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MIRA INFORM REPORT
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Report No. : |
508335 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
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Name : |
DLF LIMITED |
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Registered
Office : |
The Shopping Mall, 3rd Floor, Arjun Marg, Phase
- I, DLF City, Gurugram - 122002, Haryana |
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Tel. No.: |
91-124-4334200 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
04.07.1963 |
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Com. Reg. No.: |
05-002484 |
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Capital Investment
/ Paid-up Capital : |
INR 3568.006 Million |
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CIN No.: [Company Identification
No.] |
L70101HR1963PLC002484 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD3494N |
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TIN No.: |
07370351845 |
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GSTN : [Goods & Service Tax
Registration No.] |
07AAACD3494N1ZA |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged primarily in the business of
Colonisation and Real Estate Development [Registered Activity] |
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No. of Employees
: |
1717 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 420000 |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
DLF Limited is the largest domestic real estate developer with more than 50 years of experience in developing real estate. The company was incorporated in the year 1963 and is based Gurugram, Haryana. It is an established company having good track record. For the financial year ended 2017, the company has achieved healthy operational revenue and has reported good profit margin at 16.11% (approximately) The company possesses sound financial risk profile marked by strong net worth base along with low debt level of the company. The company also derives strength from its long
established track record of business operation and “DLF” established name in
real estate sector. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and condition |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating = A+ |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
18.01.2018 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A1 |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
18.01.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 09.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [91-124-4334200]
[91-9810429093] Number is ringing
LOCATIONS
|
Registered Office : |
The Shopping Mall, 3rd Floor, Arjun Marg, Phase
- I, DLF City, Gurugram - 122002, Haryana, India |
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Tel. No.: |
91-124-4334200 |
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Fax No.: |
91-124-2355581 |
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E-Mail : |
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Website : |
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Factory : |
DLF Gateway Tower, R Block, DLF City Phase – III, Gurugram – 122002, Haryana, India |
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Tel. No.: |
91-124-4396000 |
DIRECTORS
AS ON: 2018
|
Name : |
Dr. Dharam Vir Kapur |
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Designation : |
Director |
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Address : |
405, Aradhana Apartments, Sector 13, R K Puram, New Delhi-110066, India |
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Date of Appointment : |
21.04.2006 |
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DIN No.: |
00001982 |
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Name : |
Mr. Kushal Pal Singh |
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Designation : |
Whole-Time Director |
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Address : |
14, Aurangzeb Road, New Delhi-110011, India |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
00003191 |
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Name : |
Mr. Rajiv Singh |
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Designation : |
Whole-Time Director |
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Address : |
16, Aurangzeb Road, Delhi-110011, India |
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Date of Appointment : |
16.11.1988 |
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DIN No.: |
00003214 |
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Name : |
Mr. Brijinder Bhushan Deora |
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Designation : |
Director |
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Address : |
C - 43 Inderpuri, New Delhi-110012, India |
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Date of Appointment : |
16.11.1988 |
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DIN No.: |
00004942 |
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Name : |
Mr. Amarjit Singh Minocha |
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Designation : |
Director |
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Address : |
623-B Magnolias, DLF Golf Links DLF City, DLF Phase-V Gurugram-122009, Haryana, India |
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Date of Appointment : |
20.05.2015 |
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DIN No.: |
00010490 |
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Name : |
Mr. Kashi Nath Memani |
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Designation : |
Director |
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Address : |
177c, Western Avenue Lane No. 7, Sainik Farms New Delhi-110062, India |
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Date of Appointment : |
29.09.2006 |
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DIN No.: |
00020696 |
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Name : |
Mr. Rajiv Krishan Luthra |
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Designation : |
Director |
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Address : |
3/15, Shanti Niketan, New Delhi-110021, India |
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Date of Appointment : |
12.08.2013 |
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DIN No.: |
00022285 |
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Name : |
Mr. Mohit Gujral |
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Designation : |
Whole-Time Director |
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Address : |
20, Gauri Apartments, 3 & 4, South End Lane, New Delhi-110011, India |
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Date of Birth/Age : |
25.08.1959 |
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Date of Appointment : |
14.02.2014 |
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DIN No.: |
00051538 |
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Name : |
Mr. Vivek Mehra |
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Designation : |
Additional Director |
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Address : |
B-314, New Friends Colony New Delhi 110065, India |
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Date of Appointment : |
13.02.2018 |
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DIN No.: |
00101328 |
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Name : |
Mr. Ashok Kumar Tyagi |
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Designation : |
Chief Financial Officer |
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Address : |
511 B, The Magnolias, DLF Golf Link, DLF Phase – 5, Gurugram-122009, Haryana, India |
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Date of Appointment : |
01.12.2017 |
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PAN No.: |
AAAPT0141P |
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DIN No.: |
00254161 |
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Name : |
Mr. Ved Kumar Jain |
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Designation : |
Director |
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Address : |
100, Babar Road, Opposite Hotel Lalit, New Delhi-110001, India |
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Date of Appointment : |
14.02.2014 |
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DIN No.: |
00485623 |
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Name : |
