Slide 1: Exchange cover letter: Schedule of Earnings Call
DLF LIMITED DLF Gateway Tower, R Block, DLF City Phase – III, Gurugram – 122 002, Haryana (India) Tel.: (+91-124) 4396000, investor-relations@dlf.in 25th October 2024 The General Manager The Vice-President Dept. of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaz
Slide 2: DLF Limited Q2FY25 Results Presentation
DLF Limited Q2FY25 Results Presentation Atrium Place, Gurugram Artistic impression; not an actual image
Slide 3: Agenda
DLF Emporio, New Delhi AGENDA 01 Group Overview DLF Limited 02 Business Update DCCDL 03 Business Update
Slide 4: DLF Group – Business Overview
DLF Group – Business Overview Residential Offices Retail Other Business Business Apartments/Plotted/ Cyber Cities/Cyber Parks/ Service & Facility IT SEZs/ Management/Hospitality Townships/Low-rise Commercial Parks 78 180 ~126 msf Track ~351 msf Years of experience in real Real estate projects Area d
Slide 5: DLF Group – Overview
DLF Group – Overview DLF Group Development Business Rental Business Development & Sale of Residential/Commercial: Development & Leasing of Commercial projects: ▪ High-rise condominiums ▪ Cyber cities ▪ Low-rise independent floors ▪ IT Parks / IT SEZs ▪ Plotted development ▪ Corporate Parks ▪ Shop-cu
Slide 6: Development Business [Devco] Overview
❑ Unique business combination offering: ✓ quality products to customers along with well laid-out infrastructure ✓ Focused approach towards building sustainable developments ✓ High quality fully-paid up land bank at low costs leading to consistent healthy margin accretion Development Business ❑ Demon
Slide 7: Devco
Devco Goal: Scaling up our offerings; developing margin accretive products; consistent cash flow generation New Sales Bookings ~ Gross Margins(estimated) from New Sales Bookings [FY21 – FY24] [FY21 – FY24] CAGR : 53% CAGR : 69% ₹ 15,058 cr ₹ 14,778 cr ₹ 5,600 cr ₹ 5,600 cr ₹ 3,940 cr 37% 40% 38% ₹ 7
Slide 8: Devco Launch Calendar: Strong pipeline of New Products
Devco Launch Calendar : Strong pipeline of New Products Planned Launches Planned Beyond FY 25 Project [Medium Term] FY 25 [Medium Term] Sales Potential Size Sales Potential Size Sales Potential Size (~ in msf) (~ in Rs crore) (~ in msf) (~ in Rs crore) (~ in msf) (~ in Rs crore) Super-Luxury 5.5 27,
Slide 9: Rental Business [Rentco] Overview
❑ One of the largest organically grown platform offering both office & retail developments ❑ Presence across multiple established locations offering geographical diversification ❑ Demonstrated track record of creating globally competitive large & scalable integrated Rental Business campuses offering
Slide 10: Rentco
Rentco Goal: Double digit rental growth through organic growth and New developments Portfolio Area Rental Income1 [FY21 – FY24] [FY21 – FY24] CAGR :7% CAGR : 12% 41.8 msf 45.0 msf ₹ 4,831 cr 36.3 msf 40.2 msf ₹ 4,358 cr ₹ 3,409 cr ₹ 3,687 cr FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Operating Cash Sur
Slide 11: Rentco: Significant ramp-up in New Developments
Rentco : Significant ramp-up in New Developments 19 msf under development; ~ 7 msf completion in FY25 Project1 Current Status ▪ Integrated Mixed-use project totaling to ~ 12 msf ; balance phases planned to commence within this fiscal: ✓ Block-4 [~2 msf] : rent commencement from FY26 DLF Downtown, Gu
Slide 12: DLF Group – Key Business Priorities
