Lodha and DLF Aim for ₹20,000 Crore Sales Target Amid Divergent Q2 Profits
Lodha Developers and DLF Ltd are setting their sights on a combined ₹20,000 crore sales target for FY26, despite divergent Q2 profits. Lodha reported a significant jump in net profit, while DLF's profits declined. Both companies are leveraging strong project pipelines and a focus on premium segments to achieve their ambitious goals.
Lodha DevelopersDlf LtdReal EstateResidential SalesProject LaunchesReal Estate MumbaiOct 30, 2025
In the second quarter, Lodha secured ₹4,570 crore in pre-sales, bringing its total pre-sales for 2025-26 to ₹9,020 crore. Sushil Kumar Modi, Executive Director-Finance at Lodha Group, commented, “We have already achieved around 43% of our FY26 pre-sales target of ₹21,000 crore. Our business continues to perform strongly and remains firmly on track to deliver the full-year guidance.”
Lodha has a robust launch pipeline of projects worth ₹14,000 crore planned for the second half of FY26. These projects will be launched across all three cities in which it operates. Modi added, “Approximately one-third of our business contribution will come from markets outside Mumbai—a significant expansion driven by new geographies. For instance, Bengaluru, which contributed around ₹730 crore in pre-sales in FY25, will clock ₹3,000 crore this year. Pune will also see a significant rise in pre-sales.”
The top four developers—Lodha Developers, DLF Ltd, Godrej Properties Ltd, and Prestige Estates Projects Ltd—are collectively aiming to cross ₹1 trillion in residential sales in FY26, marking the strongest year yet for branded players. In FY25, the four developers clocked combined sales of around ₹85,190 crore. This ambitious push for record residential sales this year is driven by a robust pipeline of project launches, existing inventory, and a focus on premium projects that yield higher margins.
Meanwhile, Gurugram-based DLF's September-quarter net profit slid 14.5% to ₹1,180.09 crore on a year-on-year basis, while revenue from operations dropped 16.8% to ₹1,643.04 crore. After a blockbuster quarter of sales worth ₹11,425 crore in the April-June period, DLF's new sales bookings stayed steady at ₹4,332 crore in the quarter ended September, driven by its maiden project launch in Mumbai—The Westpark—and continued good momentum in the super-luxury segment.
In the June quarter, the high sales were mainly due to its large, luxury project, named Privana North, in Gurugram. DLF stated, “Cumulative new sales bookings for H1FY26 stood at ₹15,757 crore, in line with our annual guidance (₹20,000-22,000 crore).” The company also noted, “We continue to focus on further strengthening of our 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.”
Despite the divergent Q2 profits, both Lodha and DLF are well-positioned to achieve their ambitious sales targets for FY26, driven by strong project pipelines, a focus on premium segments, and robust market conditions.
Frequently Asked Questions
What was Lodha Developers' net profit in the July-September quarter of FY26?
Lodha Developers' net profit in the July-September quarter of FY26 was ₹789.8 crore, a 86.6% increase compared to the same period last year.
What is Lodha Developers' pre-sales target for FY26?
Lodha Developers' pre-sales target for FY26 is ₹21,000 crore.
How much did DLF's net profit decline in the September quarter of FY26?
DLF's net profit declined by 14.5% to ₹1,180.09 crore in the September quarter of FY26 compared to the same period last year.
What is DLF's cumulative new sales bookings for H1FY26?
DLF's cumulative new sales bookings for H1FY26 stood at ₹15,757 crore, in line with their annual guidance of ₹20,000-22,000 crore.
What are the key factors driving the ambitious sales targets of top developers for FY26?
The key factors driving the ambitious sales targets of top developers for FY26 include a robust pipeline of project launches, existing inventory, and a focus on premium projects that yield higher margins.
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