Interim report
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DLF LIMITED DLF Gateway Tower, R Block, DLF City Phase – III, Gurugram – 122 002, Haryana (India) Tel.: (+91-124) 4396000, investor-relations@dlf.in Regd. Office: DLF Shopping Mall, 3rd Floor, Arjun Marg, DLF City, Phase-I, Gurugram -122 002, Haryana (India) CIN: L70101HR1963PLC002484; Website: www.dlf.in 16th October 2026 The General Manager Dept. of Corporate Services BSE Limited P.J. Tower, Dalal Street, Mumbai – 400 001 The Vice-President National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra(E), Mumbai – 400 051 Sub: Outcome of Board Meeting Dear Sir/ Madam, The Board of Directors of the Company at its meeting held today i.e. Friday, 16th October 2026 has considered and approved inter-alia the Un -audited Financial Results (Standalone and Consolidated) for the Quarter and Half Year ended 30th September 2026 (‘Results’). A copy of the said R esults along with the Limited Review Reports are enclosed herewith in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting of the Board of Directors commenced at 14. 00 Hrs. and concluded at 15.45 Hrs. This is for your kind information and record please. Thanking you, Yours faithfully, For DLF Limited R. P. Punjani Company Secretary Encl.: As above
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CMrt ill Account ott 4lh Floor, Otfice 405 World Mark - 2. Asset No.8 lcl Airport Hospitality District, Aerocity New Delhi - I lO 037, lndia Tel : +91 11 4681 95OO Independent Auditor's Review Report on the Quartcrly end Yeer to Dote Uneudited Standalone Financia! Results of tbc Company Pursuant to the Reguletion 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulationg 2015, as amended Review Rcport to The Boerd of Directors DLF Limited We have reviewed the accompanying statement of unaudited standalone linancial results of DLF Limited (he "Company") which includes 4 partnership firms for the quarter and period ended September 30, 2026 (lhe "statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,20l5, as amended (the "Listing Regulations'). The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (lnd AS 34) "lnterim Financial Reporting" prescribed under Section 133 of the Companies Act,2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to expre$ a conclusion on the Statement based on our review. S.R BerusotaCa LLP 4. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance witlr Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of alt significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Based on our review conducted as above and based on lhe consideration ofthe review ofother auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statemenf prepared in accordance with the recognition and measurement principtes-laid doln in the aforesaid Indian Accounting Standards ('lnd AS') specifred under Section 133 of the Companies Act, 2013 as amended, read with retevanirules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. s.R. oailiboi E co. PafincMip with LLP tdentity ilo. AAB-4a94 2. 