Mr. Gurvirendra Singh Talwar |
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Designation : |
Director |
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Address : |
19, Phillimore Place Kensington London W87by Gb |
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Date of Appointment : |
21.04.2006 |
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DIN No.: |
00559460 |
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Name : |
Mr. Pramod Bhasin |
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Designation : |
Director |
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Address : |
F- 35, Fatehpur Beri Radhe Mohan Drive Fatehpur Road, Drive Jonapur, New Delhi-110030, India |
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Date of Appointment : |
12.08.2013 |
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DIN No.: |
01197009 |
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Name : |
Mr. Rajeev Talwar |
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Designation : |
Whole-Time Director |
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Address : |
E-88, Greater Kailash, Part-I, New Delhi-110048, India |
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Date of Birth/Age : |
23.12.1954 |
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Date of Appointment : |
14.02.2014 |
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DIN No.: |
01440785 |
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PAN No.: |
AAAPT1797P |
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Name : |
Devinder Singh |
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Designation : |
Whole-time Director |
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Address : |
1220, The Magnolias, DLF 5, Gurgaon 122001, Haryana, India |
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Date of Appointment : |
01.12.2017 |
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DIN No.: |
02569464 |
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Name : |
Mr. Aditya Singh |
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Designation : |
Director |
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Address : |
House No. T-11/8, DLF City Phase III, Gurugram-122002, Haryana, India |
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Date of Appointment : |
29.08.2014 |
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DIN No.: |
06949999 |
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Name : |
Ms. Pia Singh |
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Designation : |
Director |
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Address : |
14, Aurangzeb Road New Delhi-110011, India |
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Date of Birth/Age : |
26.12.1970 |
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Date of Appointment : |
18.02.2003 |
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DIN No.: |
00067233 |
KEY EXECUTIVES
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Name : |
Mr. Mohit Gujral |
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Designation : |
Chief Executive Officer |
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Address : |
20, Gauri Apartments, 3 & 4, South End Lane, New Delhi-110011, India |
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Date of Appointment : |
28.08.2015 |
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PAN No.: |
AAIPG2833M |
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Name : |
Mr. Saurabh Chawla |
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Designation : |
Chief Financial Officer |
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Address : |
B-5/148 Safdarjung Enclave, New Delhi-110029, India |
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Date of Appointment : |
29.12.2017 |
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PAN No.: |
AAGPC5387G |
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Name : |
Mr. Rajeev Talwar |
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Designation : |
Chief Executive Officer |
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Address : |
E-88, Greater Kailash, Part-I, New Delhi-110048, India |
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Date of Appointment : |
28.08.2015 |
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PAN No.: |
AAAPT1797P |
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Name : |
Mr. Subhash Chander Setia |
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Designation : |
Company Secretary |
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Address : |
KG-I/350, Vikas Puri, New Delhi-110018, India |
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Date of Appointment : |
01.09.2007 |
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PAN No.: |
AAXPS7580A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
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Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
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(A) Promoter &
Promoter Group |
1337103120 |
74.95 |
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(B) Public |
446963908 |
25.05 |
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Grand Total |
1784067028 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
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Individuals/Hindu
undivided Family |
63338260 |
3.55 |
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PIA SINGH |
21332500 |
1.20 |
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RENUKA TALWAR |
1540000 |
0.09 |
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INDIRA KUSHAL PAL
SINGH |
4034360 |
0.23 |
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K P SINGH |
10461000 |
0.59 |
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RAJIV SINGH |
16456320 |
0.92 |
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KAVITA SINGH |
9514080 |
0.53 |
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Any Other
(specify) |
1273764860 |
71.40 |
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RAJDHANI
INVESTMENTS AND AGENCIES PRIVATE LIMITED |
964680080 |
54.07 |
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REALEST BUILDERS AND
SERVICES PRIVATE LIMITED |
14927680 |
0.84 |
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UNIVERSAL
MANAGEMENT AND SALES LLP |
5455560 |
0.31 |
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JHANDEALAN
ANCILLARIES LLP |
47388000 |
2.66 |
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BEVERLY BUILDERS
LLP |
1099120 |
0.06 |
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PARVATI ESTATES
LLP |
6380000 |
0.36 |
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PREM TRADERS LLP |
90059200 |
5.05 |
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RAISINA AGENCIES
LLP |
65889120 |
3.69 |
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MALLIKA HOUSING
COMPANY LLP |
77798100 |
4.36 |
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PREM'S WILL
TRUST(HELD BY MR. K.P. SINGH & MR. RAJIV SINGH |
88000 |
0.00 |
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DLF URVA REAL
ESTATE DEVELOPERS & SERVICES PRIVATE LIMITED |
0.00 |
||
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Sub Total A1 |
1337103120 |
74.95 |
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A2) Foreign |
0.00 |
||
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A=A1+A2 |
1337103120 |
74.95 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
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Mutual Funds/ |
35526541 |
1.99 |
|
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Foreign Portfolio
Investors |
289897622 |
16.25 |
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GOVERNMENT OF
SINGAPORE |
83997744 |
4.71 |
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OPENHEIMER GLOBAL
FUND |
67546785 |
3.79 |
|
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Financial
Institutions/ Banks |
2419073 |
0.14 |
|
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Insurance
Companies |
2065571 |
0.12 |
|
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Any Other
(specify) |
11 |
0.00 |
|
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Sub Total B1 |
329908818 |
18.49 |
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B2) Central Government/
State Government(s)/ President of India |
0.00 |
||
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B3)
Non-Institutions |
0.00 |
||