DLF Group– Key Business Priorities Maintaining Leadership position by delivering GOAL Consistent, Competitive & Profitable Growth Value Creation Levers Identified Plan/Actions 1 ▪ Continue scaling-up our product offerings; developing margin accretive products Development ▪ Tapping multiple geographi
Slide 13: DLF Limited Business Update
DLF Limited Business Update Independent Floors, DLF City, Gurugram
Slide 14: New Sales Bookings
New Sales Bookings Q2FY25 : Rs 692 cr; H1FY25 : INR 7,094 crore New Sales Bookings[Q2FY25 vs Q2FY24] New Sales Bookings[H1FY25 vs H1FY24] ₹ 7,094 cr ₹ 2,228 cr ₹ 4,268 cr ₹ 692 cr Q2FY24 Q2FY25 H1FY24 H1FY25 ❑ Moderation in sales on account of delay in receiving requisite approvals for New Product l
Slide 15: Strategically located land bank at low carrying cost
Development Potential Strategically located land bank at low carrying cost; will enable steady & sustainable growth Location Development Potential1 (in msf) Gurgaon 112 DLF 5/DLF City 24 New Gurgaon 88 Delhi Metropolitan Region 13 Chennai 10 Hyderabad 3 Chandigarh Tri-City Region 16 Kolkata 2 Mahara
Slide 16: Summary: Launched Products (as on 30.09.2024)
Summary: Launched Products (as on 30.09.2024) All figures in Rs crore Revenue Balance Revenue Balance Balance Balance Project Sales Booking recognized till date to be recognized Margin1 Receivable Inventory The Camellias 11,618 10,908 710 549 350 501 Independent Floors, Gurugram 7,762 3,187 4,576 1,
Slide 17: Residual Gross Margin as on 30.09.2024
Residual Gross Margin as on 30.09.2024 Well poised for healthy margin recognition across next few years Gross Margin to be Gross Margin to be Gross Margin Movement recognized recognized Project from sales done till from Inventory as on 30th Sep-2024 30th Sep-2024 Completed Inventory ₹ 14,173 cr ₹ 13
Slide 18: Results highlights – Q2FY25
Results highlights – Q2FY25 New Sales bookings steady; Healthy Cash generation from operations New Sales Booking Collections Operating Cashflow Rs 692 crore Rs 2,370 crore Rs 1,211 crore Credit Rating PAT Cash position Normalized PAT: ICRA AA/Stable Rs 781 crore Net Cash positive Reported PAT Rs 2,8
Slide 19: Consolidated Results – Q2FY25
Consolidated Results – Q2FY25 Revenue at Rs 2,181 crore; PAT at Rs 1,387 crore ❑ Revenue stood at Rs 2,181 crore, up by 48% ❑ Gross margins at 45% ❑ EBITDA at Rs 708 crore; up by 20% ❑ PAT at Rs 1,387 crore, growth of 121%; includes reversal of deferred tax liabilities(Rs 606 cr) pursuant to change
Slide 20: Consolidated Profit & Loss Q2FY25
Consolidated Profit & Loss Q2FY25 Revenue at Rs 2,181 crore; PAT at Rs 1,387 crore Particulars Q2FY25 Q1FY25 Q-o-Q Q2FY24 Y-o-Y Revenue from operations 1,975 1,362 45% 1,348 47% Cost of Sales 1,080 662 63% 580 86% Gross Margin 895 701 28% 768 17% Gross Margin% 45% 51% 57% Other income 206 367 (44%)
Slide 21: Consolidated Cash Flow
Consolidated Cash Flow Strong operating surplus generation during the period; Q2FY25 : Rs 1,211 cr; H1FY25: Rs 3,060 Particulars FY24 FY25 FY25 FY25 12M 6M Q1 Q2 Inflow •Collection from Sales 8,301 5,140 2,888 2,252 • Rental Inflow 354 197 80 118 Sub-Total Inflow 8,654 5,337 2,968 2,370 Outflow •Con
Slide 22: Net Cash Position – Q2FY25
Net Cash Position – Q2FY25 Net Cash at Rs 2,831 crore despite higher dividend payout Interest Rate Movement Particulars Q4FY24 Q1FY25 Q2FY25 8.18% 8.19% 8.30% 8.30% Gross opening debt (2,948) (4,536) (4,258) 7.03% Debt repaid during quarter - 277 271 FY22 Exit FY23 Exit FY24 Exit Q1FY25 Exit Q2FY25
Slide 23: Consolidated Balance Sheet Abstract