3 5. (i) Emphasis of Matter ParagraPh We iraw attention to Note no. + (a), (b) and (c) to the statement which describes the uncertainty relating to outcome of following lawsuits filed against the Company: a) In a complaint filed against the Company relating to imposing unfair conditions on buyers' the ' Competition Commissioi of India (CCI) has imposed a penalty of.Rs. 630.00 crores on the Company whicir was upheld by Competition Appeltate Tribunat. The Company has filed an appeal which is cunently pending witir Hon'ble Suprerne Court of India and has deposited Rs. 630.00 crores under protest as per direction of the Hon'ble Supreme Court of India. b) In a writ filed with Hon'ble High Court of Punjab and Haryanq the-Company,-oneof its subsidiary and a joint venture Company have rieived judgements cancelling the sale deeds of land/ removal of structure ielating to two IT SE2/ lT Park Projectrin Gurugram. The Company, its subsidiary and joint venture *rp"-ny filed Special Leave Petirions (SLPs) chillenging thgordels which is currently pending with Hon;ble Supremi Court of India. The Hon'ble Supreme Court of India has admined the matters and stayed the operation of the impugned judgements till further orders in both the cases. ReCd. Ollice 8lo.t'8'. 3rd tloor. (ofirtr.?oo 016
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S.R Berueot*Ca LLP Cha?tan dAccountantr 6. c) Securities and Exchange Board of India ('SEBI') in a complaint filed against the Company, imposed certain restrictions on the Company. The Company had received a favorable order against the appeal in said case from Securities Appellate Tribunal ('SAT'). SEBI, subsequently, has filed a statutory appeal which is currently pending before Hon'ble Supreme Court of India. SEBI has also imposed penalties upon the Company, some of its directors, officers, its three subsidiaries and their directors which has been disposed off by SAT with a direction that these appeals will stand automatically revived upon disposal of civil appeal liled by SEBI against aforementioned SAT judgement. Based on the advice of the external legal counsels, no adjustment has been considered in these standalone financial results by the management in respect of above matters. Our conclusion is not modified in respect of these matters. The accompanying Statement of quarterly interim standalone financial results and other financial information includes Company's share of net loss after tax of Rs. 2.15 crores and Rs2.27 crores and total comprehensive loss of Rs. 2.1 5 crores and Rs. 2.27 crcres for 0re quarter ended and the period anded September 30,2026 in respect of one partnership firm whose interim financial result and financial information, as considered in the Statement which have been reviewed by other auditors. The reports of such other auditors on interim financial results and olher financial information of this partnership firm have been furnished to us by the management" and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this partnership firm, is based solely on the reports of such other auditor. Our conclusion on the Statement is not modified in respect of the above matter. The accompanying Statement of quarterly interim standalone financial results and other information includes unaudited financial results in respect of one partnership firm, whose interim financial results reflect net profit after trax of Rs. Nil and total comprehensive income of Rs. Nil for the quarter and period ended September 30, 2026 as considered in the Statement based on their unaudited interim financial results and other financial information which have not been reviewed by any auditors. These unaudited financial results and other financial information of the said partnership firm has been approved and fumished to us by the management. According to the information and explanations given to us by the management, these interim financial results and other financial information are not material to the Company. Our conclusion on lhe Statement is not modified in respect of this matter. For S.R Batliboi & Co. LLP 301003E/E300005 Partner Membership No.: 094421 UDIN: !.