India's leading listed real estate developer, DLF, has reiterated its ambitious pre-sales target of ₹20,000 crore for the fiscal year 2027, despite reporting a substantial 94% year-on-year drop in pre-sales during the first quarter of FY27. The company attributes this Q1 slowdown to delayed project launches rather than a dip in market demand for premium and luxury housing.
Goa Luxury Project Awaits Launch
Among the key initiatives driving DLF's confidence is the much-anticipated launch of its luxury residential project in Goa. Expected to commence during the current financial year, this project is projected to contribute approximately ₹2,000 crore to the company's FY27 sales guidance, representing nearly 10% of the total target.
Managing Director Ashok Tyagi noted that while the project has faced delays due to an ongoing public interest litigation (PIL), this is not expected to materially impact the annual sales target. Joint Managing Director and Chief Business Officer Aakash Ohri clarified that although all necessary approvals are in place, DLF is prioritizing complete legal clarity before opening bookings to ensure customer confidence.
Entry into Senior Living Segment
Expanding its portfolio, DLF is also making its debut in the senior living segment with a new project in Sector 63, Gurugram, situated on Golf Course Extension Road. This development spans nearly 5 lakh sq. ft. and holds an estimated revenue potential of around ₹2,000 crore. Its launch is contingent upon receiving regulatory approvals.
Strong Demand for Luxury Homes Persists
Despite the Q1 pre-sales dip to ₹657 crore, DLF highlighted sustained robust demand in the luxury housing market. Its ultra-luxury project, The Dahlias in Gurugram, exemplifies this trend, with nearly 65% of its inventory already sold. Apartments in The Dahlias are now priced at over ₹1 lakh per sq. ft., attracting a significant buyer base, with 25-30% of purchasers originating from outside the National Capital Region, including a growing number of Non-Resident Indians (NRIs).
For Q1 FY27, DLF reported a 4% year-on-year increase in consolidated net profit, reaching ₹794 crore. However, overall revenue saw a decline, primarily due to lower project execution during the quarter.