sales momentum continuing at the same level in the overall sector due to the rise in construction costs, labour availability, and the amount of housing inventory in the market.

"In a turbulent market, these four developers, to a great extent, will drive sales and influence customer sentiment going forward," he added.