(,fiqqZ,SNcq Place: Gurugram Datc: October 16,2026 7 Chartered ICAI Firm Per
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DLF Limited Rcgd. Oficc: Shopping M.ll,3d Ff@r, Ariu Mrg, DLF City, phrc t, Gurugm - t22lXXl (Heryme), tndia CIN . L70mrHnl963PLCfl)2184, Vcbcirc : w.dtf.in Tcl.: +91-lZ{l3|A[, Emil: eorporatcefreire@dlf.in fl,ta in crere unlcgr othcmiec SL NO. PARTICUUI,RS QUARTER ENDED HALFYEAR ENDED YEAR ENDEI) n.@.mat (Uneudircd) n.M.m26 (Unaudited) fi.09.Nrg (Uneuditcd) (rcfcr norc 8) n.0.m26 (Uneuditcd) fi.99.21X25 (Unaudited) (rcfcr notc 8) 3t.03.2,,26 (Audi.cd) I I 3 { f 6 7 8 I l() ll l2 locomc a) Revcnue from rpmtions b) Otha incomc (refer nrnc 5) Toad incomc Expen*a r) Cmt of land, plos, developmctr nghts, cousmcted prryxnics rnd othcn b) [:nployebcnc6s €xprrs c) Fiunce costs d) Dcpreiatior rd mortisrtirr crporr e) Othcr erpetse Totd cxpcnecr Profit bcfort cxccpiond itcmc lnd rrx (l-2) l')rceptiond irms (rcfct notc 5 & 6) Prcfir bcforc..x (l+{) T.x cxp.m.s for thc pcriod / ycr r) Ourenr ax b) Tar rclaring ro carlicr 1'ms c) Defcmrl tar chrge Toul rax cxpcnccr for lhc pc;iod / ycar Ncr profit fil thc Friod / ycer ($6) Othcr comprchcnsivc gein/Qoss) a) ltcms that will not bc rcclessified to pnrfir and krss b) lncmc tar Elamrg ro ircms $at rill urr be rclassifted to pnr6r rnd loss Totd oficr comprchcnsivc gainl(oee) Totd compschctrsivc imomc for rhc pcdod/ ycr p+8) l'aid-up eguiq s[are opinl (hcc valuc of { 2 1n sherQ Othct e<piq Emingr pcr cquity rherc (fecc vduc of I 2 per ehlc) (mt mudiacd) Besic (Q Dilured (Q {39.r)E 9{7. I I t 386.t9 ?ltl.91 il)3.97 5.tl) t8..rJ 172.i6 56L8{ 82435 8U.t5 t6.5E 7.{5 4.03 t00J2 LE5 (|.{6) r.39 80r.?r .t95.()6 7.21 7.21 256.91 222.67 tn.6t I 5t.{)9 l0().90 .1.6{l t6.2t r t9.58 3ql38 t7.2t 8?.23 10.92 10.91 2t.89 6334 (1.25) o3t (0.el) a.0 {95.(r, [.26 [.26 6.16.51 915.86 t582J9 29.r.{8 ,1..t() {3.68 I t.t6 r38.32 399.01 983J5 273.1' t2r8.5l 13.1r) t92.77 m6.03 t,0t2.3t (6.e4 l7l (s.18) L0(n.33 {95.06 {.09 {.09 696.[2 I,r69.78 r,86t.8{t {13.r,6 2r,+.8? lr).(x) 3+.65 n|.61 gfl.t2 9u.58 9ll.58 27.iil 18.12 13.92 865.66 t).6() ().t t) 0.45 t66.il {95.(}6 3.50 3.50 I,ll {.35 t,{r79.(H 4r9JJ9 370.52 t76.26 l07.rx) 26.6{ 281.08 t16r.16 r,0,l.93 115.r9 t267.t2 25.11(l t90.2t 2t5.2t t03r.9r 0.07) r.78 (5.2e) t,0r5.62 {95.r)6 t.25 1.25 398.1.{7 2,733.27 6,7$.74 127o.56 389.t I It0.66 69.59 591.53 2,15r.{5 1916.T) 2r{.{5 {,{90.71 109.y) ().63) 677.t1 112.8' ,J1?.et (5.{r0) 1.26 (3.74) 3,1U.t7 +r5.06 71,1rr2.72 t5.t+ | 5.t{ Gurugram n
