DLF Reports Q2 Profit Down 15% Despite Strong Sales Performance
DLF, India’s leading real estate developer, reported a 15% year-on-year decline in consolidated net profit for the second quarter of FY26. Despite this, the company recorded a significant increase in new sales bookings, driven by strong demand and strategic launches.
DlfReal EstateQ2 ProfitsSales BookingsEbitdaReal Estate NewsOct 30, 2025
According to the company’s consolidated balance sheet, this drop could be attributed to rising overall tax expenses. During the September quarter, the company’s tax expenses stood at ₹276.32 crore on a consolidated basis, compared to ₹466 crore tax reversal reported in the same quarter last year.
The country’s largest real estate developer by market capitalisation also saw a 17% Y-o-Y drop in revenue from operations to ₹1,643 crore in Q2 from ₹1,975 crore in Q1. The fall comes despite the developer recording higher new sales bookings in the September quarter this year compared to last year.
New sales bookings for Q2 FY26 stood at ₹4,332 crore, compared to ₹692 crore in the same quarter last year. The company said this growth was driven by its successful maiden launch in Mumbai — The Westpark, and continued healthy momentum in the super-luxury segment.
“Cumulative new sales bookings for the first half of FY26 (H1 FY26) stood at ₹15,757 crore, in line with our annual guidance,” DLF said in its regulatory filing. The firm is targeting a ₹20,000-22,000 crore sales guidance for FY26.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 27% to ₹902 crore, compared with ₹708 crore in the year-ago period. Meanwhile, the firm’s Ebitda margin stood at 40%.
DLF added that it will continue to focus on further strengthening of its balance sheet and cash flow generation. “The net cash position stood at ₹7,717 crore at the end of the quarter, despite a higher dividend payout of ₹1,485 crore and debt repayment of ₹963 crore during the quarter,” the company added in its filing.
DLF added that the housing sector continues to benefit from a resilient economy, increasing desire towards home ownership and growing demand for branded, credible developers. “We continue to leverage our high-quality land bank by calibrating our new product offerings to leverage this sustained momentum in line with our guided trajectory,” it said.
DLF’s annuity business, which includes its rent-yielding office and retail assets, continued to show improvement, with occupancy holding steady at 94%. According to its investor presentation, the company has about 25 million square feet (msf) under planning and development in the segment, including 2.7 msf scheduled for completion in FY26.
DLF reported its earnings after market hours. Shares of the company closed a marginal 0.33% lower at ₹776.70 apiece on Thursday.
Frequently Asked Questions
What was DLF's net profit in Q2 FY26?
DLF's net profit in Q2 FY26 was ₹1,180.09 crore, a 15% year-on-year decline.
Why did DLF's net profit decline in Q2 FY26?
The decline in net profit was attributed to rising overall tax expenses, which stood at ₹276.32 crore in Q2 FY26 compared to ₹466 crore tax reversal in the same quarter last year.
How did DLF's revenue perform in Q2 FY26?
DLF's revenue from operations in Q2 FY26 fell by 17% year-on-year to ₹1,643 crore from ₹1,975 crore in Q1.
What were DLF's new sales bookings in Q2 FY26?
DLF's new sales bookings in Q2 FY26 stood at ₹4,332 crore, a significant increase from ₹692 crore in the same quarter last year.
What is DLF's sales guidance for FY26?
DLF is targeting a sales guidance of ₹20,000-22,000 crore for FY26.
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