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Individual share
capital up to INR 0.200 Million |
54354591 |
3.05 |
|
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Individual share
capital in excess of INR 0.200 Million |
43682521 |
2.45 |
|
|
NBFCs registered
with RBI |
41256 |
0.00 |
|
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Any Other
(specify) |
18976722 |
1.06 |
|
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Bodies Corporate |
58100 |
0.00 |
|
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Clearing Members |
800483 |
0.04 |
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Bodies Corporate |
49599 |
0.00 |
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Bodies Corporate |
589528 |
0.03 |
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Bodies Corporate |
14904215 |
0.84 |
|
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Bodies Corporate |
1659396 |
0.09 |
|
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Bodies Corporate |
903971 |
0.05 |
|
|
Bodies Corporate |
11430 |
0.00 |
|
|
Sub Total B3 |
117055090 |
6.56 |
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B=B1+B2+B3 |
446963908 |
25.05 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged primarily in the business of
Colonisation and Real Estate Development [Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1717 (Approximately) |
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Bankers : |
· The Hong Kong And Shanghai Banking Corporation Limited 25, Birla Towers, Barakhamba Road, New Delhi-110001, India |
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Facilities : |
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Auditors : |
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Name : |
Walker Chandiok and Co LLP Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other enterprises under
the control of the key management personnel and their relatives:: |
· A.S.G. Realcon Private Limited · Adampur Agricultural Farm · Adept Real Estate Developers Private Limited · AGS Buildtech Private Limited · Alfa Investments Global Limited · Angus Builders & Developers Private Limited · Antriksh Properties Private Limited · Anubhav Apartments Private Limited · Arihant Housing Company* · Atria Partners · B&M Hotbreads Private Limited [w.e.f. 24 April 2016] · Beckon Investments Group Limited · Belicia Builders & Developers Private Limited · Beverly Builders LLP · Buland Consultants & Investments Private Limited · Carreen Builders & Developers Private Limited · Centre Point Property Management Services LLP · CGS Charitable Trust · Ch. Lal Chand Memorial Charitable Trust · Cian Retail Private Limited · Das Retail Private Limited [w.e.f. 1 October 2016] · DBL Kidskart Online Private Limited · Delanco Buildcon Private Limited Desent Promoters & Developers Private Limited · Diana Retail Private Limited · DLF Brands Limited · DLF Building & Services Private Limited · DLF Commercial Enterprises · DLF Employees Welfare Trust · DLF Foundation · DLF Investments Private Limited · DLF M.T.FBD Medical and Community Facilities Charitable Trust · DLF Q.E.C. Educational Charitable Trust · DLF Q.E.C. Medical Charitable Trust · DLF Raghvendra Temple Trust · Dreamweaver Investment and Business Solutions Private Limited [w.e.f. 2 June 2016] · Elephanta Estates Private Limited · Eros Retail Private Limited · Excel Housing Construction LLP · Exe. of The Estate of Lt. Ch. Raghvendra Singh · Exe. of The Estate of Lt. Smt. Prem Mohini [till 2 September 2016] · Exotic R - Online Fashion Private Limited · Ferragamo Retail India Private Limited [till 19 December 2016] · First City Management Company Private Limited · Gangrol Agricultural Farm & Orchard · General Marketing Corporation · GeoEnpro Petroleum Limited [w.e.f. 24 April 2016 till 24 August 2016] · Giorgio Armani India Private Limited · Glensdale Enterprise Development Private Limited · Good Luck Trust · Gujral Designplus Overseas Private Limited · Haryana Electrical Udyog Private Limited · Herminda Builders & Developers LLP [Formerly Herminda Builders & Developers Private Limited] · Hitech Property Developers Private Limited · IKPS Family Trust [w.e.f 11 March 2017] · Indira Trust · Ishtar Retail LLP (Formerly Ishtar Retail Private Limited) · Jhandewalan Ancillaries LLP · JSF Food Private Limited [w.e.f. 24 April 2016 · Jubilant Brands Private Limited [w.e.f. 22 March 2017] · Jubilant Consumer Private Limited [w.e.f. 24 April 2016] · Juno Retail Private Limited · K. P. Singh HUF · Kapo Retail Private Limited · Kiko Cosmetics Retail Private Limited [formerly DBL Cosmetics Private Limited] · Kohinoor Real Estates Company* · KPS Family Trust [w.e.f. 11 March 2017] · Krishna Public Charitable Trust 69. Lal Chand Public Charitable Trust · Lion Brand Poultries · Madhukar Housing and Development Company* · Madhur Housing and Development Company* · Mallika Housing Company LLP · Megha Estates Private Limited · Mohit Design Management Private Limited 76. Nachiketa Family Trust · Northern India Theatres Private Limited 78. Panchsheel Investment Company* · Paramhansa Yogananda Public Charitable Trust [w.e.f. 6 August 2015] 80. Parvati Estates LLP · Pia Pariwar Trust · Plaza Partners · Power Housing and Developers Private Limited · Prem Traders LLP · Prem’s Will Trust · Prima Associates Private Limited · Pushpak Builders and Developers Private Limited · R.R Family Trust · Raghvendra Public Charitable Trust · Raisina Agencies LLP · Rajdhani Investments & Agencies Private Limited · Realest Builders and Services Private Limited · Renkon Overseas Development Limited · Renkon Partners 95. Renuka Pariwar Trust · Rhea Retail Private Limited · Rod Retail Private Limited · Sabre Investment Advisor India Private Limited · Sabre Investment Consultants LLP · Sambhav Housing and Development Company* · Sarna Exports International 102. Sarna Exports Limited · Satish Gujral · Sidhant Housing and Development Company* · Singh Family Trust · Sketch Promoters and Developers Private Limited · Skills Academy Private Limited · Skills Education Private Limited [formerly A4e India Private Limited] 109. Skills for India · Smt. Savitri Devi Memorial Charitable Trust · Solace Housing and Construction Private Limited · Solange Retail Private Limited · Span Fashions Limited · Sudarshan Estates LLP · Sukh Sansar Housing Private Limited · Sunrise BPO Services Pte Ltd. [w.e.f. 29 March 2016] · Super Mart Two Property Management Services LLP · Trinity Housing and Construction Company* · Udyan Housing and Development Company* · Universal Management and Sales LLP · Urva Real Estate Developers Private Limited · Uttam Builders and Developers Private Limited · Uttam Real Estates Company* · Vishal Foods and Investments Private Limited · Wagishwari Estates Private Limited · Willder Limited [till 7 October 2016] · Yashika Properties and Development Company* · Yogananda Films LLP [formerly Yogananda Films Private Limited] · Zigma Processing and Manufacturing Private Limited Note: * A private company with unlimited
liability |
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Subsidiaries
companies : |
· Aadarshini Real Estate Developers Private Limited [U74899DL2005PTC143655] · Abhigyan Builders & Developers Private Limited [U45201DL2005PTC140784] · Abhiraj Real Estate Private Limited [U45201DL2005PTC143656] · Adeline Builders & Developers Private Limited [U45201DL2006PTC147561] · Americus Real Estate Private Limited [U70102HR2007PTC036801] · Amishi Builders & Developers Private Limited [U45201DL2005PTC143529] · Angelina Real Estates Private Limited [U45201DL2006PTC147919] · Armand Builders & Constructions Private Limited [U45201DL2006PTC148072] · Balaji Highways Holding Private Limited [U45400TG2010PTC068181] · Benedict Estates Developers Private Limited [U45201DL2006PTC148049] · Berenice Real Estate Private Limited [U70102HR2007PTC036798] · Beyla Builders & Developers Private Limited [U45201DL2006PTC147959] · Bhamini Real Estate Developers Private Limited [U45201DL2006PTC147562] · Breeze Constructions Private Limited [U45201DL2005PTC135476] · Chakradharee Estates Developers Private Limited [U45201DL2006PTC148056] · Chandrajyoti Estate Developers Private Limited [U45201DL2006PTC147359] · Dae Real Estates Private Limited [U45201DL2006PTC147663] · Dalmia Promoters and Developers Private Limited [U74899DL1989PTC035211] · Delanco Home and Resorts Private Limited [U70101DL2006PTC147914] · Delanco Realtors Private Limited [U70101DL2006PTC148944] · Deltaland Buildcon Private