DLF Ltd

DLF Limited reported strong Q2 FY27 results, with new sales bookings of INR 3,800 crores and collections of INR 2,780 crores, generating operating cash flow of INR 1,858 crores. The company's rental portfolio reached 50 million square feet with 96% occupancy by area and 97% by value, driving high-teen profitability growth. Consolidated revenue stood at INR 2,298 crores, including a one-time gain of INR 738 crores. DCCDL reported INR 2,014 crores in revenue and INR 1,537 crores in EBITDA, with a 17% YoY net profit growth. Management highlighted strong demand for projects like Dahlias and the successful launch of Aureva, which sold out completely. Future plans include the Experience Centre launch by December and continued development of projects like The Arbour, with completion timelines extending into FY27-FY28. The company emphasized disciplined execution, brand strength, and prudent capital allocation, with a net cash position of INR 15,100 crores despite a large dividend payout. Management noted challenges related to labor migration and Delhi's GRAP guidelines but expressed confidence in maintaining progress. The rental business is expected to reach an exit run rate of INR 175-180 crores quarterly, with annualized potential of INR 750 crores. Future revenue recognition is tied to project completions, with an inflection point expected in FY27-FY28. The company also discussed land acquisitions and upcoming launches, including a luxury project in DLF Phase 4 slated for Q4. Management reiterated a focus on cash management, margin generation, and growth in the rental segment.

The document emphasizes strong performance metrics, high occupancy rates, successful project launches, and positive future outlooks.