Financial Performance Highlights
DLF Limited reported strong financial results for FY 2025-26 with standalone net profit surging 138% to ₹374.79 crore from ₹157.74 crore in FY25. Basic and diluted EPS stood at ₹15.14 per share compared to ₹6.37 per share in the previous year. The exceptional items (net) of ₹21.45 crore positively impacted results, comprising recovery of amounts impaired in earlier years (₹23.52 crore) partially offset by impact of Labour Code implementation (₹2.07 crore).
Consolidated performance showed revenue of ₹9,816 crore with 9% growth, EBITDA of ₹3,070 crore, and total comprehensive income of ₹4,408 crore. The Board recommended a final dividend of ₹8 per equity share (400%) totaling ₹198.02 crore, subject to shareholder approval at the 61st Annual General Meeting scheduled for 3 August 2026.
Operational Excellence and Business Performance
DLF achieved significant operational milestones including zero gross debt in the development business and record new sales bookings of ₹20,143 crore with strong collections of ₹13,517 crore. The development business has approximately 27 million sq. ft. under execution with a pipeline of ~25 million sq. ft. and balance development potential of ~137 million sq. ft. Successful launches included 'DLF Privana North' in Gurugram and 'The Westpark' in Mumbai.
The annuity business maintained 95% occupancy with retail business growing 11% YoY. Subsidiary DLF Cyber City Developers Limited (DCCDL) reported 15% income growth to ₹7,393 crore and EBITDA of ₹5,718 crore with 16% growth. The company received credit rating upgrades from both CRISIL and ICRA to AA+ (Stable) for long-term bank facilities.
Corporate Actions and Restructuring
DLF completed multiple mergers approved by NCLT Chandigarh during the year: 16 transferor companies merged with DLF Limited effective 14 January 2026, 2 transferor companies merged with DLF Home Developers Limited effective 13 February 2026, and 8 transferor companies merged with Highvista Buildcon Private Limited effective 18 February 2026. These mergers were accounted for using principles of Ind AS 103 with appropriate fair value measurements.
The company redeemed its entire outstanding Non-Convertible Debentures of ₹598.60 crore and prepaid several term loans, leading to significant debt reduction. Total borrowings decreased dramatically to ₹44.95 crore from ₹3,854.03 crore in the previous year.
Corporate Governance and Board Updates
The Board underwent restructuring following the retirement of Mr. A.S. Minocha after completion of his second term. Ms. Vinati Kastia Kilambi was appointed as Additional Director (Independent) effective 19 May 2025. Mr. Vivek Mehra was designated as Lead Independent Director with expanded responsibilities including presiding over Independent Director meetings and reviewing Chairman performance.
The Board reconstituted several committees, dissolving the Corporate Governance Committee and integrating its terms into the Audit Committee. Board composition as of 31 March 2026 included 12 Directors with 7 Independent Directors. Executive Director remuneration included ₹440.62 crore for Mr. Rajiv Singh, ₹153.01 crore for Mr. Ashok Kumar Tyagi, and ₹175.21 crore for Mr. Devinder Singh.
Legal and Regulatory Matters
The company continues to address significant legal matters including SEBI actions from 2013-14 regarding IPO disclosures, which are pending in the Supreme Court after SAT ruled in DLF's favor. The Competition Commission of India penalty of ₹630 crore remains under appeal with the amount deposited with the Supreme Court shown as recoverable.
Various tax demands totaling approximately ₹456.25 crore are under appeal, including income tax demands of ₹192.29 crore and indirect tax demands of ₹97.80 crore. Management, based on legal counsel opinions, believes these matters will not materially affect the financial statements.
Shareholder Information and AGM Details
The 61st Annual General Meeting will be held on 3 August 2026 via video conferencing. The record date for dividend eligibility is 27 July 2026 with payment scheduled on or before 1 September 2026. Resolutions include re-appointment of retiring directors Mr. Ashok Kumar Tyagi and Ms. Pia Singh, and ratification of cost auditor remuneration.
Shareholding pattern shows promoters holding 74.08%, public 4.72%, FIIs 13.54%, and mutual funds 5.15%. 99.99% of equity shares are held in dematerialized form. The company has robust e-voting procedures through NSDL for remote voting from 30 July to 2 August 2026.
Sustainability and CSR Initiatives
DLF maintained strong sustainability credentials with LEED Platinum Certification for entire existing Offices and Retail portfolio, 5-star GRESB rating, and 20 'Sword of Honour' Awards from British Safety Council. The company achieved 34 LEED Zero Water Certifications by USGBC.
CSR obligation for FY26 was ₹27.91 crore with actual spending of ₹6.66 crore. The unspent amount of ₹20.26 crore was transferred to the 'DLF LTD CSR Unspent Account' on 27 April 2026. The company continues to focus on impactful social initiatives through its CSR programs.