Limited [U70101DL2006PTC148593] · DLF Aspinwal Hotels Private Limited [U55101HR2007PTC037131] · DLF Cochin Hotels Private Limited [U55101HR2007PTC037153] · DLF Commercial Developers Limited [U70101DL2002PLC113636] · DLF Estate Developers Limited [U74999DL1989PLC036260] · DLF Finvest Limited [U72200DL2005PLC136111] · DLF Garden City Indore Private Limited [U70101DL2005PTC143585] · DLF Golf Resorts Limited [U92411DL1998PLC096436] · DLF Home Developers Limited [U74899DL1995PLC075028] · DLF Homes Goa Private Limited [U99999DL2006PTC147891] · DLF Homes Kokapet Private Limited [U45201DL2006PTC147571] · DLF Homes Services Private Limited [U70102DL2007PTC161492] · DLF Hotel Holdings Limited [U55101DL2006PLC152861] · DLF Info Park (Pune) Limited [U45202MH2010PLC211670] · DLF Info Park Developers (Chennai) Limited [U45200TN2008PLC067001] · DLF Luxury Homes Limited (formerly DLF GK Residency Limited ) [U70109DL2013PLC258889] · DLF Phase-IV Commercial Developers Limited [U45201DL2002PLC116394] · DLF Projects Limited [U45201HR2006PLC036025] · DLF Property Developers Limited [U45200DL2008PLC181605] · DLF Real Estate Builders Limited [U70200DL2008PLC182853] · DLF Recreational Foundation Limited [U92490DL2008PLC181466] · DLF Residential Builders Limited [U45200DL2008PLC181609] · DLF Residential Developers Limited [U45200DL2008PLC181611] · DLF Residential Partners Limited [U45400DL2008PLC181606] · DLF South Point Limited [U70109DL2013PLC259262] · DLF Southern Towns Private Limited [U45201DL2006PTC148094] · DLF Universal Limited [U65993HR1980PLC034800] · Domus Real Estate Private Limited [U00082DL2005PTC140528] · Eastern India Powertech Limited [U40100HR1988PLC032877] · Edward Keventer (Successors) Private Limited [U74899DL1946PTC001029] · Elvira Builders & Constructions Private Limited [U45201DL2006PTC148064] · Faye Builders & Constructions Private Limited [U45201DL2006PTC148115] · Ghaliya Builders & Developers Private Limited [U45400DL2007PTC161589] · Hansel Builders & Developers Private Limited [U45201DL2006PTC147763] · Isabel Builders & Developers Private Limited [U45201DL2006PTC147285] · Kavicon Partners Limited [U70101DL2013PLC257596] · Lada Estates Private Limited [U74999DL2007PTC161797] · Latona Builders & Constructions Private Limited [U45201DL2006PTC148108] · Lear Builders & Developers Private Limited [U45200DL2006PTC155587] · Lempo Buildwell Private Limited [U70101DL2007PTC161568] · Liber Buildwell Private Limited [U45400DL2007PTC161518] · Livana Builders & Developers Private Limited [U45201DL2006PTC148150] · Lizebeth Builders & Developers Private Limited [U45201DL2006PTC148045] · Lodhi Property Company Limited [U74899DL2001PLC112154] · Mariabella Builders & Developers Private Limited [U45201DL2006PTC147980] · Melosa Builders & Developers Private Limited [U45201DL2006PTC148050] · Mens Buildcon Private Limited [U74999DL2007PTC161780] · Nambi Buildwell Private Limited [U45400DL2007PTC161498] · Narooma Builders & Developers Private Limited [U45200DL2006PTC155584] · Nellis Builders & Developers Private Limited [U45201DL2006PTC147414] · Niobe Builders & Developers Private Limited [U45200DL2006PTC156073] · Nudhar Builders & Developers Private Limited [U45200DL2006PTC155589] · Paliwal Developers Limited [U74899DL2003PLC123063] · Paliwal Real Estate Limited [U45201DL2003PLC123061] · Phoena Builders & Developers Private Limited [U45200DL2006PTC156121] · Pyrite Builders & Constructions Private Limited [U70102DL2007PTC158415] · Qabil Builders & Constructions Private Limited [U45201DL2006PTC147606] · Rachelle Builders & Constructions Private Limited [U45200DL2007PTC158241] · Riveria Commercial Developers Limited [U74110DL2007PLC158911] · Rochelle Builders & Constructions Private Limited [U45201DL2006PTC147352] · Royalton Builders & Developers Private Limited [U70101DL2005PTC136720] · Sahastrajit Builders & Developers Private Limited [U45201DL2006PTC148085] · Saket Holidays Resorts Private Limited [U55101HR2007PTC037129] · SC Hospitality Private Limited [U70200HR2011PTC043061] · Seaberi Builders & Developers Private Limited [U45201DL2006PTC148008] · Shivaji Marg Maintenance Services Limited (formerly NewGen MedWorld Hospitals Limited) [U9300HR2004PLC035515] · Urvasi Infratech Private Limited [U45400DL2007PTC161790] · Vibodh Developers Private Limited [U70101DL2005PTC139834] · Vkarma Capital Investment Management Company Private Limited [U45201DL2006PTC147349] · Vkarma Capital Trustee Company Private Limited [U45201DL2006PTC147390] · Webcity Builders & Developers Private Limited [U45201DL2005PTC139867] · DLF Cyber City Developers Limited^ [U45201HR2006PLC036074] · Ariadne Builders & Developers Private Limited# [U45200DL2007PTC158014] · Caraf Builders & Constructions Private Limited# [U45201HR2006PTC066880] · DLF Assets Private Limited# [U45201DL2006PTC147392c] · DLF City Centre Limited# [U70102DL2008PLC180096] · DLF Emporio Limited [U74920HR1999PLC034168] · DLF Emporio Restaurants Limited [U55101DL2006PLC152477] · DLF Energy Private Limited# [U74110HR2011PTC044012] · DLF Info City Developers (Chandigarh) Limited# [U00000CH2003PLC026562] · DLF Info City Developers (Kolkata) Limited# [U45202HR2004PLC035288] · DLF Promenade Limited# [U74920HR1999PLC034138] · DLF Power & Services Limited# [U74110HR2016PLC063747] · DLF Utilities Limited# [U01300HR1989PLC030646] · Galleria Property Management Services Private Limited# [U74920HR1999PTC034169] · Hyacintia Real Estate Developers Private Limited# [U70200DL2007PTC161542] · Richmond Park Property Management Services Limited# [U74920HR1999PLC034194] OVERSEAS · DLF Global Hospitality Limited · Silverlink (Mauritius) Limited NOTES: *Total Share Capital means paid-up equity share capital and convertible preference share capital. ^ The Company holds 100% equity share capital in DCCDL, in which Sidhant Housing and Development Company, Rajdhani Investments & Agencies Private Limited and Buland Consultants & Investments Private Limited (Promoter group companies) collectively holds 0.01% 15,96,99,999 cumulative compulsorily convertible preference shares (CCPS) of ` 100 each. Post conversion of CCPS, the Company will hold 60% of its total share capital in DCCDL and balance 40% will be held by Promoter group companies. #Subsidiaries of DCCDL |
|
|
|
|
Associate Companies
: |
· Designplus Associates Services Private Limited [U74210DL2008PTC174330] · DLF Gayatri Home Developers Private Limited [U45201DL2006PTC147560] · DLF Homes Panchkula Private Limited [U45400HR2007PTC038443] · DLF Midtown Private Limited [U70102DL2015PTC278986] · DLF SBPL Developers Private Limited [U45201DL2006PTC147536] · DLF Urban Private Limited [U70109DL2015PTC279007] · Joyous Housing Limited [U70100MH1995PLC092856] · YG Reality Private Limited [U70200DL2007PTC161665] |
|
|
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Names of companies which
have become or ceased to be subsidiaries, joint ventures or associates : |
Companies which have become subsidiaries
during FY 2016-17 ·
DLF Garden City Indore Private Limited ·
DLF Power & Services Limited ·
DLF Southern Towns Private Limited Companies which have ceased to be
subsidiaries during FY 2016-17 ·
Annabel Builders & Developers Private
Limited ·
DLF Buildcon Private Limited ·
DLF Hospitality & Recreation Limited ·
DLF Info City Developers (Chennai) Limited · DLF Inns Limited · DLF Luxury Hotels Limited · DLF Realtors Private Limited · DLF Service Apartments Limited · DLF Southern Homes Private Limited · DLF Telecom Limited · Mhaya Buildcon Private Limited · Triumph Electronics Private Limited |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2497500000 |
Equity Shares |
INR 2/- each |
INR 4995.000 Million |
|
|
|
|
|
|
|
|
|
INR 4995.000 Million |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1791685337 |
Equity Shares |
INR 2/- each |
INR 3583.371
Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1784003090 |
Equity Shares |
INR 2/- each |
INR 3568.006
Million |
|
|
|
|
|
a) Reconciliation of equity
shares outstanding at the beginning and at the end of the year.
|
Particulars |
As on March 31, 2017 |
|
No. of shares |
|
|
Equity shares at the beginning of the year |
1783716082 |
|
Add: Shares issued on exercise of Employee Stock Option Plan (ESOP) |
287008 |
|
Equity shares at
the end of the year |
1784003090 |
b)
Rights/preferences/restrictions attached to equity shares
“The Company has only one class of equity shares having a par value of INR 2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.
