Slide 1: DLF Limited Q1FY26 Results Presentation
DLF Limited Q1FY26 Results Presentation DLF Privana North, Sector 76-77, Gurugram Artistic impression; not an actual image1
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking statements regarding DLF’s business prospects and business profitability. These statements are based on current expectations, assumptions, and projections about future events and are subject to a variety of risks and uncertainties, which
Slide 3: Presentation Agenda
Presentation Agenda S.No Section I. Key Highlights : Q1FY26 II. DLF Group Overview This is a sample text. III. Development Business : Business Update IV. Annuity Business : Business Update V. DLF Limited : Financial Update VII. DLF Cyber City Developers Limited [DCCDL] : Financial Update 3
Slide 4: Key Highlights: Quarter gone by [Q1FY26]
Key Highlights : Quarter gone by [Q1FY26] ▪ New Sales bookings at Rs 11,425 crore, y-o-y growth of 78%; led by another successful launch in the DLF Privana ecosystem ▪ Collections at Rs 2,794 crore ; Net Cash Surplus generation at Rs 1,131 crore ▪ Gross cash balance at Rs 10,429 crore ✓ includes Rer
Slide 5: DLF Group – Business Overview
DLF Group – Business Overview DLF Group Development Business Annuity Business ❑ Development & Sale of Residential/Commercial: ❑ Development & Leasing of Offices ▪ High-rise condominiums ❑ Development & Leasing of Retail Malls ▪ Low-rise independent floors ❑ Asset Management [CAM/Services business] ▪
Slide 6: Strong Fundamentals
Strong Fundamentals ▪ We have established a strong and diversified business: ✓ Development business delivering high margins and strong cash flows ✓ Rental business providing consistently growing income streams ✓ Hospitality business along with Services/Asset management complementing both businesses
Slide 7: DLF Group: Financial Overview [on Reported basis]
DLF Group : Financial Overview [on Reported basis] DLF Limited1 Revenue EBITDA PAT Rs 8,996 cr Rs 3,111 cr Rs 4,357 cr ₹ 7,266 cr ₹ 2,514 cr ₹ 3,711 cr ₹ 6,958 cr ₹ 2,655 cr ₹ 6,012 cr ₹ 2,043 cr ₹ 2,733 cr ₹ 2,053 cr ₹ 2,981 cr ₹ 1,730 cr ₹ 597 cr ₹ 628 cr ₹ 646 cr ₹ 766 cr FY23 FY24 FY25 Q1FY26 FY
Slide 8: Development Business: Business Update
Development Business : Business Update DLF One Midtown, Delhi 8
Slide 9: Development Business – A strong growth engine
Development Business – A strong growth engine 1 High Quality ▪ High quality land bank at established locations; significant upside from TOD/TDR policy Land Bank ▪ Sustained growth from existing land bank; no dependency on incremental acquisitions 2 ▪ Consistent capital appreciation for customers; at
Slide 10: Development Business – Delivering consistent performance
Development Business – Delivering consistent performance New Sales Bookings Embedded Gross Margins from Sales Booked Rs 21,223 cr 61% ₹ 14,819 cr 40% ₹ 12,875 37% cr ₹ 15,058 ₹ 14,778 39% cr cr ₹ 11,425 cr ₹ 5,600 ₹ 5,600 ₹ 6,404 ₹ 4,475 cr cr cr cr FY23 FY24 FY25 Q1FY26 FY23 FY24 FY25 Q1FY26 Sustai
Slide 11: New Products: Launch Pipeline [Medium-Term]
New Products : Launch Pipeline [Medium-Term] Planned Launches Launched Launched To Be Launched Project Segment [FY 25 onwards] [till FY25] [Q1FY26] [Medium Term] Size Sales Potential Size Sales Potential Size Sales Potential Size Sales Potential (~ in msf) (~ in Rs crore) (~ in msf) (~ in Rs crore)
Slide 12: Surplus Cash Potential [from Launched Products till 30.06.2025]
Surplus Cash Potential [from Launched Products till 30.06.2025] Particulars Amount in Rs crore Cash Balance in RERA 70% accounts 7,782 Other Cash Balances 2,647 Sub-Total : Cash Balance (A) 10,429 Receivables from Projects sold 37,220 Total Pending Cost to Complete for all Launched projects (23,500)
