Dlf Limited · NSE:DLF
Dlf — Q1 FY27 Earnings Presentation
33 slides from Dlf's earnings presentation
Slide 1: DLF Limited Q1FY27 Results Presentation
DLF Limited Q1FY27 Results Presentation DLF Summit Paza, DLF 5, Gurugram 1
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 II. DLF Group Overview This is a sample text. III. Development Business : Business Update IV. Annuity Business : Business Update V. DLF Limited : Financial Update VI. DLF Cyber City Developers Limited [DCCDL] : Financial Update 3
Slide 4: Q1FY27 Key Highlights
Q1FY27 Key Highlights DLF Limited Collections OCF Net Cash Position Sales Bookings INR 2,406 cr INR 1,317 cr INR 15,200 cr High efficiency across all projects Healthy cash generation Strong Balance Sheet INR 657 cr Rera 70% A/c : INR 11,305 cr DCCDL Rental Income Net Debt Credit Rating ICRA AAA/Stab
Slide 5: Strong Financial Performance
5-Year Performance Summary [DLF Limited : FY22 – FY26] PAT (DLF Limited) Net Cash Position ₹ 14,155 cr ₹ 4,408 cr ₹ 1,513 cr -₹ 2,680 cr FY22 FY26 FY22 FY26 Dividend2 (DLF Limited) RoE (DLF Limited) 10% ₹ 1,980 cr ₹ 743 cr 4% FY22 FY26 FY22 FY26 Strong Financial Performance
Slide 6: 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 7: 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 8: DLF Group: Financial Overview [on Reported basis]
DLF Group : Financial Overview [on Reported basis] DLF Limited Revenue EBITDA PAT ₹ 8,996 cr ₹ 9,816 cr ₹ 3,111 cr ₹ 3,070 cr ₹ 4,357 cr ₹ 4,408 cr ₹ 6,958 cr ₹ 2,655 cr ₹ 2,733 cr ₹ 1,605 cr ₹ 476 cr ₹ 794 cr FY24 FY25 FY26 Q1FY27 FY24 FY25 FY26 Q1FY27 FY24 FY25 FY26 Q1FY27 DCCDL Revenue EBITDA PAT
Slide 9: Development Business Business Update
Development Business Business Update The Arbor, Gurugram Perspective image 9
Slide 10: 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 11: New Products: Launch Pipeline [Medium-Term]
New Products : Launch Pipeline [Medium-Term] ~47% Launched in first 2 years; Healthy Pipeline for the medium term [ ~ 60k + crore] Planned Launches Launched To Be Launched Project Segment [FY 25 onwards] [till FY26] [Medium Term] Size Sales Potential Size Sales Potential Size Sales Potential (~ in m
Slide 12: Surplus Cash Potential [from Launched Products till 30.06.2026]
Surplus Cash Potential [from Launched Products till 30.06.2026] Particulars Amount in Rs crore Cash Balance in RERA 70% accounts 11,305 Other Cash Balances 3,895 Sub-Total : Cash Balance (A) 15,200 Receivables from Projects sold 32,310 Total Pending Cost to Complete for all Launched projects (20,510
Slide 13: Gross Margin Potential [as on 30.06.2026]
Gross Margin Potential1 [as on 30.06.2026] Residual Gross Margins from Sales done till 30.06.2026 : Rs 27,010 crore ~ Rs 413 ~ (Rs 334 crore) Crore ~ Rs 12,035 Crore ~ Rs 39,045 ~ Rs 27,010 crore crore ~ Rs 26,930 Crore Margin potential from Residual Gross Margins Margin addition Residual Gross Marg
Slide 14: Projects Summary [as on 30.06.2026]
Projects Summary [as on 30.06.2026] 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 12,250 12,135 115 100 The Dahlias 19,104 - 19,104 13,182 Independent Floors, Gur
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 The Chanakya, New Delhi 16
Slide 17: Annuity Business – A steady compounder
Annuity Business – A steady compounder 1 Operational Portfolio Strong operational portfolio ~ 50 msf of rental assets; operating at high occupancy levels [95%] & + [97%] by value; highest in the industry Development Potential High quality owned land bank available for sustainable long-term growt
Slide 18: Strong & diversified Annuity Business: ~50 msf Operational Portfolio
Strong & diversified Annuity Business : ~50 msf Operational Portfolio Services & Asset ~44.6 msf ~5 msf Hospitality Management Operational Portfolio[Offices] Operational Portfolio[Retail] [Hotels / Clubs] Across the Portfolio Occupancy : 95% Occupancy : 97% One of the largest organically grown Annui
Slide 19: DLF Group: Rental Business Overview
DLF Group : Rental Business Overview Particulars DLF DCCDL Atrium Total Operational Portfolio 3.2 44.3 2.0 50 Under Development 1 11 1 13 Pipeline 12 1 0 14 Development Potential 45 15 0 60 Rental Income ₹ 102 cr ₹ 1,444 cr ₹ 87 cr ₹ 1,633 cr EBITDA ₹ 97 cr ₹ 1,474 cr ₹ 91 cr ₹ 1,661 cr Net Debt - ₹