During the year ended 31 March 2017, no dividend has been recognized as distributions to equity shareholders (31 March 2016: final dividend INR 2 per share and interim dividend INR 2 per share).”
c) Details of
shareholders holding more than 5% shares in the Company
|
Particulars |
As on March 31, 2017 |
|
|
No. of shares |
% holding |
|
|
Equity shares of
INR 2 each fully paid up |
|
|
|
Panchsheel Investment Company |
312110500 |
17.49 |
|
Sidhant Housing and Development Company |
237209700 |
13.30 |
|
Kohinoor Real Estates Company |
95353400 |
5.34 |
|
Madhur Housing and Development Company |
93819600 |
5.26 |
|
Yashika Properties and Development Company |
92080400 |
5.16 |
|
Prem Traders LLP |
90059200 |
5.05 |
d) Aggregate number
of shares issued for consideration other than cash and shares bought back during
the period of five years immediately preceding the date 31 March 2017
Shares bought back
during the financial year 2012-13 to 2016-17
Nil (during FY 2011-12 to 2015-16: Nil ) equity shares of INR 2 each bought back pursuant to Section 68, 69 and 80 of the Act
Shares issued under
Employees Stock Option Plan (ESOP) during the financial year 2012-13 to 2016-17
The Company has issued total 4,598,954 equity shares of INR
2 each (during FY 2011-12 to 2015-16: 5,125,871 equity shares) during the
period of five years immediately preceding 31 March 2017 on exercise of options
granted under the Employee Stock Option Plan (ESOP).
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3568.006 |
3567.432 |
3563.855 |
|
(b) Reserves & Surplus |
143465.827 |
137612.300 |
168729.999 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
147033.833 |
141179.732 |
172293.854 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
47596.229 |
63750.611 |
80963.471 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
914.912 |
|
(c)
Other long term liabilities |
9898.618 |
8902.623 |
9413.592 |
|
(d)
long-term provisions |
250.224 |
587.882 |
166.314 |
|
Total
Non-current Liabilities (3) |
57745.071 |
73241.116 |
91458.289 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
30077.537 |
20337.750 |
24996.466 |
|
(b)
Trade payables |
8472.970 |
5557.770 |
5482.205 |
|
(c)
Other current liabilities |
45697.151 |
55421.094 |
59963.753 |
|
(d)
Short-term provisions |
176.191 |
114.283 |
5654.040 |
|
Total
Current Liabilities (4) |
84423.849 |
81430.897 |
96096.464 |
|
|
|
|
|
|
TOTAL |
289202.753 |
295851.745 |
359848.607 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3603.598 |
4315.970 |
14067.287 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
1983.367 |
|
(iii)
Capital work-in-progress |
280.772 |
279.865 |
24908.995 |
|
(iv) Intangible assets under development |
1673.618 |
1716.798 |
0.000 |
|
(b) Non-current
Investments |
109666.176 |
73910.812 |
74762.995 |
|
(c) Deferred tax assets
(net) |
18218.214 |
21033.907 |
0.000 |
|
(d) Long-term Loan
and Advances |
5119.430 |
40247.942 |
33899.782 |
|
(e)
Other Non-current assets |
12228.460 |
12137.566 |
0.000 |
|
Total
Non-Current Assets |
150790.268 |
153642.860 |
149622.426 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
95734.179 |
89718.718 |
75085.525 |
|
(c)
Trade receivables |
20843.395 |
15228.229 |
2121.272 |
|
(d)
Cash and cash equivalents |
9225.066 |
10513.715 |
9539.377 |
|
(e)
Short-term loans and advances |
6978.152 |
22579.581 |
19732.170 |
|
(f)
Other current assets |
5631.693 |
4168.642 |
103747.837 |
|
Total
Current Assets |
138412.485 |
142208.885 |
210226.181 |
|
|
|
|
|
|
TOTAL |
289202.753 |
295851.745 |
359848.607 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
37029.549 |
36219.612 |
30171.440 |
|
|
|
Other Income |
7023.529 |
11870.971 |
10447.388 |
|
|
|
TOTAL |
44053.078 |
48090.583 |
40618.828 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of land, plots, constructed properties, development rights and golf course operations |
16454.885 |
16148.700 |
8747.080 |
|
|
|
Employees benefits expense |
1077.358 |
899.945 |
1075.819 |
|
|
|
Other expenses |
3943.439 |
4077.725 |
3990.782 |
|
|
|
Exceptional items |
422.500 |
(5134.885) |
294.900 |
|
|
|
TOTAL |
21898.182 |
15991.485 |
14108.581 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
22154.896 |
32099.098 |
26510.247 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12360.804 |
13848.150 |
14033.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
9794.092 |
18250.948 |
12476.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
989.571 |
748.175 |
558.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
8804.521 |
17502.773 |
11918.645 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2838.900 |
2536.622 |
2781.100 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
EXPENSES /(INCOME) - NET |
0.000 |
0.000 |
(263.205) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
5965.621 |
14966.151 |
9400.750 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
370.300 |
117.800 |
129.200 |
|
|
|
TOTAL EARNINGS |
370.300 |
117.800 |
129.200 |
|
|
|
|
|
|
|
|
|
|
IMPORT |
|
|
|
|
|
|
Material (including material purchased in high seas) |
NA |
NA |
211.465 |
|
|
|
Total |
NA |
NA |
211.465 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic |
3.34 |
8.39 |
5.28 |
|
|
|
Diluted
|
3.34 |
8.39 |
5.27 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
13151.853 |
971875.900 |
14623.308 |
|
|
|
|
|
|
Cash flow from operating activities post working capital
changes |
(5689.404) |
10336.964 |
(52.559) |
|
|
|
|
|
|
Net cash flow (used in)/ from operating activities |
(6950.285) |
8494.445 |
(363.682) |
QUARTERLY RESULTS
|
PARTICULARS |
31.12.2017 |
30.09.2017 |
30.06.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
5029.400 |
4679.100 |
10177.400 |
|
Total Expenditure |
4671.500 |
3156.000 |
5139.700 |
|
PBIDT (Excl OI) |
357.900 |
1523.100 |
5037.700 |
|
Other Income |
3261.100 |
663.100 |
623.400 |
|
Operating Profit |
3619.000 |
2186.200 |
5661.100 |
|
Interest |
3039.700 |
2603.400 |
2658.900 |
|
Exceptional Items |
(1206.800) |
NA |
NA |
|
PBDT |
(627.500) |
(417.200) |
3002.200 |
|
Depreciation |
503.100 |
244.100 |
237.300 |
|
Profit Before Tax |
(1130.600 |
(661.300) |
2764.900 |
|
Tax |
(542.900) |
(52.000) |
918.000 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
587.700 |
(609.300) |
1846.900 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(587.700) |
(609.300) |
1846.900 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
205.45 |
153.46 |
25.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.78 |
2.38 |
14.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
187.95 |
125.62 |