Consolidated Balance Sheet Abstract Particulars As on 30.09.2024 As on 31.03.2024 Non-Current Assets 28,572 27,703 Current Assets 34,007 32,559 Total Assets 62,579 60,262 Equity/Reserves & Surplus 40,227 39,432 Non-current Liabilities 6,083 6,690 Current Liabilities 16,268 14,141 Total Liabilities 6
Slide 24: DCCDL: Business Update
DCCDL : Business Update DLF Cybercity, Gurugram
Slide 25: Commitment to Sustainability
Commitment to Sustainability LEED Platinum ❖ Currently, 41.23 M sft are LEED Platinum Certified for Operations and Maintenance. DT 3 and Block-12 in Chennai undergoing certification. LEED Zero Water ❖ DLF has been recognized as the world leader in LEED Zero water with 40.2 M sft certified. GRESB* ❖
Slide 26: Portfolio Snapshot: Occupancy at 93%
Portfolio Snapshot: Occupancy at 93% Leasable Area Leased Area Vacant Area Weighted Average Rental rate WALE GAV - Jun'24 Building % Leased Area (in msf) (in msf) (in msf) (in Rs psf) (months) (in Rs crore) Cyber City 11.6 11.4 0.2 98% 112 65 19,971 Cyber Park 2.9 2.9 0.0 99% 118 68 5,613 One Horizo
Slide 27: Result Highlights – Q2FY25
Result Highlights – Q2FY25 Rental income grew by 10% Y-o-Y; driven by steady growth across portfolio Net Debt / Rating Rental Income PAT Rs 17,203 crore Net Debt to GAV at 0.23 Rs 1,185 crore Rs 521 crore Rating ICRA AA+/Stable CRISIL AA+/Stable Operational Gross Leasing Sustainability Portfolio DLF
Slide 28: DCCDL (Consolidated): Q2FY25 Results
DCCDL (Consolidated): Q2FY25 Results Revenue increased by 13% Y-o-Y; PAT at Rs 521 crore; 25% growth ❑ Revenue at Rs 1,653 crore, Y-o-Y increase of 13% ✓ Office rentals witnessing steady growth 12% Y-o-Y; ✓ Retail revenues continue to deliver growth of 4% ✓ Services/other operating income grew by 13
Slide 29: DCCDL (Consolidated): Financial Summary - Q2FY25
DCCDL (Consolidated): Financial Summary - Q2FY25 Revenue up by 13%; PAT at Rs 521 crore; 25% Y-o-Y growth Particulars Q2FY25 Q1FY25 Q-o-Q Q2FY24 Y-o-Y Rental Income Office 968 942 3% 861 12% Retail 217 210 3% 208 4% Service & Other Operating Income 421 384 10% 374 13% Other Income 47 17 184% 20 137%
Slide 30: DCCDL (Consolidated): Cash Flow Abstract
DCCDL (Consolidated): Cash Flow Abstract Consistent cash flow from operations; Q2FY25 : Rs 945 cr Particulars FY24 H1FY25 Q1FY25 Q2FY25 Operating Cash flow before Interest & 4,659 2,600 1,188 1,412 tax Interest Expense (Net) (1,469) (728) (340) (388) Tax (net) (464) (205) (127) (77) Free Cash flow a
Slide 31: DCCDL (Consolidated): Balance Sheet Abstract
DCCDL (Consolidated): Balance Sheet Abstract Particulars As on 30.09.2024 As on 31.03.2024 Non-Current Assets 30,318 29,833 Current Assets 1,365 1,322 Total Assets 31,683 31,155 Equity/Reserves & Surplus 8,131 7,245 Non-current Liabilities 17,975 18,745 Current Liabilities 5,577 5,165 Total Liabilit
Slide 32: DCCDL (Consolidated): Debt Update – Q2FY25
DCCDL (Consolidated): Debt Update – Q2FY25 Net Debt to EBITDA: 3.5 x Portfolio growth + capex from internal accruals leading to significant improvement 5.6 5.5 4.5 Net Debt Rs 17,203 crore 4.0 3.5 GAV1 Rs 77,892 crore FY 21 FY 22 FY 23 FY 24 H1FY25 Net Debt to GAV: 23% Value enhancement from new pro
Slide 33: Disclaimer
Disclaimer This presentation contains certain forward-looking statement concerning DLF’s future business prospects and business profitability, which are subject to a number of risks and uncertainties & the actual results could materially differ from those in such forward-looking statements. The risk
Slide 34: DLF Golf & Country Club, DLF 5, Gurugram
DLF Golf & Country Club, DLF 5, Gurugram 33