DLF Plans New Luxury Launches Across India

During its Q2 FY26 earnings call, Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, said the company’s upcoming launches include new projects in Goa, Arbour Senior Living, Hamilton Court Phase II, and the second phase of The Westpark in Mumbai.

The Goa development is expected to launch in Q3 FY26, while the remaining projects are likely to roll out in FY27. Ohri added that DLF will also pursue additional phases of its Privana development and new investments in Panchkula during the next financial year. “Our immediate focus is on strengthening construction capabilities to ensure timely delivery and uphold customer commitments,” he said.

India’s largest listed real estate firm by market capitalisation reported a 15 per cent year-on-year decline in consolidated net profit for the September quarter, mainly due to significant debt repayment. However, the company recorded robust new sales bookings and strong operational performance, reflecting steady demand in India’s high-end housing market.

On Noida, Ohri noted that while DLF remains interested in the market, it will adopt a cautious approach and invest when the right opportunities arise.

DLF’s annuity portfolio — comprising rent-yielding office and retail assets — continued to perform well, with occupancy levels steady at 94 per cent. The company has around 25 million square feet under planning and development, including 2.7 million square feet scheduled for completion in FY26.

According to senior management, rental income from three retail projects — Midtown Plaza in Delhi, Summit Plaza in Gurugram, and DLF Promenade in Goa — is expected to begin from Q4 FY26 and increase through Q2 FY27.

“We expect tenants to start generating rental income from December, with all three malls contributing by around April next year,” said Sriram Khattar, Vice-Chairman and Managing Director at DLF. He added that the occupancy certificate (OC) for Midtown Plaza has already been obtained, while the other two are expected shortly.

“Once the OC is issued, it typically takes four to five months for tenants to complete their fit-outs. Cumulatively, the three malls are projected to generate rental income of around Rs 4.5–4.6 billion,” Khattar said.

DLF officials noted that the company is already assessing potential assets for future development once these malls are operational. “While our five-year roadmap identifies several such projects, serious work on them should begin early next year,” one official added.

Khattar further confirmed that construction at Downtown Gurugram is progressing rapidly, with completion expected by mid-2028. Similarly, work on Towers 4 and 5 at Downtown Chennai is ongoing and scheduled for completion by early 2028.

On Friday, DLF’s shares closed 2.64 per cent lower at Rs 756.20 on the stock exchanges.