228.76 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.23 |
0.36 |
0.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
3.99 |
5.08 |
0.65 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.50 |
3.78 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.62 |
7.48 |
0.70 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.57 |
0.58 |
0.56 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.04 |
0.04 |
0.24 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.79 |
2.32 |
1.89 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
16.11 |
41.32 |
31.16 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.06 |
5.06 |
2.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.06 |
10.60 |
5.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.64 |
1.75 |
2.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.51 |
0.64 |
1.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.51 |
0.48 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
25.46 |
296.00 |
33.84 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.64 |
1.75 |
2.19 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
|
|
|
Market Value |
INR 222.00/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
3563.855 |
3567.432 |
3568.006 |
|
Reserves & Surplus |
168729.999 |
137612.300 |
143465.827 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
172293.854 |
141179.732 |
147033.833 |
|
|
|
|
|
|
long-term borrowings |
80963.471 |
63750.611 |
47596.229 |
|
Short term borrowings |
24996.466 |
20337.750 |
30077.537 |
|
Current Maturities of Long
term debt |
14623.308 |
971875.900 |
13151.853 |
|
Total
borrowings |
120583.245 |
1055964.261 |
90825.619 |
|
Debt/Equity
ratio |
0.700 |
7.480 |
0.618 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
30171.440 |
36219.612 |
37029.549 |
|
|
|
20.046 |
2.236 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
30171.440 |
36219.612 |
37029.549 |
|
Profit/ (Loss) |
9400.750 |
14966.151 |
5965.621 |
|
|
31.16% |
41.32% |
16.11% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G84870401 |
100171652 |
AXIS TRUSTEE SERVICES LIMITED |
04/04/2018 |
- |
- |
8750000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
2 |
G77502011 |
100155962 |
PNB HOUSING FINANCE LIMITED |
26/12/2017 |
- |
- |
8000000000.0 |
9TH FLOOR ANTRIKSH BHAWAN22 K G MARGNEW DELHIDL110001IN |
|
3 |
G69330942 |
100138582 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
14/11/2017 |
- |
- |
9500000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN |
|
4 |
G53050159 |
100121791 |
AXIS TRUSTEE SERVICES LIMITED |
30/08/2017 |
- |
- |
250000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
5 |
G53052585 |
100121799 |
AXIS TRUSTEE SERVICES LIMITED |
30/08/2017 |
- |
- |
5000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
6 |
G73556078 |
100119466 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
04/08/2017 |
05/01/2018 |
- |
1700000000.0 |
25, BIRLA TOWERSBARAKHAMBA ROADNEW DELHIDL110001IN |
|
7 |
G33883505 |
100073332 |
VISTRA ITCL (INDIA) LIMITED |
06/01/2017 |
- |
- |
12400000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMA400051IN |
|
8 |
G37076353 |
100048385 |
VISTRA ITCL (INDIA) LIMITED |
27/08/2016 |
08/02/2017 |
- |
6000000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMA400051IN |
|
9 |
G02555373 |
100023620 |
IL & FS TRUST COMPANY LIMITED |
07/04/2016 |
- |
- |
3250000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMA400051IN |
|
10 |
C75387373 |
10612154 |
STATE BANK OF INDIA |
20/10/2015 |
- |
- |
2600000000.0 |
INDUSTRIAL FINANCE BRANCH, JAWAHAR VYPAR BHAWAN,,14TH FLOOR, 1, TOLSTOY MARG,NEW DELHIDL110001IN |
CORPORATE INFORMATION
DLF Limited (‘DLF’ or the ‘Holding Company’), a public
limited company, together with its subsidiaries, joint ventures and associates
(collectively referred to as the ‘Group’), is engaged primarily in the business
of colonisation and real estate development. The operations of the Group span
all aspects of real estate development, from the identification and acquisition
of land, to planning, execution, construction and marketing of projects. The
Group is also engaged in the business of leasing, generation of power,
provision of maintenance services, hospitality and recreational activities
which are related to the overall development of real estate business. The
Holding Company is domiciled in India and its registered office is situated at
Shopping Mall, 3rd Flo
MANAGEMENT DISCUSSION
& ANALYSIS REPORT
ECONOMIC OVERVIEW
Real economy grew by 7.1% in FY 2016-17, compared with 8% in the previous year. This growth suggested that the economy was relatively resilient to the demonetization event, which reduced cash in circulation by 22.6% in second half of FY 2016-17 [Source: Economic Survey, August 2017]. Annual inflation declined to 4.5% in FY’17. The inflation decline has been dramatic, dropping sharply from 6.1% in July 2016 to 1.5% in June 2017. The sharp dip in WPI inflation in late FY’15 and through FY’16 owed to deceleration in global commodity prices, especially crude oil prices and prudent policies followed by the Reserve Bank of India and Government of India. With global commodity prices recovering and base effect giving an upward push, wholesale inflation perked up during FY’17. With the green shoots slowly becoming visible in merchandise trade, robust capital flows, the external position appears robust, reflected inter-alia in rising reserves and strengthening exchange rate. The current account deficit narrowed in 2016-17 to 0.7% of GDP, down from 1.1% of GDP in the previous year, led by sharp contraction in trade deficit which more than outweighed the declines in net invisibles. Export growth turned positive after a gap of two years and imports contracted marginally, so that India’s trade deficit narrowed to 5% of GDP in FY’17 as compared to 6.2% in previous year.
However, there is an anxiety because of series of deflationary impulses weighing on the economy, which is yet to gather its full momentum and still away from its potential. Stressed farm revenues, declining non-cereal food prices, high levels of NPA’s in bank balance sheets, farm loan waivers and fiscal tightening it would entail, declining profitability in the power and telecom Sectors have been exacerbating the balance sheet problem.
In the current fiscal 2017-18, the outlook for growth is a forecast range for real GDP growth of 6.75% to 7.5%. India is undergoing structural shift in the inflationary process towards low inflation. The energy market is very different today than a few years ago in a way as renewables play an increasing influence resulting in a downward bias to oil prices.
