Slide 1: 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 July 2024 The General Manager The Vice-President Dept. of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza,
Slide 2: DLF Limited Q1FY25 Results Presentation
DLF Limited Q1FY25 Results Presentation Summit Plaza, DLF 5, Gurugram Artistic impression; not an actual image
Slide 3: Agenda
AGENDA 01 Group Overview DLF Limited 02 Business Update DCCDL 03 Business Update Commons at DLF Avenue, New Delhi
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 78 178 ~125 msf Track ~349 msf Years of experience in real Real estate projects Area d
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 scaling-up our product offerings; developing margin accretive products Development ▪ Tapping multiple geographi
Slide 6: Path to Scaling-up
Path to Scaling-up All levers are well placed to drive growth Diversified Launch pipeline Strong Demand Momentum Low-cost land bank targeting different segments & at established locations geographies Strong Enhanced Organizational Balance sheet capabilities Healthy Cash flows Calibrated approach tow
Slide 7: DLF Limited Business Update
DLF Limited Business Update DLF Alameda, New Gurugram
Slide 8: Consistent scale-up in Sales Performance
New Sales Bookings : Q1FY25 - INR 6,404 crore Consistent scale-up in Sales Performance Sales Trend [Y-o-Y] Sales Trend [Q-o-Q] 214% 338% ₹ 6,404 cr ₹ 6,404 cr ₹ 2,040 cr ₹ 1,462 cr Q1FY24 Q1FY25 Q4FY24 Q1FY25 ❑ Q1FY25 Sales Summary: ✓ DLF Privana West, Sector 76/77, Gurugram [~Rs 5,600 crore] ✓ Chan
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 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 10: Launch Calendar (New Products)
Launch Calendar (New Products) FY25 launch pipeline : Rs 42,000 crore; value enhancement from New Products Initial Guidance Medium Term Project Total Till FY24 Planned FY 25 [ FY21] [Beyond FY 25] Size Sales Potential Size (~ in Sales Potential Size Sales Potential Size Sales Potential (~ in msf) ~
Slide 11: Launch Calendar (New Products)
Launch Calendar (New Products) Strong and diversified Launch pipeline for FY25; ❑ Launch area: ~12.8 msf; further increased from earlier guidance ❑ Sales Potential: Rs 42,000 crore ❑ Healthy Product mix: ✓ Launching products across multiple segments; tapping multiple micro-markets ❖ Super Luxury/Lux
Slide 12: Summary: Launched Products (as on 30.06.2024)
Summary: Launched Products (as on 30.06.2024) 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 11,438 10,726 712 567 262 625 Independent Floors, Gurugram 7,701 2,209 5,492 1,
Slide 13: Residual Gross Margin as on 30.06.2024
Residual Gross Margin as on 30.06.2024 Well poised for healthy margin recognition across next few years Gross Margin to be Gross Margin to be recognized from recognized from Residual Gross Margin Projects sales done till Inventory as on 30th Jun- 30th Jun-2024 2024 Completed Inventory ₹ 14,173 cr ₹
Slide 14: Project Execution Status: Area Under Development
Project Execution Status : Area Under Development (31 msf by Q1FY25 end) Calibrated scale-up; enhanced focus on timely execution Under Construction Under Construction Segment New Addition Completions 1st Apr'23 30th June'24 DevCo Luxury* 9.7 4 0.7 13 Premium/Value 7.4 1.1 2.1 6.4 Commercial 1.7 0.9
Slide 15: One Midtown, New Delhi
New Products: Development Update One Midtown, New Delhi [OC received for 3 Towers] Actual Status Clubhouse Tower Entrance lobby Club Entrance Club Interior 14
Slide 16: Significant progress at all Independent floors
New Products: Development Update Significant progress at all Independent floors The Grove, DLF 5, Gurugram GC Enclave,Sector-93, Gurugram The Valley Gardens, Panchkula 15
Slide 17: New Products: Development Update
New Products: Development Update The Arbour, Sector-63, Gurugram North Side Soth Side 16
Slide 18: Results highlights – Q1FY25
Results highlights – Q1FY25 New Sales bookings exhibited strong trends; Healthy Cash generation from operations New Sales Booking Collections Operating Cashflow Rs 6,404 crore Rs 2,968 crore Rs 1,849 crore Credit Rating PAT Cash position ICRA AA/Stable Rs 646 crore Net Cash positive Y-o-Y growth of
Slide 19: Revenue at Rs 1,730 crore; PAT at Rs 646 crore
Consolidated Results – Q1FY25 Revenue at Rs 1,730 crore; PAT at Rs 646 crore ❑ Revenue stood at Rs 1,730 crore, up by 14% ❑ Gross margins at 51% ❑ EBITDA at Rs 597 crore; up by 21% ❑ PAT at Rs 646 crore, growth of 23%; ❑ Surplus cash from operations at Rs 1,849 crore Revenue (in Rs crore) EBITDA (in
Slide 20: Consolidated Profit & Loss Q1FY25
Consolidated Profit & Loss Q1FY25 Revenue at Rs 1,730 crore; PAT at Rs 646 crore Particulars Q1FY25 Q4FY24 Q-o-Q Q1FY24 Y-o-Y Revenue from operations 1,362 2,135 (36%) 1423 (4%) Cost of Sales 662 862 (23%) 688 (4%) Gross Margin 701 1,274 (45%) 735 (5%) Gross Margin% 51% 60% 52% Other income 367 182
Slide 21: Consolidated Cash Flow
Consolidated Cash Flow Strong OCF generation during the period; Rs 1,849 cr Particulars FY24 FY24 FY25 Q1 Q4 Q1 Inflow •Collection from Sales 1,472 2,121 2,888 • Rental Inflow 104 84 80 Sub-Total Inflow 1,576 2,205 2,968 Outflow •Construction 316 510 424 •Govt. Approval fee/Others 88 136 334 •Overhe
Slide 22: Net Cash Position – Q1FY25
Net Cash Position – Q1FY25 Net Cash position improved to Rs 2,986 crore Interest Rate Movement 8.30% 8.18% 8.19% Particulars Q1FY24 Q4FY24 Q1FY25 7.03% Gross opening debt (3,068) (2,948) (4,536) Debt repaid during quarter 121 - 277 FY22 Exit FY23 Exit FY24 Exit Q1FY25 Exit New Borrowing during Qtr.