Slide 20: Operational Rental Portfolio Snapshot
Operational Rental Portfolio Snapshot : Occupancy at 95% (by area) & 97% (by value); 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 27.4 27 0.4 98% 127 55,677 DCCDL 23.2 22.9 0
Slide 21: Annuity Business – Strong pipeline to drive growth
Annuity Business – Strong pipeline to drive growth [Aiming to reach ~ Rs 10,000 crore of Rental income in medium-term] Annuity Business : DLF Group ~ 76 msf 19 ~25% ~ 50 msf DLF 5.2 ~10% DLF’s portfolio to increase ~ 27 msf to 25% of total Portfolio DCCDL 57 from 10% currently 44.3 ~75% ~90% 14 13 E
Slide 22: High Quality Land Bank
High Quality Land Bank Location Operational Portfolio Projects Projects Balance Potential [Existing] [under construction ] [Planned pipeline] [incl. TOD/TDR potential] DLF DCCDL DLF DCCDL DLF DCCDL DLF DCCDL DLF 5 1 0.8 - - 2 - 5 - DLF City + 2.1 24.1 1 7.6 - 1.2 10 13 New Gurugram - - - - 5 - 25 -
Slide 23: Commitment to Sustainability
Commitment to Sustainability LEED Platinum Wiredscore – Certification for Digital Connectivity Achieved the renewal of LEED Platinum Certification on Wired Score Platinum Certification achieved for 44 buildings 98% of portfolio making DLF the World’s largest Platinum certified Portfolio DCCDL receiv
Slide 24: DLF Limited: Financial Update
DLF Limited : Financial Update Lobby, Tech Park - NOIDA 24
Slide 25: Consolidated Cash Flow: Operating Cash flow - Rs 1,317 crore
Consolidated Cash Flow : Operating Cash flow - Rs 1,317 crore Particulars Q1FY27 Q4FY26 Q1FY26 Inflow •Collection from Sales 2,292 3,159 2,711 • Rental Inflow 113 142 83 Sub-Total Inflow 2,406 3,301 2,794 Outflow •Construction 773 812 742 •Govt. Approval fee/Others 115 147 132 •Overheads 448 335 322
Slide 26: Q1FY27 Consolidated Results
Q1FY27 Consolidated Results Particulars Q1FY27 Q4FY26 Q-o-Q Q1FY26 Y-o-Y Revenue from operations1 1,280 2,172 (41%) 2,717 (53%) Interest Income (RERA A/cs)2 177 163 9% 133 33% Cost of Sales 714 1,164 (39%) 1,948 (63%) Gross Margin 744 1,170 (36%) 902 (18%) Gross Margin% 51% 50% 32% Other income 148
Slide 27: Consolidated Balance Sheet Abstract
Consolidated Balance Sheet Abstract In Rs crore Particulars As on 30.06.2026 As on 31.03.2026 Non-Current Assets 34,748 35,401 Current Assets 42,313 39,474 Total Assets 77,061 74,875 Equity/Reserves & Surplus 46,267 45,473 Non-current Liabilities 3,711 3,801 Current Liabilities 27,083 25,601 Total L
Slide 28: DCCDL: Financial Update
DCCDL : Financial Update DLF Downtown, Chennai 28
Slide 29: DCCDL (Consolidated) Q1FY27 results
DCCDL (Consolidated) Q1FY27 : EBITDA grew at 9%; PAT at Rs 717 crore ; 21% y-o-y growth Particulars Q1FY27 Q4FY26 Q-o-Q Q1FY26 Y-o-Y Rental Income Office 1,189 1,175 1% 1,102 8% Retail 255 251 1% 224 14% Service & Other Operating Income 457 497 (8%) 402 14% Other Income 15 32 (52%) 11 41% Total Reve
Slide 30: DCCDL (Consolidated): Q1FY27 Cash Flow Abstract
DCCDL (Consolidated): Q1FY27 Cash Flow Abstract Particulars Q1FY27 Q4FY26 Q1FY26 Operating Cash flow before Interest & tax 1,386 1,724 1,258 Interest Expense (Net) (389) (296) (413) Tax (net) (173) (161) (85) Operating Cash flow after Interest & tax 825 1,267 760 Capex (814) (655) (556) Net Surplus/
Slide 31: DCCDL (Consolidated): Balance Sheet Abstract
DCCDL (Consolidated): Balance Sheet Abstract Particulars As on 30.06.2026 As on 31.03.2026 Non-Current Assets 33,495 32,530 Current Assets 1,215 1,048 Total Assets 34,710 33,578 Equity/Reserves & Surplus 9,664 8,946 Non-current Liabilities 17,719 18,228 Current Liabilities 7,327 6,403 Total Liabilit
Slide 32: DCCDL (Consolidated): Debt Update – Q1FY27
DCCDL (Consolidated): Debt Update – Q1FY27 Net Debt to EBITDA : 3.1 x Net Debt Rs 18,136 crore 4.5 4.0 3.5 3.2 3.1 FY23 FY24 FY25 FY26 Q1FY27 Interest Rate Movement GAV1 Rs 99,080 crore 8.08% 8.13% 8.06% 7.08% 7.14% CRISIL AAA/Stable Credit Rating ICRA AAA/Stable FY23 FY24 FY25 FY26 Q1FY27 Net Debt
Slide 33: The Lodhi, New Delhi
The Lodhi, New Delhi 33