Slide 13: Gross Margin Potential [as on 30.06.2025]
Gross Margin Potential1 [as on 30.06.2025] Residual Gross Margins from Sales done till 30.06.2025 : Rs 24,500 crore ~ Rs 4,475 ~ (Rs 524 crore) Crore ~ Rs 15,750 Crore ~ Rs 40,250 ~ Rs 24,500 crore crore ~ Rs 20,550 Crore Margin potential from Residual Gross Margins Margin addition Residual Gross Ma
Slide 14: Projects Summary [as on 30.06.2025]
Projects Summary [as on 30.06.2025] All figures in Rs crore Sales Revenue recognized from Balance Revenue to be recognized Balance Margins yet to be Project Booked Sales booked from Sales booked recognised The Camellias 11,985 11,781 204 176 The Dahlias 14,194 - 14,194 9,797 Independent Floors, Guru
Slide 15: High Quality Land Bank
High Quality Land Bank Development Projects Projects Balance Potential Location Potential1 [revised estimates including [revised estimates including [Under execution] [Launch Pipeline] TOD/TDR potential] TOD/TDR potential] DLF 5 24 4.6 - 20 DLF City+ 22 4.5 12 6 New Gurugram 89 13 5 71 Gurugram 135
Slide 16: Annuity Business: Business Update
Annuity Business : Business Update DLF CYBERPARK, Gurugram 16
Slide 17: Annuity Business – A steady compounder
Annuity Business – A steady compounder 1 Operational Portfolio ▪ Strong operational portfolio [~46 msf] of rental assets; operating at high occupancy levels [94%] + Development Potential ▪ High quality owned land bank available for sustainable long-term growth 2 ▪ Strategically located, large & scal
Slide 18: Strong & diversified Annuity Business
Strong & diversified Annuity Business Services & Asset ~42 msf ~4.2 msf Hospitality Management Operational Portfolio[Offices] Operational Portfolio[Retail] [Hotels / Clubs] Across the Portfolio Occupancy : 94% Occupancy : 98% One of the largest organically grown Annuity Platform; High occupancy at ~
Slide 19: Operational Rental Portfolio Snapshot: Occupancy at 94%
Operational Rental Portfolio Snapshot : Occupancy at 94% Operational Leasable Area Leased Area Vacant Area Leased Area Weighted Avg GAV1 Portfolio (in msf) (in msf) (in msf) (%) Rental Rate [psf] [in Rs crore] Offices : Non-Sez 25 24.5 0.4 98% 117 43,709 DCCDL 23.2 22.8 0.3 99% 117 40,581 DLF 1.8 1.
Slide 20: Annuity Business – Strong pipeline to drive growth
Annuity Business – Strong pipeline to drive growth Offices : ~20 msf Retail : ~ 7.4 msf Project Nearing Pipeline Ownership Project Nearing Pipeline Ownership Completion Completion Area (in msf) Area (in Area (in msf) Area (in msf) msf) DLF Downtown, Gurugram 6.3 DCCDL DLF Downtown, Gurugram 2 DCCDL
Slide 21: High Quality Land Bank
High Quality Land Bank Location Operational Portfolio Projects Projects Balance Potential [Existing] [nearing completion ] [Planned pipeline] [incl. TOD/TDR potential] DLF DCCDL DLF DCCDL DLF DCCDL DLF DCCDL DLF 5 0.6 0.8 0.5 - 2 - 5 - DLF City + 0.1 24.1 3.1 - - 8.3 10 13 New Gurugram - - - - 3 - 2
Slide 22: Commitment to Sustainability
Commitment to Sustainability LEED Platinum Wiredscore – Certification for Digital Connectivity Quarter Update – Emporio, OHC, THC, Plaza Tower, Galaxy Tower Quarter Update - DLF Cyber Park, Tower 1 & 2 at DLF achieved the renewal of LEED Platinum Certification Downtown, Chennai have achieved Wiredsc
Slide 23: DLF Limited Financial Update
DLF Limited Financial Update DLF Arbour, Sector-63, Gurugram Artistic impression; not an actual image23
Slide 24: Results highlights – Q1FY26
