DLF Limited has announced that its material subsidiary, DLF Cyber City Developers Limited (DCCDL), has completed the allotment of Non-Convertible Debentures (NCDs) worth ₹1,000.00 crores. DCCDL has allotted 1,00,000 NCDs with a face value of ₹1,00,000 each on a private placement basis to eligible investors.

NCD Allotment Details

DCCDL, which operates as a High Value Debt Listed Entity, has structured these NCDs as senior, rated, listed, secured, redeemable, and transferable instruments denominated in Indian Rupees.

Corporate Structure and Compliance

DCCDL serves as a material subsidiary of DLF Limited and maintains its debt securities listing on BSE Limited. The company has already made the requisite disclosures regarding this NCD allotment to BSE Limited, which serves as the designated stock exchange for DCCDL's debt instruments.

Regulatory Disclosure

This announcement was made pursuant to the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure ensures compliance with regulatory requirements for material subsidiaries and their significant financial transactions. The timing and structure of this debt issuance reflects DCCDL's ongoing capital management activities as a listed debt entity within the DLF group structure.

DLF Limited , one of India's leading real estate developers, has reported a strong performance for the second quarter, with new sales bookings exceeding Rs 4,300 crore. The company's successful launch of 'The Westpark' project in Mumbai significantly contributed to this impressive figure.

Financial Highlights

• New sales bookings: Over Rs 4,300 crore for Q2
• Cumulative sales for H1: Over Rs 15,750 crore
• Collections: Rs 2,672.00 crore
• Consolidated revenue: Rs 2,262.00 crore
• EBITDA: Rs 902.00 crore
• PAT: Rs 1,171.00 crore (including one-time impact of ~Rs 600.00 crore from Tulsiwadi project settlement)

Debt Reduction and Dividend Payout

DLF continues to strengthen its financial position:

• Repaid Rs 963.00 crore of debt in Q2
• Outstanding debt reduced to Rs 1,487.00 crore as of September 30
• Paid Rs 1,485.00 crore in dividends (Rs 6.00 per share, 20% YoY growth)

Credit Rating Upgrade

CRISIL has upgraded DLF Limited's credit rating to AA+ with a Stable Outlook, reflecting the company's strong balance sheet, healthy cash flow generation, and sustained business performance.

Rental Business Performance

The company's rental arm, DLF Cyber City Developers Limited (DCCDL), showed robust growth:

• Rental income grew 15% YoY to Rs 1,362.00 crore
• PAT increased by 23% YoY

Project Updates

• The Westpark (Mumbai): Successful maiden launch, contributing significantly to Q2 sales
• Dahlias (Gurugram): Over 55% sold, with average realization exceeding Rs 1.00 lakh per sq ft
• Atrium Place (Gurugram): 2.10 million sq ft out of 3.20 million sq ft completed, with 1.90-1.95 million sq ft already leased

Future Outlook

DLF has outlined an ambitious launch pipeline for the next 18 months, including projects in Goa, Gurugram (Arbour 2), Panchkula, and additional phases of existing developments. The company aims to maintain its focus on margins and cash generation, with a potential launch value of Rs 1,15,000.00 crore over the next four to five years.

Management Commentary

Aakash Ohri, Joint Managing Director and Chief Business Officer, commented on the demand outlook: "For us, as far as we are concerned, I think we have a certain set of people we have created or have worked with for years, and I would like to believe that we will go back to them and their kith and kin and our extended relationships. DLF today is a very strong brand to reckon with and has become a good source of investment."

Ashok Tyagi, Managing Director, added: "This continues to be a good phase for us as a company and possibly for the industry as a whole. Residential, retail, and office leasing, all three verticals are continuing to do well."

DLF's strong Q2 performance, coupled with its strategic focus on high-quality developments and financial prudence, positions the company well for continued growth in the Indian real estate market.