Slide 1: Q1FY23 Results Presentation
DLF Downtown, Gurugram Q1FY23 Results Presentation 1
Slide 2: Agenda
AGENDA DLF LIMITED: DCCDL: OVERVIEW BUSINESS BUSINESS UPDATE UPDATE 01 02 03 2
Slide 3: Overview: DLF Group
OVERVIEW : DLF Group Residential Offices Retail Other Business Business Apartments/Plotted/ Cyber Cities/Cyber Parks/ Service & Facility IT SEZs/ Management/Hospitality Townships/Low-rise Commercial Parks 75 150+ 330 msf+ 100 msf+ Track Years of experience in Real estate Area developed Deliveries si
Slide 4: Strategy
Strategy Remain committed and confident in delivering our business goals Development Business: Rental Business: Liquidity: Land Bank: Scaling up launches of Continued focus on Core land bank to be Strong Liquidity position: New Products growth through better developed for sustainable Maintai
Slide 5: Growth Drivers
Growth Drivers Uniquely positioned to deliver Sustainable Growth 5 Organization Competitive advantage Low- cost, fully paid-up land bank Capabilities at established locations; 4 Potential sufficient to drive growth without additional Optimal Capital capital outlay Revamped leadership, Allocation
Slide 6: Development Potential
Development Potential Strategically located land bank at low carrying cost; will enable steady & sustainable growth Location Development Potential1 (in msf) Gurgaon 104 DLF 5/DLF City 24 New Gurgaon 81 Delhi Metropolitan Region 13 Chennai 12 Hyderabad 3 Chandigarh Tri-City Region 16 Kolkata 2 Mahara
Slide 7: Development Update – Launch Calendar of 35 msf
Development Update – Launch Calendar of 35 msf Sales potential ~Rs 47,000 crore; Value enhancement (~17%) - driven by price growth Area in msf ~ Project Sales Potential Till FY22 Project Size FY22-23 FY23-24 Beyond FY24 ( ~ in Rs crore) 18M (~ in msf) DLF - GIC Residential JV, 8 17,500 2.1 - 2.0 4.0
Slide 8: New Sale bookings of Rs 2,040 crore in the quarter
New Sale bookings of Rs 2,040 crore in the quarter Sustained demand across segments Sales booking trend ₹ 2,729 cr ₹ 2,040 cr 101% ₹ 2,040 cr ₹ 2,018 cr ₹ 1,512 cr ₹ 1,014 cr ₹ 1,014 cr Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q1FY22 Q1FY23 Q1FY23 Highlights: Area sold ~ 1.2 msf ; 75% sale bookings from N
Slide 9: Residual Gross Margin as on 30.06.2022
Residual Gross Margin as on 30.06.2022 New Products to lead value accretion; Gross Margin Gross Margin to be Gross Margin to be Movement Project recognized from sales recognized from Inventory done till 30th June-22 as on 30th June-22 ₹ 7,965 cr ₹ 7,716 cr Completed Inventory Camellias 2,126 1,390 D
Slide 10: Completed Inventory / New Products
Completed Inventory / New Products Q1FY23 Till 30th June-22 Receivables/Completed Inventory Total Revenue Sales Sales Sales Sales Balance Inventory Total Area recognized till Area Project Booking Booking Booking Booking Receivable Value (msf) date (in msf) (in msf) (in Rs crore) (in msf) (in Rs cror
Slide 11: DLF Limited: Business Update
DLF Limited: Business Update Artist’s impression; not an actual image ONE Midtown, New Delhi
Slide 12: Outlook
Outlook Sustained momentum in housing demand; New supply picking up Luxury segment & larger homes continue to be the preferred choice Industry Rising mortgage rates may marginally impact sentiments, however, should not materially impact affordability Calibrated new launches across segment an
Slide 13: Highlights – Q1FY23
Highlights – Q1FY23 Sustained business performance New Sales Surplus Booking Collections Cashflow Rs 421 crore Rs 2,040 crore Rs 1,072 crore Consistent Surplus Cash generation ESG Rating Credit Rating Net Debt DJSI ICRA AA-/Stable Rs 2,259 crore Included in the Index in Reduction in Net Debt by Rs T
Slide 14: Q1FY23 Results
Q1FY23 Results Revenue at Rs 1,516 crore; Y-o-Y growth of 22%; PAT at Rs 470 crore Y-o-Y growth of 39% Revenue stood at Rs 1,516 crore; reflecting a Y-o-Y increase of 22% Gross margins sustained at 53% EBITDA at Rs 488 crore; marginal drop explained by lower other income, higher fixed cost (la