Slide 23: Consolidated Balance Sheet Abstract
Consolidated Balance Sheet Abstract Particulars As on 30.06.2024 As on 31.03.2024 Non-Current Assets 28,478 27,703 Current Assets 34,073 32,559 Total Assets 62,551 60,262 Equity 40,078 39,432 Non-current Liabilities 6,675 6,690 Current Liabilities 15,798 14,141 Total Liabilities 62,551 60,262 22
Slide 24: Rental Business Business Update
Rental Business Business Update Atrium Place, Gurugram Artistic impression; not an actual image
Slide 25: Leadership in Energy and Environmental Design (LEED) Journey
Maintaining Leadership position in Safety/Sustainability & Wellness Leadership in Energy and Environmental Design (“LEED”) Journey 2023: U.S. Green Building Council recognizes DLF’s Rental Business as a global partner in leading the transformation & regeneration of the built environment across India
Slide 26: Portfolio Snapshot: Occupancy at 93%
Portfolio Snapshot: Occupancy at 93% Leasable Area Leased Area Vacant Area Weighted Average Rental rate WALE GAV - Mar'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 67 19,734 Cyber Park 2.9 2.9 0.0 99% 117 72 5,580 One Horizo
Slide 27: Development Update
Development Update New Product development remains on track Project Size Project1 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 of 1.7 ~ 12 ✓ P
Slide 28: DLF Downtown (Block-4), Gurugram
New Products: Development Update DLF Downtown (Block-4), Gurugram DLF Downtown , Gurugram (Artistic Rendering) Actual Status 27
Slide 29: DLF Downtown (Block3), Chennai
New Products: Development Update DLF Downtown (Block3), Chennai DLF Downtown ,Chennai (Artistic Rendering) Actual Status 28
Slide 30: Result Highlights – Q1FY25
Result Highlights – Q1FY25 Rental income grew by 10% Y-o-Y; driven by steady growth across portfolio Operational Rental Income1 Gross Leasing Portfolio Rs 1,238 crore 42 msf 1.5 msf Portfolio occupancy at 93% Net Debt Rating Sustainability ICRA AA+/Stable DLF Cybercity, Chennai is LEED Rs 17,583 cro
Slide 31: DCCDL (Consolidated): Q1FY25 Results
DCCDL (Consolidated): Q1FY25 Results Revenue increased by 10% Y-o-Y; PAT at Rs 470 crore; 20% growth ❑ Revenue at Rs 1,553 crore, Y-o-Y increase of 10% ✓ Office rentals witnessing steady growth 10% Y-o-Y; ✓ Retail revenues continue to deliver healthy growth of 9% ✓ Services/other operating income gr
Slide 32: DCCDL (Consolidated): Financial Summary - Q1FY25
DCCDL (Consolidated): Financial Summary - Q1FY25 Revenue up by 10%; PAT at Rs 470 crore; 20% Y-o-Y growth Particulars Q1FY25 Q4FY24 Q-o-Q Q1FY24 Y-o-Y Rental Income Office 942 911 3% 851 10% Retail 210 213 (1%) 192 9% Service & Other Operating Income 384 392 (2%) 352 9% Other Income 17 37 (55%) 16 1
Slide 33: DCCDL (Consolidated): Cash Flow Abstract
DCCDL (Consolidated): Cash Flow Abstract Consistent cash flow from operations; Q1FY25 : Rs 721 cr Particulars FY24 Q4FY24 Q1FY25 Operating Cash flow before Interest & tax 4,659 1,258 1,188 Interest Expense (Net) (1,469) (284) (340) Tax (net) (464) (85) (127) Free Cash flow after Interest & tax 2,726
Slide 34: DCCDL (Consolidated): Balance Sheet Abstract
DCCDL (Consolidated): Balance Sheet Abstract Particulars As on 30.06.2024 As on 31.03.2024 Non-Current Assets 30,007 29,833 Current Assets 1,468 1,322 Total Assets 31,475 31,155 Equity 7,715 7,245 Non-current Liabilities 17,300 18,745 Current Liabilities 6,460 5,165 Total Liabilities 31,475 31,155 3
Slide 35: DCCDL (Consolidated): Debt Update – Q1FY25
DCCDL (Consolidated): Debt Update – Q1FY25 Net Debt to EBITDA: 3.7 x Portfolio growth + capex from internal accruals leading to significant improvement 5.6 5.5 4.5 Net Debt Rs 17,583 crore 4.0 3.7 GAV1 Rs 76,795 crore FY 21 FY 22 FY 23 FY 24 Q1FY25 Net Debt to GAV: 23% Value enhancement from new pro
Slide 36: 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 37: DLF Golf & Country Club, DLF 5, Gurugram
DLF Golf & Country Club, DLF 5, Gurugram 36