Real estate major DLF on Friday said it is targeting luxury-segment launches in the near term, with several ultra-premium projects slated for rollout in the next eighteen months.
During the earnings call for the September quarter of 2025-26 (Q2 FY26), Aakash Ohri, joint managing director and chief business officer at DLF Home Developers, said the firm’s pipeline for the year and a half includes launches at Goa, Arbour Senior Living, Hamilton Court Phase II, and the second phase of The Westpark in Mumbai.
While DLF’s Goa project is expected to be launched in Q3 FY26, the rest are expected to be taken up for launch in FY27. Ohri said that DLF will also look at more rounds in Privana and its investments in Panchkula in the next financial year.
“Right now, our main focus is making sure that our construction capabilities are strengthened so that customer commitments are on track,” he added.
India’s leading real estate developer by market capitalisation reported a 15 per cent drop in consolidated net profit for the September quarter.
While the decline was attributed to high debt repayment, the developer recorded high new sales bookings and strong operational performance, underscoring buoyant demand in India’s premium housing market.
On potential future investments in Noida, Ohri said that while the developer is interested in the market, it will wait for good opportunities there.
DLF’s annuity business, which includes its rent-yielding office and retail assets, continued to show improvement, with occupancy holding steady at 94 per cent.
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.
Rental income for DLF’s three retail assets that are scheduled for completion in FY26 is expected to start from Q4 of this financial year and will accumulate towards Q2 FY27, according to officials.
These include Midtown Plaza in Delhi, Summit Plaza in Gurugram, and DLF Promenade in Goa.
“Tenant bidders are progressing fast, and we expect the rental income to start coming in from December. But for all three put together, the rental income will come by about April next year,” said Sriram Khattar, vice-chairman and managing director at DLF.
While the occupancy certificate (OC) for Midtown Plaza has already been received, OCs for the two other assets are also expected soon.
“After the OC comes, it typically takes an average of four to five months for tenants to complete their fit-outs before the income starts coming in. On a cumulative basis, for the three malls, the rental income should be around ₹450–460 crore,” Khattar said.
For future projects, officials added that the firm is identifying potential assets it can take on once these three malls are commissioned.
“While our five-year projection does lay out some of those assets, I think serious work on those could be done by the early part of next year,” an official said.
Khattar added that construction at Downtown Gurugram is in full swing, with the project slated to be completed by mid-2028. “As for Downtown Chennai, construction of Towers 4 and 5 is going on, with the project expected to be completed by the beginning of 2028,” he said.
On Friday, DLF’s shares closed 2.64 per cent lower at ₹756.20 apiece on the bourses.