Results highlights – Q1FY26 New Sales Booking Collections Operating Cash Surplus1 Rs 11,425 crore Rs 2,794 crore Rs 1,420 crore Credit Rating PAT Cash position Net Cash positive ICRA AA/Positive Rs 766 crore CRISIL AA/Positive 19% y-o-y growth Rs 7,980 crore Healthy Operating Cash Surplus resulting
Slide 25: Consolidated Results: Q1FY26 Revenue at Rs 2,981 cr; PAT at Rs 766 cr
Consolidated Results : Q1FY26 Revenue at Rs 2,981 cr; PAT at Rs 766 cr : y-o-y growth of 19% Particulars Q1FY26 Q4FY25 Q-o-Q Q1FY25 Y-o-Y Revenue from operations# 2,717 3,128 (13%) 1,362 99% Cost of Sales 1,948 1,652 18% 662 194% Gross Margin 768 1,476 (48%) 701 10% Gross Margin% 28% 47% 51% Other i
Slide 26: Consolidated Cash Flow: Net Cash Surplus generation at Rs 1,131 crore
Consolidated Cash Flow : Net Cash Surplus generation at Rs 1,131 crore Particulars FY25 Q1FY25 Q4FY25 Q1FY26 Inflow •Collection from Sales 11,396 2,888 3,268 2,711 • Rental Inflow 378 80 52 83 Sub-Total Inflow 11,773 2,968 3,320 2,794 Outflow •Construction 2,259 424 724 742 •Govt. Approval fee/Other
Slide 27: Net Cash Position: improved to Rs 7,980 crore
Net Cash Position : Net Cash position further improved to Rs 7,980 crore Particulars Q1FY25 Q4FY25 Q1FY26 Gross opening debt (4,536) (4,434) (3814) Debt repaid during quarter 277 620 1,364 New Borrowing during Qtr. - Closing Debt (4,259) (3,814) (2,450) Clear Cash in Hand 2,221 2,471 2,647 RERA 70%
Slide 28: Consolidated Balance Sheet Abstract
Consolidated Balance Sheet Abstract In Rs crore Particulars As on 30.06.2025 As on 31.03.2025 Non-Current Assets 29,083 28,270 Current Assets 39,710 41,205 Total Assets 68,793 69,475 Equity/Reserves & Surplus 43,316 42,550 Non-current Liabilities 4,311 4,692 Current Liabilities 21,165 22,233 Total L
Slide 29: DCCDL: Financial Update
DCCDL : Financial Update CONFIDENTIAL_FnA DLF Cybercity, Gurugram 29
Slide 30: Result Highlights – Q1FY26
Result Highlights – Q1FY26 Rental Income EBITDA PAT Rs 1,326 crore 15% y-o-y growth Rs 1,356 crore Rs 593 crore 14% y-o-y growth 26% y-o-y growth Operational Net Debt Rating Portfolio Rs 17,287 crore 44 msf Rating Upgraded ICRA AAA/Stable Net Debt to EBITDA at 3.2x OC received for DLF CRISIL AAA/Sta
Slide 31: DCCDL (Consolidated) Q1FY26: Revenue at Rs 1,739 crore; PAT at Rs 593 crore
DCCDL (Consolidated) Q1FY26 : Revenue at Rs 1,739 crore; PAT at Rs 593 crore; y-o-y growth of 26% Particulars Q1FY26 Q4FY25 Q-o-Q Q1FY25 Y-o-Y Rental Income Office 1,102 1,002 10% 942 17% Retail 224 221 1% 210 7% Service & Other Operating Income 402 396 1% 384 5% Other Income 11 18 (37%) 17 (31%) To
Slide 32: DCCDL (Consolidated): Q1FY26 Cash Flow Abstract
DCCDL (Consolidated): Q1FY26 Cash Flow Abstract Particulars FY25 Q1FY25 Q4FY25 Q1FY26 Operating Cash flow before Interest & tax 5,046 1,188 1,183 1,321 Interest Expense (Net) (1,473) (340) (379) (413) Tax (net) (476) (127) (86) (148) Operating Cash flow after Interest & tax 3,097 721 718 760 Capex (
Slide 33: DCCDL (Consolidated): Balance Sheet Abstract
DCCDL (Consolidated): Balance Sheet Abstract Particulars As on 30.06.2025 As on 31.03.2025 Non-Current Assets 31,802 30,621 Current Assets 1,388 1,215 Total Assets 32,469 31,836 Equity/Reserves & Surplus 8,820 8,227 Non-current Liabilities 18,563 18,790 Current Liabilities 5,086 4,819 Total Liabilit
Slide 34: DCCDL (Consolidated): Debt Update – Q1FY26
DCCDL (Consolidated): Debt Update – Q1FY26 Net Debt to EBITDA2 : 3.2 x Net Debt Rs 17,287 crore 5.5 4.5 4.0 3.5 3.2 GAV1 Rs 85,127 crore FY22 FY23 FY24 FY25 Q1FY26 Net Debt to GAV: 20% CRISIL AAA/Stable Credit Rating ICRA AAA/Stable 30% 26% 23% Interest Rate 7.67% 21% 20% FY22 FY23 FY24 FY25 Q1FY26
Slide 35: DLF Golf & Country Club, DLF 5, Gurugram
DLF Golf & Country Club, DLF 5, Gurugram 35