Slide 15: Consolidated Profit & Loss Q1FY23
Consolidated Profit & Loss Q1FY23 Revenue at Rs 1,516 crore; Y-o-Y growth of 22%; PAT at Rs 470 crore Y-o-Y growth of 39% % Change % Change Particular Q1FY23 Q4FY22 Q1FY23 - Vs Q1FY22 Q1FY23 - Vs Q4FY22 Q1FY22 Income Revenue from operations 1,442 1,547 (7%) 1,140 26% Cost of Sales 672 751 (10%) 531
Slide 16: Consolidated Cash Flow
Consolidated Cash Flow Consistent surplus cash generation from Operations Particulars Q1FY23 Q4FY22 Q1FY22 Inflow •Collection from Sales 991 1,212 622 • Rental Inflow 81 77 13 Sub-Total Inflow 1,072 1,289 635 Outflow •Construction (Net) 197 223 109 •Govt. Approval fee/ Land acquisition/disposal 98 1
Slide 17: Consolidated Balance Sheet Abstract
Consolidated Balance Sheet Abstract Particulars As on 30.06.2022 As on 31.03.2022 Non-Current Assets 28,583 28,413 Current Assets 24,318 24,091 TOTAL ASSETS 52,901 52,503 Equity 36,852 36,382 Non-Current Liabilities 5,555 5,718 Current Liabilities 10,493 10,404 TOTAL LIABILITIES 52,901 52,503 17
Slide 18: Debt Update – Q1FY23
Debt Update – Q1FY23 Net Debt reduction of Rs 421 crore from operating cash flows Sources Particulars Q1FY22 Q4FY22 Q1FY23 Gross opening debt 6,510 4,755 3,900 Banks, ₹ 3,098 cr, 83% Diversified Less : Debt repaid during quarter (477) (855) (172) sources of funding HDFC/Others , ₹ 131 cr, 4% Add : N
Slide 19: Debt Management
Debt Management Committed to further debt reduction in medium term Particulars Amount (in Rs crore) Net Debt as on 30.06.2022 (2,259) Receivables (including New Products) 4,627 Construction Payables (including New Products) (2,183) Capex (Rental assets ~ 2msf) (911) Residual Net Debt (727) Completed
Slide 20: Development Update
Development Update ONE Midtown, New Delhi 20
Slide 21: Development Update – DLF City Floors
Development Update – DLF City Floors Artist’s impression; Not an actual image Actual Status Actual Status City Floors, DLF Phase 3 City Floors, DLF Phase 3 21
Slide 22: Development Update
Development Update DLF Tech Park, NOIDA Amex Campus ,Sector -74, New Gurgaon Actual Status Artist’s impression; Not an actual image Artist’s impression; Not an actual image DLF Tech Park, NOIDA Actual Status Amex Campus, Actual Status Sector -74,New Gurgaon 22
Slide 23: Rental Portfolio Snapshot (DLF Limited) – Q1FY23
Rental Portfolio Snapshot (DLF Limited) – Q1FY23 Weighted Leasable Leased Vacant Area Average Rental WALE GAV1 Area Area Building % Leased Area rate (in msf) (in msf) (in msf) (in Rs psf) (months) (in Rs crore) DLF Center, Delhi 0.17 0.14 0.03 82% 331 55 1,034 DLF5 0.61 0.61 0.0 100% 42 19 801 IT Se
Slide 24: DCCDL Business Update
DCCDL Business Update 24 DLF Avenue, New Delhi
Slide 25: Outlook
Outlook Office Occupancy improving; Rebound in retail continues The global business sentiment has been adversely impacted due to inflation and Russia-Ukraine war. With crude oil & commodity prices exhibiting downturn, the resultant inflation and interest rates hike could Macro moderate; the emer
Slide 26: Maintaining Leadership position in Safety/Sustainability
Maintaining Leadership position in Safety/Sustainability LEED for Cities & Communities in Platinum Category” from USGBC; first developer in the world to achieve this 2021: ~38.9 msf of our portfolio is LEED* ® Platinum certified by the US Green Building Council – The highest rating possible for any
Slide 27: Portfolio Snapshot – Q1FY23
Portfolio Snapshot – Q1FY23 Office occupancy inching up steadily; exited at 88% Weighted Average Leasable Area1 Leased Area Vacant Area % Leased WALE GAV Building Rental rate Area (in msf) (in msf) (in msf) (in Rs psf) (months) (in Rs crore) Cyber City 11.6 10.3 1.3 89 106 69 16,619 Cyber Sez 3.3 2.
