DLF adds 7.48-acre Gurugram parcel, taking Sector 61 site to 36 acres
DLF has entered into a collaboration for a 7.48-acre land parcel in Sector 61, Gurugram, expanding its contiguous holding to around 36 acres. The transaction is expected to conclude by Q4 FY27. The company also outlined upcoming residential launches in Mumbai and DLF Phase 4, and provided updates on
DLF has entered into a collaboration for a 7.48-acre land parcel in Sector 61, Gurugram, contiguous to land secured through an earlier transaction, taking the overall site to approximately 36 acres, the company's management said during its Q2 FY27 earnings call. The company expects to conclude the transaction by Q4 FY27. Management said the additional parcel has increased the development potential of the site, although it did not disclose the proposed project's saleable area, gross development value or launch timeline.
Around two years ago, the company had undertaken a transaction involving approximately 28.5 acres through the acquisition of bonds. About 19.5 acres had been conveyed to the company earlier, while encumbrances over another 7.06-acre portion were removed during Q2 FY27, following which the related payment was completed. The fresh 7.48-acre collaboration is also linked to a lender-led resolution involving a delinquent borrower, with proceeds from the transaction to be paid to the lenders, management said.
DLF is preparing a residential project in Mumbai for launch during Q3 FY27, subject to regulatory approvals. The company is also targeting the launch of an unnamed luxury-plus residential project in DLF Phase 4, Gurugram, during Q4 FY27. Management clarified that the project has not yet been formally named and said it would be positioned in line with the company's recent luxury developments.
During Q2 FY27, the company completed the sale of its retirement housing project, The Aureva, which had total sales potential of about ₹1,985 crore. Approximately ₹1,900 crore was recorded during the quarter. In the rental business, DLF expects Promenade Goa to become operational during the current financial year, around the Christmas-New Year period.
At Downtown Chennai, Blocks 4 and 5, with a combined area of approximately 3.6 million sq ft, are under construction and are expected to become operational during the next calendar year. For Downtown Gurugram, the company is working on Blocks 5, 6, 7 and 8 along with the Mall of India Gurugram. Management indicated that Block 7 is expected next year, while most of the wider Downtown Gurugram pipeline is scheduled to become operational between FY29 and FY30. The Mall of India Gurugram is targeted for completion in FY30.
DLF Cyber City Developers' exit rental is expected to be close to ₹6,800 crore, according to management. Separately, the company's directly owned rental portfolio could reach a quarterly exit rental run rate of approximately ₹175-180 crore, translating into around ₹750 crore on an annualised basis, excluding Atrium Place.
In Q2 FY27, DLF recorded new sales bookings of approximately ₹3,800 crore, while collections stood at ₹2,780 crore. Operating cash flow was approximately ₹1,858 crore, and the company's net cash position stood at about ₹15,100 crore, despite a dividend payout of close to ₹1,980 crore during the quarter. Its rental portfolio stood at around 50 million sq ft, with occupancy of 96 per cent by area and 97 per cent by value. Consolidated revenue stood at ₹2,298 crore, including a one-time fair-valuation gain of ₹738 crore. EBITDA was ₹1,060 crore and net profit exceeded ₹1,300 crore. DLF Cyber City Developers reported quarterly revenue of ₹2,014 crore, EBITDA of ₹1,537 crore and net profit exceeding ₹750 crore.