Sustaining current growth trajectory will require action on more normal drivers of growth such as investment and growth and cleaning up of balance sheets to facilitate credit growth. Inflation in the near term will be determined by a number of proximate factors, including the outlook for capital flows and exchange rate, which will be influenced by the outlook and policy in advanced economies, especially the US, the recent nominal exchange rate appreciation, the monsoon, implementation of Goods and Services Tax (‘GST’), 7th Pay Commission awards, NPA resolution of the banks, likely farm loan waivers and the output gap.
Global economy activity is expected to pick up with a long-awaited cyclical recovery in investment, manufacturing and trade, according to the World Economic Outlook of International Monetary Fund (IMF). India has emerged as one of the fastest growing economies in the world.
The expected growth in the Indian economy is amongst the highest in the world and can be attributed to the combined impact of Government reforms, infrastructure spend by the government and the Central bank’s inflation focus supported by benign global commodity prices.
Reserve Bank of India’s policy during the past year was inclined towards stability in the economy and rebalancing liquidity conditions. The strategy going forward is to put the resolution of bank’s stressed assets on a firm footing and credit to revive and flow to productive sectors of the economy.
With inflation continuing below the targeted 4% range of RBI, we could expect that policy rates may see downward trajectory.
The present Government has announced numerous initiatives to provide thrust to the economy such as the GST, demonetization and various tax reforms. The current regime continues to liberalize the Foreign Direct Investment (FDI) Policy to enable greater inflows and foster growth in numerous sectors.\
FUTURE OUTLOOK
The Board of Directors approved the signing of definitive agreements between the Company and an affiliate of GIC Real Estate, Singapore for a strategic partnership to develop a rental assets portfolio of DLF Cyber City Developers Limited (“DCCDL”), a subsidiary company. The partnership enables sustainable, long-term growth of DCCDL’s rental business and creates an optimum structure for its rental business to improve efficiency, with long-term capital for growth of the portfolio.
This is one of the largest private equity transactions in India in the real estate space. The transaction shall create one of the leading platform play for rental properties, with rent yielding assets of 26.9 msf. The portfolio, currently, has an under development pipeline of approx. 2.5 msf with further development potential of approx. 19 msf within the portfolio.
The transaction shall be subject to necessary corporate, shareholders and regulatory approvals.
The transaction implies an Enterprise Value of INR 35,6170.000 million for DCCDL, translating into equity value of approx. INR 30,2000.000 million
As per arrangements, the gross proceeds to the promoter entities would be INR 11,9000.000 million approx., which includes secondary sale of equity shares [post conversion of cumulative compulsorily convertible preference shares (CCPS)] to GIC affiliate for INR 8,9000.000 million approx. and two buybacks of CCPS by DCCDL for INR 3,0000.000 million. The expected post tax consideration in the hands of the promoter entities pursuant to the sale and two tranches of buyback is expected to be in excess of INR 10,000 million (approx.). A substantial portion of the said amounts will be invested in the Company.
The Development business will also benefit due to the structural reformation of its capital structure.
During the financial year, the Company, despite adverse macro headwinds, continued to deliver on its commitments. With the stated objective of focusing on faster execution of all projects, completion of approx. 14.5 msf was achieved.
The Rental business remains on a growth trajectory, and hence, DLF has commenced construction of the next phase of Chennai IT SEZ and remains on path of timely execution of the Cyber Park project in Gurugram.
The business strategy remains focused on the following key pillars:
Efficient capital
structure
The Company continues to improve the quality of debt and has successfully reduced the average cost of borrowing for the Group. Post the transaction in the Rental business, DLF believe that the development business will attain a very healthy gearing ratio and the Rental business will continue to improve its quality debt by reducing the cost and phasing-out the principal payments, which essentially remain self-liquidating.
Timely execution of
projects
The Company has in the past years demonstrated its focus of timely execution of the various projects and continues to embark on the strategy of creating finished inventory and reap benefits at the right inflexion point in the market. This strategy is incumbent in the current scenario, post the notification of the Real Estate (Regulation and Development) Act, 2016.
Growth of rental
business
Given the healthy traction and expected demand momentum, the Company has initiated new development in its rental portfolio. The Company strongly believes that this segment is embarking on a high tide and the time is ripe to reap benefits by deploying capital into this business and create a marquee portfolio.
Real Estate
(Regulation and Development) Act, 2016
Real Estate (Regulation and Development) Act, 2016 [RERA] promulgated by the Central Government and Rules made thereunder by the respective State Governments will bring transparency, accountability and higher standard of governance. RERA will boost consumer confidence, pave the way for accelerated demand for housing products and also facilitate the flow of investments into the realty sector, from both global and Indian investors. It provides a unified legal regime for purchase of real estate and standardize the practice across the country. RERA will prove to be a game changer for all stakeholders in the real estate markets. It is expected that overall capital values will go up across most cities as there will be slowdown in supply, while demand will remain robust. The Company has applied for registration of its project(s), wherever applicable.
BUSINESS AND
FINANCIAL PERFORMANCE AND OUTLOOK
STRATEGY
The Company and GIC, Singapore’s sovereign wealth fund, have agreed to enter into a strategic partnership to develop a rental assets portfolio, under the consolidated portfolio of DLF Cyber City Developers Limited (“DCCDL”), a subsidiary company. The partnership enables sustainable, long-term growth of DCCDL’s rental business and creates an optimum structure for its rental business to improve efficiency, with long-term capital for growth of the portfolio
The Board of Directors accorded their consent for entering into definitive agreements, under which GIC shall hold 33.34% equity stake in DCCDL, post completion of a series of steps as contemplated in the transaction. The transaction has been agreed at an Enterprise Value of INR 35,617 million for DCCDL translating into equity value of INR 30,200 million (approx.). The achieved valuation reflects high quality of assets and premium land parcels for future development in the existing campuses/ locations.
This is one of the largest private equity transactions in India in the real estate space. The transaction shall create one of the leading platform play for rental properties, with rent yielding assets of 26.9 msf. The portfolio, currently, has an under development pipeline of approx 2.5 msf with further development potential of approx 19 msf within the portfolio.
The transaction shall be subject to necessary corporate, shareholders and regulatory approvals.
The Development business will also benefit due to the structural reformation of its capital structure.
During the fiscal year, the Company, despite adverse macro headwinds, continued to deliver on its commitments With the stated object of focusing on faster execution of all projects, completion of approximately 14.5 msf was achieved.
The Rental business remains on a growth trajectory and
hence, the Company has commenced construction of the next phase of Chennai IT
SEZ and remains on path of timely execution of the Cyber Park project in
Gurugram.
