Q1 2026 DLF Ltd Earnings Call Transcript
Key Points
- DLF Ltd (BOM:532868) reported a significant year-over-year growth of 78% in sales bookings for the development business, reaching INR11,425 crores.
- The company achieved a net cash surplus of over INR1,100 crores, reflecting strong financial management.
- DLF Ltd reduced its debt by INR1,364 crores in the current quarter, strengthening its balance sheet.
- The rental business showed robust growth with a 15% year-over-year increase in reported rental income.
- The company successfully launched projects in Mumbai and Privana, indicating strong demand and market confidence in DLF Ltd's offerings.
- Revenue for the quarter was slightly below expectations at INR2,981 crores, with a gross margin of 28%, impacted by product mix changes.
- Collections for the quarter were relatively flat, attributed to delays in construction due to weather conditions.
- The gross margin was affected by the decline in sales of high-margin products like Camellias and DC floors.
- The company faces challenges in the approval process for new projects, particularly in regions like Goa and Delhi, which could delay future launches.
- Despite strong sales, a significant portion of cash remains locked in RERA accounts, limiting immediate liquidity for other uses.
Ladies and gentlemen, good day and welcome to DLF Limited's Q1 FY26 earnings conference call. Today we have with us on the call Mr. Ashok Tyagi, Managing Director, DLF Limited; Mr. Shriramkatter; Vice Chairman and Managing Director, Rental Business; Mr. Aakash Ohri, Joint Managing Director and Chief Business Officer; and Mr. Badal Bagri, Group CFO, DLF Limited. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Badal Bagri. Thank you, and over to you, sir.
Thank you, and welcome to the first quarter earnings call for financial year '25-'26. I'll just start with the key highlights before we start our question-and-answer session. Our (inaudible) over sales booking for the development business stood at INR11,425 crores, which reflects a year-over-year growth of almost 78%. This was led by another successful launch in our DLF Privana ecosystem. This reaffirms the sustained demand of high-quality products, which are backed by DLF as a brand
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