DLF Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹1,814Cr
- −42% YoY
- −10.2% QoQ
- Net profit
- ₹1,269Cr
- −1% YoY
- +5.5% QoQ
- Margin
- 23%
- −8 pp YoY
- +4 pp QoQ
Guidance rank: #28 of 43 in Realty
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DLF Ltd Q4 FY26 key numbers
- Revenue
- The Dahlias project is anticipated to contribute INR 5,000 to INR 6,000 crores in sales next year.
As stated in DLF Ltd's Q4 FY26 earnings call transcript · published 15 Jul 2026. Reported figures, not investment advice.
The short version
DLF expects to maintain a sales guidance of around INR 20,000 crores annually, with a healthy launch pipeline supporting this trajectory. DLF expects a strong FY26-27 following a robust FY25-26 performance.
From DLF Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- DLF expects to maintain a sales guidance of around INR 20,000 crores annually, with a healthy launch pipeline supporting this trajectory.
- The Dahlias project is anticipated to contribute INR 5,000 to INR 6,000 crores in sales next year.
- New launches planned include a major launch in DLF City (~INR 8,000 to 9,000 crores), Arbour Senior Living, next phase of Westpark (Mumbai), and potential launches in Goa.
- The company emphasizes focusing on margin and cash flow sustainability rather than chasing higher presales volumes aggressively.
- DLF aims for steady revenue growth aided by continued strong demand, calibrated project launches, and robust execution capabilities.
2 more points from DLF Ltd's call on revenue
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Profitability & Margins
DLF expects a strong FY26-27 following a robust FY25-26 performance.
Locked: what DLF Ltd said on margins
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Capital Expenditure Plans
- Significant capex is planned for building the annuity (rent) business portfolio, with a large amount of committed investment ongoing.
- Key projects under construction include Downtown Gurgaon Phase 2 (7.5 million sq. ft, including a 2 million sq. ft mall and 5.5 million sq. ft office space) and Atrium Place (3.2 million sq. ft with expected rental of ~INR 700 crores).
- New malls (three mentioned) are being developed, with openings scheduled in FY27/FY28.
- Launch pipeline includes major projects like Dahlias, Arbour Senior Living, Westpark phases, and others in Gurugram, Mumbai, and Goa, targeting INR 20,000 crores launch value in FY27.
2 more points from DLF Ltd's call on capex
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
The company has achieved zero gross debt position in the development business as of last fiscal.
Locked: what DLF Ltd said on fundraising
Also locked on this page: margins
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Order Book & Pipeline
- DLF has a medium-term launch pipeline of INR 60,000 crores as an update of a previously laid out INR 1,14,000 crores pipeline spanning 5 years.
- For FY27, they target around INR 20,000 crores in launch pipeline, including:
- A big launch in DLF City worth INR 8,000 to INR 9,000 crores.
- Launch of Arbour Senior Living project.
- Next phase launch of Westpark in Mumbai.
- The presales target is broadly maintained around INR 20,000 crores, with an expected new margin creation of approximately INR 9,000 crores annually.
- There is also a land bank of nearly 40 million sq ft (outside the launch pipeline) in northern and metro regions, fully marketable though some launches are planned prudently over 2-3 years to capture better pricing.
2 more points from DLF Ltd's call on order book
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DLF Ltd — Quarterly revenue & net profit
DLF Ltd Q4 FY26 results — key figures
| ₹ Cr | Q4 FY26 | Q4 FY25 | YoY | Q3 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 1,814 | 3,128 | -42% | 2,020 | -10.2% |
| Operating profit (EBITDA) | 411 | 978 | -58% | 390 | +5.4% |
| Operating margin | 23% | 31% | -8 pp | 19% | +4 pp |
| Profit before tax | 649 | 1,053 | -38.4% | 723 | -10.2% |
| Net profit (PAT) | 1,269 | 1,282 | -1% | 1,203 | +5.5% |
| EPS (₹) | 5.12 | 5.18 | -1.2% | 4.86 | +5.3% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.3K Cr, net profit ₹1.3K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What DLF's management said in earlier quarters
Others in Realty this season
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- P.E. Analytics (Q4 FY26)
FY26 consolidated revenue: ₹5,38,436 thousand, up 6% from ₹5,06,902 thousand in FY25. Key investor presentation takeaways from P.E. Analytics Ltd's Q4 FY26 inve
- TARC Ltd (Q4 FY26)
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on management's own guidance
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were DLF Ltd Q4 FY26 results?
DLF expects to maintain a sales guidance of around INR 20,000 crores annually, with a healthy launch pipeline supporting this trajectory. DLF expects a strong FY26-27 following a robust FY25-26 performance.
What is DLF Ltd share price analysis?
DLF Ltd currently shows a neutral. The stock trades at a P/E of 38.3 with a market cap of ₹164,608 Cr. Investors should review the full earnings analysis for detailed insights.
Is DLF Ltd planning capital expenditure?
Significant capex is planned for building the annuity (rent) business portfolio, with a large amount of committed investment ongoing. - Key projects under construction include Downtown Gurgaon Phase 2 (7.5 million sq.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.