DLF : Corporate Presentation Q1Q1Q1

DLF Limited

Corporate Presentation

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DLF Golflinks, DLF 5, Gurugram

Presentation Agenda

S.No		Section		Page No.
I.		DLF Group Overview	3	- 8
II.		Development Business : Overview / Medium-term Outlook / Key Takeaways		9 - 23
III.		Annuity Business : Overview / Medium-term Outlook / Key Takeaways	24	- 40
IV.		DLF Group : Land Bank	41	- 42
V.		DLF Group : Key Medium-term Goals	43
VII.		Disclaimer	44

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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
• Demonstrated track record of 8 decades of customer centricity, adhering to best practices in corporate governance
• • maintaining highest standards of safety & compliances resulting in a Strong Brand positioning
• The organization possesses a high-quality land bank and has created integrated ecosystems offering superior products leading to significant value creation for all stakeholders
• We operate as a diversified enterprise having significant presence in both Development and Annuity businesses enabling the organization to operate with a remarkably differentiated model
• Past few year's performance has laid down a strong foundation and clear visibility of future earnings and cash flows; future performance will only enhance this growth and financial position of the Group
• Focus for the Group remains on prioritizing customer satisfaction and expectations, strong cash flow generation and higher margin delivery

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3

4

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Customer

Centricity

Safety

Compliances

Governance

Sustainability

Key Enablers of continued Excellence & Leadership

• Customer centricity remains our top priority. Continuously strive to develop quality products and communities delivering both great value and quality of life
• Highest safety standards for all projects; seismic specifications planned higher than mandated
• Continuous engagement with Safety partners including periodic trainings for employees and stakeholders
• Internal Technical Due Diligence team; conducting regular audits/assessments; covering existing as well as delivered projects across both businesses
• Have a dedicated team for ensuring complete compliance;
• Strong focus with compliance stage gating & consistent monitoring. Strong ERP towards the same
• Best-in-classgovernance practices; 50% Independent Directors on Board
• Board, well supported by best-in-class advisors, consultants & auditors
• Sustainability remains at the core of our developments
• ~42 msf LEED Platinum by certified rental portfolio; The Camellias - India's first USGBC LEED Platinum certified residential project

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DLF Group - Financial Summary [FY21 - 9MFY25]

	Group Revenue	Rs 12,856 cr				Group EBITDA
							Rs 7,133 cr
			3,864					2,091
10,330	10,671	11,421	8,992	10,460	5,365	5,651	6,182	5,042	5,608
			[9MFY25]
			[9MFY24]				[9MFY24]	[9MFY25]
FY21	FY22	FY23	FY24	9MFY25	FY21	FY22	FY23	FY24	9MFY25

		Group Profit After Tax								Group Operating Cash Surplus
				Rs 3,320 cr										Rs 5,744 cr
														1,140
				1,113		3,755									6,567
			2,530	2,207		[9MFY25]						4,392	4,408	4,604		[9MFY25]
1,390	1,845
	[9MFY24]										[9MFY24]
							1,855
	FY21	FY22	FY23	FY24		9MFY25
				FY21	FY22	FY23	FY24		9MFY25

Significant Enterprise scale; Strong financial position

Note: 1) Proforma figures based on management estimates to reflect the Group Enterprise scale; 2) includes 100% consolidation of DCCDL(without considering JV partner share and	5
excluding any inter-group eliminations)

	Dividend Payouts [FY21 - FY24]
	17 years
	Consecutive period of Dividend Payouts
	₹ 1,238 cr
₹ 495 cr	3 years
Consecutive increase in Dividend Payouts
FY21	FY24
	6

Group Net Debt position [FY21 - 9MFY25]

DLF Group : Net Debt

₹ 24,028 cr	₹ 23,039 cr	₹ 21,210 cr	₹ 18,518 cr	₹ 14,679 cr

FY21

FY22

FY23

FY24

9MFY25

DLF Group : Net Debt-to- EBITDA

4.5x	4.1x	3.4x
		2.6x	~ 2 - 2.5x
FY21	FY22	FY23	FY24	FY25

Consistent improvement in Net Debt position for the group

Note: 1)Figures are based on proforma workings based on management estimates; 2) Figures include net debt position of DLF Limited (consolidated), DCCDL and Atrium Place	7
3) 9MFY25 EBITDA has been annualized to represent the FY25 Net Debt-to-EBITDA ratio

DLF Group - Business Overview

Development Business

• Development & Sale of Residential/Commercial:
• • High-risecondominiums
  • Low-riseindependent floors
  • Plotted development
  • Shop-cum-Offices[SCOs]

DLF Group

Annuity Business

• Development & Leasing of Offices
• Development & Leasing of Retail Malls
• Asset Management [CAM/Services business]
• Hospitality vertical [Hotels / Clubs / F&B]

Diversified & differentiated business model

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Development Business

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DLF Golflinks, DLF 5, Gurugram

1 High Quality

Land Bank

2

Value creation

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High Margin

Potential

4

Strong Financial

Position

Development Business - A strong growth engine

• High quality land bank at established locations; significant upside from TOD/TDR policy
• Sustained growth from existing land bank; no dependency on incremental acquisitions
• Consistent capital appreciation for customers; attractive returns comparable to other asset classes
• Integrated ecosystems along with infrastructure upgradation continues to support further value creation
• Low-costland bank coupled with luxury /super-luxury offerings to deliver consistent margin accretion
• Ability to take advantage of opportunistic land replenishment having high embedded margins
• Healthy & consistent cash flow generation
• Net cash positive Balance sheet

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