Board Meeting Details

The Board of Directors meeting was held on Monday, 3rd August 2026, commencing at 14:00 Hrs and concluding at 16:00 Hrs. The meeting approved both standalone and consolidated unaudited financial results.

Key Financial Figures - Standalone (₹ in crores)

Quarter Ended June 30, 2026:

  • Total Income: ₹479.61
  • Revenue from operations: ₹256.94
  • Other income: ₹222.67
  • Total Expenses: ₹392.38
  • Cost of land, plots, development rights, constructed properties and others: ₹151.09
  • Employee benefits expense: ₹100.90
  • Finance costs: ₹4.60
  • Depreciation and amortisation expense: ₹15.44
  • Other expenses: ₹119.58
  • Profit before exceptional items and tax: ₹87.23
  • Exceptional items: Nil
  • Profit before tax: ₹87.23
  • Tax expenses: ₹21.89
  • Current tax: ₹10.92
  • Deferred tax charge/(credit): ₹10.97
  • Net profit for the period: ₹65.34
  • Other comprehensive loss: ₹(0.94)
  • Total comprehensive income: ₹64.40
  • Paid-up equity share capital: ₹495.06 (face value ₹2 per share)
  • Earnings per equity share (not annualized):
  • Basic: ₹0.26
  • Diluted: ₹0.26

Segment Reporting Change

Starting Q1 FY27, the Company has identified and reported Rental business (commercial/retail rent generating business) as a separate segment due to increased relevance in the overall portfolio. Real estate segment comprises all other real estate development and ancillary activities.

Segment-wise Revenue (Q1 FY27):

  • Real Estate: ₹187.94 crores
  • Rental: ₹69.00 crores
  • Total Segment Revenue: ₹256.94 crores

Segment Results (Q1 FY27):

  • Real Estate segment result: ₹103.64 crores
  • Rental segment result: ₹37.15 crores

Emphasis of Matter by Auditors

S.R. Batliboi & Co. LLP highlighted three ongoing litigation matters:

1. CCI Penalty Matter: Competition Commission of India imposed penalty of ₹630.00 crores for unfair conditions on buyers. Company deposited ₹630.00 crores under protest as per Supreme Court direction. Appeal pending with Hon'ble Supreme Court of India.

2. Land Sale Deed Cancellation: Punjab and Haryana High Court judgments cancelling sale deeds of land/removal of structure relating to two IT SEZ/IT Park Projects in Gurugram. Special Leave Petitions pending with Hon'ble Supreme Court which has stayed the operation of impugned judgments.

3. SEBI Restrictions: SEBI imposed restrictions on Company for non-disclosure in 2007 Red Herring Prospectus. Company received favorable order from SAT. SEBI's statutory appeal pending before Hon'ble Supreme Court. SEBI also imposed penalties on Company, some directors, officers, three subsidiaries and their directors.

Management, based on external legal counsel advice, believes no adjustment required in financial results for these matters.

Other Significant Notes

Twenty Five Downtown Reality Limited Settlement:

  • Consent award passed by Arbitrator for ₹801.00 crores settlement (including interest)
  • Company received ₹251.10 crores, balance secured by first mortgage over residential real estate units
  • Reversed impairment loss of ₹235.19 crores as exceptional income in previous year
  • ₹411.72 crores considered as interest income receipt

Labour Code Impact:

  • Government notified four new Labour Codes on 21 November 2025
  • Company accounted incremental impact of ₹20.76 crores during year ended 31 March 2026, disclosed as "Exceptional items"

Amalgamation Scheme:

  • NCLT Chandigarh Bench approved amalgamation of 16 transferor companies with DLF Limited on 14 January 2026
  • Scheme accounted as per Ind AS 103 'Business Combinations'
  • Financial results for corresponding quarter ended 30 June 2025 restated for one transferor company
  • Other fifteen transferor companies accounted as asset acquisition w.e.f. 14 January 2026

Subsidiaries and Associates Included

Financial results include 4 partnership firms:

  • One partnership firm reviewed by other auditors: Share of net loss after tax ₹0.12 crores
  • One partnership firm not reviewed by any auditors: Net profit after tax ₹Nil

Consolidated Results Overview (₹ in crores)

Quarter Ended June 30, 2026:

  • Total Income: ₹1,280.34
  • Profit before tax, share of profit in associates and joint ventures: ₹422.76
  • Net profit for the period: ₹793.90
  • Total comprehensive income: ₹793.52
  • Earnings per equity share: ₹1.61 (Basic), ₹1.61 (Diluted)