Slide 1: DLF Limited: Q1FY24 Results Presentation
DLF Limited: Q1FY24 RESULTS PRESENTATION DLF Downtown, Gurugram
Slide 2: Agenda
AGENDA 01 Overview 02 DLF Limited: Business Update 03 DCCDL: Business Update Horizon Center, DLF 5, Gurugram
Slide 3: 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 76 158+ 340 msf+ 118 msf+ Track Years of experience in Real estate Area developed Deli
Slide 4: Outlook
Outlook Industry Company Continue to implement our strategy of bringing calibrated Strong macro tailwinds to support industry growth supply in select markets Housing demand expected to exhibit sustained momentum Remain focused on timely execution of launched products Industry consolidation and growi
Slide 5: 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 to scaling-up our product offerings; developing margin accretive products Development ▪ Tapping multiple geogra
Slide 6: Path to Scaling-up
Path to Scaling-up All levers are well placed to drive growth Diversified Launch pipeline Strong Demand Low-cost land bank targeting different Momentum at established locations segments & geographies Strong Enhanced Organizational Balance sheet capabilities Healthy Cash flows Calibrated approach tow
Slide 7: DLF Limited: Business Update
DLF Limited :Business Update The Camellias, DLF 5, Gurugram
Slide 8: New Sales Bookings (Q1FY24)
New Sales Bookings (Q1FY24) Steady & sustained sales momentum from launched inventory Steady Sales Momentum Well diversified Sales mix ▪ The Camellias, DLF 5, Gurugram: ₹ 2,040 cr ₹ 2,040 cr ✓ Rs 564 crore ✓ Sold 13 units ▪ One Midtown, New Delhi: ✓ Rs 659 crore ✓ Steady sales momentum ▪ New Product
Slide 9: 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 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 10: Launch Calendar (New Products)
Launch Calendar (New Products) Continue to focus on value enhancement Launched till Planned Total Beyond Initial Guidance FY 22-23 FY 23-24 Till FY23-24 FY 24 Project Sales Sales Sales Sales Sales Size Size Size Size Size Potential Potential Potential Potential Potential (~ in msf) (~ in msf) (~ in
Slide 11: Product Available for Sales Bookings: ~Rs 25k crore
Product Available for Sales Bookings : ~ Rs 25k crore Planned products Available Inventory (FY24 onwards) Rs 5,625 crore Rs 19,700 crore Completed Inventory Launched Products Planned residential developments across (Till 30th June-23) (Till 30th June-23) Gurugram/Chennai/Chandigarh Tri-city; to be ~
Slide 12: Residual Gross Margin as on 30.06.2023
Residual Gross Margin as on 30.06.2023 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 June-2023 30th June-2023 ₹ 10,753 cr ₹ 10,400 cr Completed
Slide 13: Project Status – as on 30.06.2023
Project Status – as on 30.06.2023 Healthy mix of completed & launched inventory; healthy receivables of 15k crore Total Inventory Balance Revenue to Balance Sales Booking Revenue recognized Project Value be recognized Receivable (in Rs crore) (in Rs crore) (in Rs crore) (in Rs crore) (in Rs crore) T
Slide 14: Project Execution Status: Area Under Development
Project Execution Status : Area Under Development (34 msf by FY24 end) Calibrated scale-up; enhanced focus on timely execution Expected Under Construction New Addition Closing Execution Segment Completions 1st Apr'23 FY 23-24 1st Apr'24 FY 23-24 DevCo Luxury* 13 5 2.8 15 Premium - 5 - 5 Value 4 - 1.