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
300.000 |
300.000 |
|
|
|
|
|
Total |
300.000 |
300.000 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees issued
by the Company on behalf of: |
|
|
|
Subsidiary companies |
98623.200 |
112100.100 |
|
Others |
305.700 |
300.525 |
|
Claims against the Company (including unasserted claims)
not acknowledged as debts* |
11486.974 |
10871.218 |
|
Income tax demand in excess of provisions (pending in appeals) |
34947.304 |
21988.135 |
|
The Company has pledged its 0.14% holding by way of
investment in DLF Promenade Limited, a subsidiary company in favour of Axis
Trustee Services Limited, in respect of Non-convertible Debentures of INR
37,50.000 million (31 March 2016: INR 37,50.000 million and 1 April 2015: INR
37,50.000 million) issued by DLF Promenade Limited. |
||
* Interest and claims by customers/ suppliers may be payable as and when
the outcome of the related matters are finally determined and hence not been included
above. Management based on legal advice and historical trends, believes that no
material liability will devolve on the Company in respect of these matters.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS YEAR ENDED 31.12.2017
(INR IN MILLION)
|
Particulars |
Six Months Ended 31.12.2017 |
Six Months Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income
from operations |
|
|
|
|
Revenue from operations |
5029.400 |
4679.100 |
19885.900 |
|
Other Income |
3261.100 |
663.100 |
4547.600 |
|
Total
Income |
8290.500 |
5342.200 |
24433.500 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
2775.800 |
1841.100 |
8610.200 |
|
Employee benefits expense |
508.900 |
219.600 |
996.700 |
|
Finance Costs |
3039.700 |
2603.400 |
8302.000 |
|
Depreciation and
amortisation expense |
503.100 |
244.100 |
984.500 |
|
Other expenditure |
1387.000 |
1095.300 |
3360.500 |
|
Total
Expenses |
8214.500 |
6003.500 |
22253.900 |
|
|
|
|
|
|
Profit before exceptional
Items (3+4) |
76.000 |
(661.300) |
2179.600 |
|
Exceptional Items |
(1206.600) |
0.000 |
(1206.600) |
|
Profit
before tax (7-8) |
(1130.600) |
(661.300) |
973.000 |
|
Tax expense |
(542.900) |
(52.000) |
323.100 |
|
Profit/
loss for the period |
(587.700) |
(609.300) |
649.900 |
|
Other
comprehensive income |
|
|
|
|
Item that will not be reclassified to profit or loss |
12.700 |
(0.700) |
12.000 |
|
income tax relating to items that will not be reclassified to profit or loss |
(4.400) |
(0.200) |
(4.200) |
|
Item that will be reclassified to profit or loss |
68.300 |
72.800 |
165.900 |
|
income tax relating to items that will be reclassified to profit or loss |
(23.600) |
(25.200) |
(57.400) |
|
Total
comprehensive income |
53.000 |
47.100 |
116.300 |
|
Total
comprehensive income for the period |
(534.700) |
(562.200) |
766.200 |
|
|
|
|
|
|
Paid
- up Equity Share Capital (Face
value of INR 2/- per share) |
3568.100 |
3568.100 |
3568.100 |
|
Earnings Per Share (EPS) |
|
|
|
|
a)
Basic |
(0.33) |
(0.34) |
0.36 |
|
b)
Diluted |
(0.33) |
(0.34) |
0.36 |
* Tax expense include deferred tax and minimum alternate tax
** Diluted earnings per share for the quarter ended December 31, 2017, being anti-dilutive, has been considered as basic Earnings Per Share.
FIXED ASSETS:
· Leasehold land
· Freehold land
· Building and related equipments
· Furniture and fixture
WEB SITE DETAILS
PRESS RELEASES:
DLF'S RAJIV SINGH
SELLS SHARES WORTH INR 1980.000 Million
12.04.2018
Singh, who is also a
promoter of the company, offloaded the shares to another promoter entity
Rajdhani Investment and Agencies Pvt Ltd.
DLF vice-chairman Rajiv Singh today sold 92 lakh shares of the realty major for INR 1980.000 million through an open market transaction.
Singh, who is also a promoter of the company, offloaded the shares to another promoter entity Rajdhani Investment and Agencies Pvt Ltd.
According to bulk deal data available with the NSE, Singh sold a total of 98 lakh shares at an average price of INR 215.25, valuing the transaction at Rs 1980.300 million.
As of December 2017, Singh held over 1.64 crore shares, amounting to 0.92 per cent stake in DLF, while Rajdhani Investment owned 97,920 scrips or 0.01 per cent stake in the realty company.
DLF LEASES 2.25 LAKH
SQ FT OFFICE SPACE TO US CO-WORKING PLAYER WEWORK
Earlier, DLF had also
provided around 60,000 sq ft office space on lease to co-working operator
Skootr.
India's largest realty firm DLF has given on lease about 2.25 lakh sq ft of office space in Gurgaon to US-based co-working major WeWork, sources said.
Earlier, DLF had also provided around 60,000 sq ft office space on lease to co-working operator Skootr.
The demand for co-working space is rising in India due to affordable rents and flexible working options.
According to sources, DLF has leased this space to We Work in Cyber City, Gurgaon for about INR 130 per sq ft monthly rental.
DLF spokesperson declined to comment on the leasing transaction, while We Work spokesperson could not be reached.
DLF has over 30 million sq ft of commercial space, most of it in Gurgaon.
Recently, DLF promoters concluded sale of 40 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) for about INR 12,0000.000 million. This deal included sale of 33.34 per cent stake to Singapore's sovereign wealth fund GIC for about INR 9,0000.000 million.
DLF has 66.66 per cent stake in DCCDL now.
The realty major is developing an office project in Gurgaon and has recently bought 12 acre land in the city for INR 1,5000.000 million.
WeWork, the platform for creators that provides space, community and services to help people make a life, has recently entered the Delhi-NCR market with launch of its collaborative space in Gurgaon. This was the 6th location by WeWork in India.
It has co-working space at three locations in Bengaluru and two in Mumbai.
With the launch of 'WeWork Bristol Chowk' at Gurgaon , the company will provide space for 7,000+ members across India.
On the launch of Gurgaon centre, WeWork India General Manager Karan Virwani said: "Whether you need a desk, office suite, or entire HQ, we create environment that increases productivity, innovation, and collaboration for teams of any size."
As per a recent study by JLL, the co-working segment in India is expected to receive USD 400 million investments by 2018, he added.
"Our plug-and-play offices make it possible for startups, entrepreneurs and established businesses to focus on success and growth while we take care of everything else," Virwani said.
We Work is a platform for creators, providing more than 2,10,000 members around the world with space, community, and services through both physical and virtual offerings.
We Work has 230 physical locations in 71 cities and 21 countries around the world.
Founded in 2010 in New York, the company now employs more than 4,400 globally. More than 20,000+ companies and over 2,10,000 members are now based at WeWork, with member companies ranging from startups to big companies like Dell, KPMG, GE, Microsoft, and Samsung.
In its report 'The Art of Co-Working', real estate consultant CBRE India had pegged that leasing of space by co-working operators would touch 10 million sq ft by 2020.
Small and medium enterprises, along with startups, are the biggest target clientele for the companies operating these co-working business centres. The cost per seat is in the range of INR 7,000-15,000 per month.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.08 |
|
UK Pound |
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.