Slide 28: Portfolio - Tenant Mix
Portfolio - Tenant Mix Well diversified & balanced portfolio with lower concentration risk Offices Retail Tenant Mix Tenant Mix Q1FY23 (based on revenue) Q1FY23 (based on leased area) 21% 13% 45% 8% 6% 2% 5% Apparels/Accessories F&B Anchor Misc. Sports Entertainment 28
Slide 29: Result Highlights – Q1FY23
Result Highlights – Q1FY23 Rental income grew by 20% Y-o-Y; driven by strong rebound in Retail Operational Rental Revenue Gross Leasing Portfolio Operational portfolio: 37.9 msf Rs 926 crore In addition, OC received for DLF 1.2 msf Downtown, Gurugram (~ 1.7 msf) Net Debt Rating Sustainability DLF Cy
Slide 30: Development Update
Development Update New Product development being ramped up & remains on track ~ Project Project Current Status Latest Update Size Phase-I (~1.7 msf); OC received Phase-I: office space Downtown, ~12 msf Phase-II (~2 msf)- construction fully leased; amenity Gurugram commenced area under leasing
Slide 31: Development Update
Development Update DLF Downtown, Gurugram DLF Downtown, Chennai Artist’s impression; Not an actual image Artist’s impression; Not an actual image Actual Status Actual Status 31
Slide 32: DCCDL: Q1FY23 Results
DCCDL : Q1FY23 Results Revenue increased by 21% Y-o-Y due to higher Retail revenues; PAT at Rs 323 crore; 60% growth Revenue at Rs 1,260 crore, Y-o-Y increase of 21% Office rentals witnessing steady growth 4% Y-o-Y; Retail revenues grew by 293% driven by strong rebound and low base effect EB
Slide 33: DCCDL Consolidated Financial Summary - Q1FY23
DCCDL Consolidated Financial Summary - Q1FY23 PAT at Rs 323 crore; 60% Y-o-Y growth driven by growth in retail revenues % change % change Particulars Q1FY23 Q4FY22 Q1FY22 Q-o-Q Y-o-Y Rental Income Office 759 744 2% 729 4% Retail 167 124 34% 42 293% Service & Other Operating Income 299 280 7% 230 30%
Slide 34: DCCDL Consolidated Cash Flow Abstract
DCCDL Consolidated Cash Flow Abstract Particulars Q1FY23 Q4FY22 Q1FY22 Operating Cash flow before Interest & 906 874 687 tax Interest Expense (Net) (294) (335) (346) Tax (net)1 (99) (106) (39) Operating Cash flow after Interest & tax 513 433 302 Capex (278) (272) (190) Net Surplus/Deficit – After Ca
Slide 35: DCCDL Consolidated Balance Sheet Abstract
DCCDL Consolidated Balance Sheet Abstract Particulars As on 30.06.2022 As on 31.03.2022 Non-Current Assets 29,571 29,398 Current Assets 1,587 1,353 Total Assets 31,158 30,751 Equity 6,754 6,431 Non-current Liabilities 19,547 20,529 Current Liabilities 4,857 3,791 Total Liabilities 31,158 30,751 35
Slide 36: Debt Update – Q1FY23
Debt Update – Q1FY23 Net Debt Sources Particulars Q1FY22 Q4FY22 Q1FY23 HDFC/Others , ₹ 7,979 cr, Gross opening debt 20,267 20,558 20,189 40% Diversified Less : Debt repaid during quarter (576) (821) (390) sources of funding Banks, ₹ Add : New Borrowing during Qtr. 699 452 338 9,567 cr, NCD, ₹ 47% 2,
Slide 37: 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 38: The Camellias Club, DLF 5, Gurugram
The Camellias Club, DLF 5, Gurugram