DLF Limited, the country's largest public real estate company, forecasts an acceleration in revenue growth starting from the fiscal year 2028. This is because the company's launched projects, totaling approximately ₹75,000 crore, are nearing completion and being handed over to buyers.
Badal Bagri, Chief Financial Officer of DLF, stated on Saturday that the turning point in the company's revenue, estimated at around ₹75,000 crore from completed projects, will be visible between 2027 and 2028. He clarified that all this income will be recognized over the next four to five years.
Bagri also explained that the company uses a method of accounting for completed contracts, whereby revenue is recorded only after the project is finished and the Occupancy Certificate (OC) is received.
Information on The Dahlias Project
Akash Ohri, Deputy Managing Director and Chief Business Officer of DLF Limited, noted that the price in the The Dahlias project has increased by 10 percent in the current quarter. He added that further price increases are expected after the completion of the experience center.
According to Ohri, the pricing algorithm of The Dahlias guarantees growth with every sale; it is a progressive system that does not depend on the speed or volume of sales.
Construction and Rental Updates
Meanwhile, Ashok Tyagi, Managing Director and CEO of DLF Limited, stated that construction costs may temporarily decrease due to workforce migration related to the festive season and adherence to the Guidelines of the Graduated Response Plan (GRAP) in the National Capital Region (NCR). However, Tyagi assured that the company has secured agreements with contractors and workers to maintain an acceptable pace of work, and any difficulties should subside after the lifting of GRAP restrictions.
Regarding the rental portfolio, the company anticipates a quarterly run rate of ₹175–180 crore, excluding Atrium, which equates to ₹750 crore annually.
Tyagi also confirmed that DLF will continue to follow its annual dividend policy, noting that the company establishes a more predictable stream of dividends from DCCDL to DLF regularly, but currently, DLF dividends remain annual.
On Friday, the company published its second-quarter results after market close. The company's shares closed on the Bombay Stock Exchange 0.66 percent higher, at a price of ₹674 per share.
The major real estate player demonstrated an 11 percent year-on-year growth in consolidated net profit, reaching ₹1,301.35 crore in the second quarter of the 2027 fiscal year. Meanwhile, operating revenue decreased by 23 percentage points year-on-year to ₹1,260 crore for the quarter ending in September. New sales bookings jumped by 478.7 percent compared to the previous quarter, amounting to ₹3,800 crore.
Furthermore, the company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 17.5 percent year-on-year, reaching ₹1,060 crore compared to ₹902 crore in the same period last year.
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