The country’s largest listed real estate company, DLF Limited, expects revenue growth to accelerate from FY28 onwards as its launched projects, worth around ₹75,000 crore, near completion and are handed over to buyers, Badal Bagri, group chief financial officer at DLF, said on Saturday.
“We have highlighted earlier that our inflection point of revenue, which is almost INR 75,000 crore of launched end projects so far, you’ll see in 2027 to 2028, and going forward the next four, five years is when this entire revenue is going to get recognised,” Bagri said.
He added that the company follows the completed contract method of accounting, under which revenue is recognised only once a project is completed and an occupation certificate (OC) is received.
Aakash Ohri, joint managing director and chief business officer at DLF Limited, said the company’s Dahlias project had seen a price increase, with a 10 per cent rise already recorded this quarter. He added that further increases were expected once the experience centre was completed.
“The Dahlias pricing algorithm makes sure that there is an increase with every sale. It is not linked to velocity or the number of sales. It is a progressive kind of system,” he said.
Meanwhile, Ashok Tyagi, managing director and chief executive officer at DLF Limited, said construction outflows could experience a temporary decline as the industry enters a phase of labour migration owing to the festive season and the Graded Response Action Plan (GRAP) guidelines issued in the National Capital Region (NCR).
Allaying concerns, Tyagi said the company had ensured that contractors and labour arrangements were in place to maintain decent progress. He added that any difficulties should ease after the GRAP restrictions were lifted.
For its rental portfolio, the company expects a quarterly exit run rate of ₹175-180 crore, excluding Atrium, equivalent to ₹750 crore on an annual basis.
Tyagi also said DLF would continue to maintain an annual dividend policy. “We are clearly establishing a more predictable dividend pipeline from DCCDL to DLF on a regular basis. But DLF dividends continue to be annual. We’ll see in the future, but right now, I think our guidance continues to be an annual dividend,” Tyagi said.
On Friday, the company announced its results for the second quarter after market hours. Its shares closed 0.66 per cent higher at ₹674 apiece on the Bombay Stock Exchange.
The real estate major posted an 11 per cent year-on-year increase in its consolidated net profit to ₹1,301.35 crore in the second quarter of FY27, while revenue from operations fell 23 per cent year-on-year to ₹1,260 crore in the quarter ended September. New sales bookings jumped 478.7 per cent quarter-on-quarter to ₹3,800 crore during the quarter.
Meanwhile, the company’s earnings before interest, tax, depreciation and amortisation (Ebitda) increased 17.5 per cent year-on-year to ₹1,060 crore from ₹902 crore in the corresponding period last year.