Slide 15: Project Execution Status
Project Execution Status DLF City Floors, Gurugram Garden city Floors, New Gurgaon The Arbour, Sector-63, Gurugram One Midtown, New Delhi 15
Slide 16: Project Execution Status
Project Execution Status The Grove, DLF 5, Gurugram The Valley Gardens, Panchkula Aerial View; Excavation works in full swing (65% completed) Aerial View of the site from proposed 45-meter road . Summit Plaza, DLF 5, Gurrugram Garden City Enclave, Sector-93, New Gurgaon OC received for 136 units; ha
Slide 17: Results highlights – Q1FY24
Results highlights – Q1FY24 Sustained performance across all KPIs New Sales Booking Collections Surplus Cashflow Rs 2,040 crore Rs 1,575 crore Rs 665 crore ESG/Credit Rating PAT Net Debt DJSI Emerging Markets Index Constituent For 3rd consecutive year Rs 528 crore Rs 57 crore Only RE company from In
Slide 18: Consolidated Results – Q1FY24
Consolidated Results – Q1FY24 Revenue at Rs 1,522 crore; PAT at Rs 528 crore Y-o-Y growth of 12% ❑ Revenue stood at Rs 1,522 crore ❑ Gross margins at 52% ❑ EBITDA at Rs 495 crore; a Y-o-Y growth of 1% ❑ PAT at Rs 528 crore, Y-o-Y growth of 12%; ❑ Surplus cash generation of Rs 665 crore Revenue (in R
Slide 19: Consolidated Profit & Loss Q1FY24
Consolidated Profit & Loss Q1FY24 Revenue at Rs 1,522 crore; PAT at Rs 528 crore Y-o-Y growth of 12% % Change % Change Particular Q1FY24 Q4FY23 Q1FY24 - Vs Q1FY23 Q1FY24 - Vs Q4FY23 Q1FY23 Revenue from operations 1,423 1,456 (2%) 1,442 (1%) Cost of Sales 688 622 11% 672 2% Gross Margin 735 834 (12%)
Slide 20: Consolidated Cash Flow
Consolidated Cash Flow Consistent surplus cash generation from Operations Particulars FY23 Q1FY24 Q1 Q2 Q3 Q4 Inflow •Collection from Sales 991 1,152 1,307 1,842 1,472 • Rental Inflow 81 100 91 86 104 Sub-Total Inflow 1,072 1,252 1,398 1,929 1,575 Outflow •Construction 197 298 298 390 315 •Govt. App
Slide 21: Debt Update – Q1FY24
Debt Update – Q1FY24 Lowest levels; reduction of Rs 665 crore Sources Particulars Q1FY23 Q4FY23 Q1FY24 Gross opening debt 3,900 3,840 3,068 Less : Debt repaid during quarter (172) (774) (121) Banks, ₹ 3,012 cr, Add : New Borrowing during Qtr. - - 65 100% Less : Cash in Hand (1,469) (2,345) (2,956) N
Slide 22: Debt Management
Debt Management Leading towards Surplus cash position Particulars1 Amount (in Rs crore) Net Debt as on 30.06.2023 (57) Receivables (including New Products) 13,106 Construction Payables (including New Products) (6,685) Capex (Rental assets ~ 2.5 msf) (876) Surplus Cash position 5,488 Completed Invent
Slide 23: Consolidated Balance Sheet Abstract
Consolidated Balance Sheet Abstract Particulars As on 30.06.2023 As on 31.03.2023 Non-Current Assets 28,464 28,157 Current Assets 26,633 25,771 Total Assets 55,097 53,928 Equity 38,219 37,692 Non-current Liabilities 5,034 5,051 Current Liabilities 11,844 11,185 Total Liabilities 55,097 53,928 23
Slide 24: Rental Portfolio Snapshot (DLF Limited) – Q1FY24
Rental Portfolio Snapshot (DLF Limited) – Q1FY24 Leasable Leased Weighted Vacant Area WALE GAV1 Area Area Average rate Building % Leased Area (in msf) (in msf) (in msf) (in Rs psf) (months) (in Rs crore) DLF Center, Delhi 0.17 0.15 0.01 92% 375 58 1,029 DLF5 0.58 0.58 0.0 100% 46 8 915 IT Sez, Kolka
Slide 25: DCCDL Business Update
DCCDL Business Update 25 DLF Cybercity, Chennai
Slide 26: Leadership in Safety, Sustainability & Wellness (LEED)
Maintaining Leadership position in Safety/Sustainability & Wellness Leadership in Energy and Environmental Design (“LEED”) Journey 2023: U.S. Green Building Council confers DLF’s Rental Business as the World leader in LEED Zero Water. Holds 45 LEED Zero water certifications, highest in the world. Fr
