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DLF Limited Q2 FY27 earnings call summary

NSE: DLF · BSE: 532868

Earnings call of 17 Oct 2026, summarised by AI from the filing.

DLF reported Q2 FY27 bookings of approximately ₹3,800 cr and revenue of ₹2,298 cr, with DLF rental exit run rate guided at ₹175-180 cr quarterly.

Key takeaways

  1. Bookings New sales bookings approximately ₹3,800 cr in Q2 FY27, with Aureva sold out and Dahlias continuing.
  2. Rental guidance DLF rental exit run rate guided at ₹175-180 cr quarterly, close to ₹750 cr annualised, excluding Atrium.
  3. One-time gain Consolidated revenue ₹2,298 cr includes a one-time gain of ₹738 cr in other income from JV investment valuation.
  4. Dahlias pricing Prices up almost 10% this time, with the price algorithm raising price with every sale.
  5. Construction Q3 construction outflow may see a slight blip from labour migration and GRAP restrictions.

Original filing on BSE

DLF Limited Q2 FY27 results

As filed: Revenue ₹1,261 cr (−23% year on year), EBITDA ₹23.0 cr (−92% year on year), PAT ₹1,301 cr (+10% year on year), EBITDA margin 1.8% (−1,000 bps).

The Q2 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q1 FY27: Revenue ₹1,280 cr (−53% year on year), EBITDA ₹150 cr (−59% year on year), PAT ₹794 cr (+4% year on year), EBITDA margin 11.7% (−166 bps). Score 25 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was below it. EBITDA margin fell 166 bps year on year. Other income 77% of PBT. Revenue fell 29% from last quarter. Share price after the results: +0.7% in 30 days (Nifty 500: −2.4%).
  • Q4 FY26: Revenue ₹1,814 cr (−42% year on year), EBITDA ₹411 cr (−58% year on year), PAT ₹1,269 cr (−1% year on year), EBITDA margin 22.6% (−865 bps). Score 4 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 865 bps year on year. Other income 43% of PBT. Tax rate -14%. Consolidated profit -1% but standalone +55%. Revenue fell 10% from last quarter. Share price after the results: +2.2% in 30 days (Nifty 500: +1.0%).
  • Q3 FY26: Revenue ₹2,020 cr (+32% year on year), EBITDA ₹390 cr (−3% year on year), PAT ₹1,203 cr (+14% year on year), EBITDA margin 19.3% (−686 bps). Score 41 of 100, In line with trend. Revenue and EBITDA growth were in line with the company's own trend; profit growth was below it. EBITDA margin fell 686 bps year on year. Other income 64% of PBT. Tax rate -1%. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: +6.4% in 29 days (Nifty 500: +1.7%).
  • Q2 FY26: Revenue ₹1,643 cr (−17% year on year), EBITDA ₹284 cr (−44% year on year), PAT ₹1,180 cr (+40% year on year), EBITDA margin 17.3% (−818 bps). Score 31 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit before exceptional items growth was in line with it. EBITDA margin fell 818 bps year on year. Other income 59% of PBT. Revenue fell 40% from last quarter. Profit before exceptional items rose ₹233 cr on a year ago, more than the ₹113 cr it added the year before. Share price after the results: −6.8% in 29 days (Nifty 500: +0.4%).
  • Q1 FY26: Revenue ₹2,717 cr (+99% year on year), EBITDA ₹364 cr (+59% year on year), PAT ₹763 cr (+18% year on year), EBITDA margin 13.4% (−342 bps). Score 64 of 100, In line with trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was well below it. EBITDA margin fell 342 bps year on year. Other income 51% of PBT. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue fell 13% from last quarter. Share price after the results: −3.6% in 30 days (Nifty 500: 0.0%).
  • Q4 FY25: Revenue ₹3,128 cr (+47% year on year), EBITDA ₹979 cr (+30% year on year), PAT ₹1,282 cr (+39% year on year), EBITDA margin 31.3% (−407 bps). Score 71 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA growth was above it; profit growth was below it. EBITDA margin fell 407 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Profit rose ₹362 cr on a year ago, more than the ₹350 cr it added the year before. Share price after the results: +14.5% in 30 days (Nifty 500: +0.3%).
  • Q3 FY25: Revenue ₹1,529 cr (+1% year on year), EBITDA ₹400 cr (−22% year on year), PAT ₹1,059 cr (−7% year on year), EBITDA margin 26.2% (−750 bps). Score 13 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit before exceptional items growth was well below it. EBITDA margin fell 750 bps year on year. Other income 120% of PBT. Tax rate -153%. Consolidated profit +61% but standalone -136%. Revenue fell 23% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

DLF Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.