Slide 27: Portfolio Snapshot – Q1FY24
Portfolio Snapshot – Q1FY24 Healthy demand for new assets; Marginal occupancy drop in SEZs; Retail continues with sustained momentum Weighted Average Leasable Area Leased Area Vacant Area % Leased WALE GAV1 Building rate Area (in msf) (in msf) (in msf) (in Rs psf) (months) (in Rs crore) Cyber City 1
Slide 28: Portfolio - Tenant Mix
Portfolio - Tenant Mix Well diversified & balanced portfolio with lower concentration risk Offices: Tenant Mix Retail Tenant Mix Q1FY24 (based on revenue) Q1FY24 (based on leased area) 4% 2% Top 10 Tenants % Top 10 Tenants % 6% Cognizant 4% Cognizant 5% 9% American Express 3% IBM 4% 43% IBM 3% Conce
Slide 29: Development Update
Development Update New Product development remains on track Project Size Project Current Status Latest Updates (in msf) ✓ Phase I (Office): 1.7 msf ✓ Phase I: Completed; rentals commenced ✓ Phase II (Office): 2 msf DLF Downtown, ✓ Phase II: under development; pre-leasing/hard-option ~ 12 ✓ Phase III
Slide 30: Development Update
Development Update Actual Status DLF Downtown, Chennai Artist’s impression; Not an actual image Block 2 & 3,DLF Downtown, Gurugram Actual Status Actual Status DLF Downtown, Chennai Block 4,DLF Downtown, Gurugram 30
Slide 31: Result Highlights – Q1FY24
Result Highlights – Q1FY24 Rental income grew by 13% Y-o-Y; driven by double digit growth across portfolio Operational Rental Revenue1 Gross Leasing Portfolio Rs 1,047 crore 39.6 msf 1.5 msf Net Debt Rating Sustainability DLF Rental Business conferred ICRA AA/Positive Rs 18,328 crore as world leader
Slide 32: DCCDL (Consolidated): Q1FY24 Results
DCCDL (Consolidated): Q1FY24 Results Revenue increased by 12% Y-o-Y due to higher rental revenues; PAT at Rs 391 crore; 21% growth ❑ Revenue at Rs 1,412 crore, Y-o-Y increase of 12% ✓ Office rentals witnessing steady growth 13% Y-o-Y; ✓ Retail revenues grew by 12% driven by sustained momentum ❑ EBIT
Slide 33: DCCDL (Consolidated): Financial Summary - Q1FY24
DCCDL (Consolidated): Financial Summary - Q1FY24 Revenue up by 12%; PAT at Rs 391 crore; 21% Y-o-Y growth % change % change Particulars Q1FY24 Q4FY23 Q1FY23 Q-o-Q Y-o-Y Rental Income Office 856 859 - 759 13% Retail 187 194 (4%) 167 12% Service & Other Operating Income 352 338 4% 299 18% Other Income
Slide 34: DCCDL (Consolidated): Cash Flow Abstract
DCCDL (Consolidated): Cash Flow Abstract Net Surplus generation of Rs 448 crore Particulars FY23 Q4FY23 Q1FY24 Operating Cash flow before Interest & tax 4,103 1,031 1,106 Interest Expense (Net) (1,380) (331) (338) Tax (net)1 (419) (142) (131) Operating Cash flow after Interest & tax 2,304 559 637 Ca
Slide 35: DCCDL (Consolidated): Balance Sheet Abstract
DCCDL (Consolidated): Balance Sheet Abstract Particulars As on 30.06.2023 As on 31.03.2023 Non-Current Assets 29,574 29,408 Current Assets 1,209 2,311 Total Assets 30,783 31,719 Equity 6,818 6,429 Non-current Liabilities 19,778 19,075 Current Liabilities 4,187 6,215 Total Liabilities 30,783 31,719 3
Slide 36: DCCDL (Consolidated): Debt Update – Q1FY24
DCCDL (Consolidated): Debt Update – Q1FY24 Sources Particulars Q1FY23 Q4FY23 Q1FY24 Gross opening debt 20,137 20,486 20,817 Bank , NCD, ` 15,001 crs, ` 4,170 crs, Less : Debt repaid during quarter (1,290) (719) (4,044) 78% 21% Diversified Add : New Borrowing during Qtr. 2,000 1,050 2,522 sources of
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: One Midtown, New Delhi
38 One Midtown, New Delhi Artist’s impression; not an actual image