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DLFUmircd Regd. Olfice: Shopping Malt 3ad Floor, Ariun Marg, DLF Ciry, Phase I, Gunlgrarn - p2 A1z(Haryana), India.CIN - L7010IHR196PLq)024E4, Vebsire : qrum.dlf.io 'l'el.: +9 l - I 24-4334200, Flmail: corporateaffairs@dtf.in OLFI Statcmear of unaudited Sundalooe Assers and Liabilities: in ctores uolesg others,ise Particulars Ae ar n.og.2urn (Uoaudired) As at 3t.03.20at (Audited) IASSETS lNoo*o,,.o, """.o lnrop.rry, plant rnd e<;uipment lCapital work-in-progrcss I lr,uestm.rt p..rperty lother intangiblc assets llntangible tsscts under devclopmcnt lRight-of-use asscts tnvestment in subsidirrics, assrxiates, i<int vcnrures and parmcrship 6rms Fioaocial assea lnvestments Inans OtherFnancial assctslincludesbankdcpositsoflg3l.55crores(31 March2026(4,l38.lBcrores)l Dcferred tax assets (net) Non-current tax assets (nct) Other non-curtent assets 129.92 7.11 1922.69 r05.83 l.l 1 35.71 19,434.91 0.05 43.30 964.91 417.29 537.58 86r.68 r30.03 1.22 1,006.16 116.69 1.1 I 39.96 18,844.56 0.05 670.05 4,184.41 435.86 637.35 742.16 Totd noo-current aaset8 LJ,562.09 26,W9,51 Current agoets lnventories Financial aseers lnvestments Ttade rccdvablcs Cash rnd cash eguivrlcnts Othcr bank balanccs Inens ()ther Gnancial assets lincludcs bank deposits of{ 8,813.87 crorcs (31 March 2026 I 848.51 crorcs)l Other currcnt asscts 211.08 71 5.51 1,581.10 924.29 9,640.02 1,857.30 13,D8.99 45.00 1,353.34 r,783.66 3904.30 143.78 1$61.39 t,7%.76 113u.43 Total current aegets 2f,228.29 4XtL6Totd asseo 51,790.38 49fl2.n EQUITYAI{D UABIUTIES EC"ity li<1uity share capital Other cquiry 495.06 2e978.58 495.06 31,092.72 Total equiry m,o3.s 3t 5yr.7E Non-current liabilitiee Financial liabiliries kase liability 'l'radc payables (a) total outstanding dues of micro and small cnterprises (b) totd outstanding dues of crcditors othcr than micro and small enterptises ()thcr non-currcnt financial liabilities Provisions ( )ther non-currcnt liabilitics 794.19 186.61 54.11 29.17 14.21 794.19 154.24 51.29 19.14 38.25 Total oon-current liabilities L09E.29 L057.u Cunent liebilities Finencid tiabilities kase liability 1 rade payebles (r) toul outstrnding dues of micnr and small cnterprises (b) total outstanding ducs of creditors other rhan micro and small cntcrprises ()thcr current Gnancial liabilities Other currcnt liabilitics Provisions Current tax liabilities (nct) #N 293.16 18821.10 37.73 7.75 7.79 147.33 803.59 258.31 15,8r3.80 31.03 9.27 7.34 234.41 773.22 Total curent liabilities ll:( 1i-Il I rru.ugrqr]r, m2t8.4t n,w,38 Toal equity and liebilities FIT Ill;t [\,/1 I 51,790.38 49;172.n t
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DLF Limited Rcgd. Office: ShoPP-g Mall, 3d Floor, Ariun Merg, DLF City, Pbesc I, Gurugrem - 1122 022 (Httytna), Iodie. CIN - L70I0IHRI963PLC00A84, rilebsic : mm'.dtf.io TcL: +9l.lllrl-43342fl), Emrit corporeteafiein@U.in Sratemenr of Uneudired Standalone Cash Flow for the eoded 3l) ?fi2ti: DLFA (? io crorce uotcee otherwiec eued) Peniculelg {.@.m26 (Uoaudiad) n.0.m25 (UD.udilcd) (rcfer oote 8) 7r 5.51 9.57 9ll.58 03s.43) (203.()) 1,14(t.03 (es4.50 (?27.84 0.48) 2(t.92 0.88 1,1311.(t7 (ss.e7) 2,4;2.n 79.O2 2,941.29 o.62 (22.0q (seO.3s) 45.(X) (2,2nn.56) (357.76) 55.51 z)3.05 735.43 (zpte.t2) J4.63 () 48) (r 7(D (8e4 t0.(x) (4z).0s) (t.Kt 1.29 (1o.2) (3..x)) (o.26) (5 48) (1,97e.99) (1,989.03) (1,065.86) (1.2e) 1,787.K' ?t5.5t t)57.t2 ?3.6t 916.63 (10.43) (35.62) (1t+4 4e) (.18 20) (6{r.{i1) (s3.64) )45 3,r 55.63 (320.3{,) r954.33 (.164.15) t"590.t8 Q6.n) (r.so) 10.25 It29.65 (1 7e.54) I,t 38.32 278.1\ 4{)1.8{l 2,4fi.78 (1,445.91) (27n.6r) 0m.88) 0.47 o 85) (1,485.64 (3J18.45) 107.0{) (4l0.se) (.16s) 0.(H (6.63) (2u.67) (401.88) (s.2a 6.81 (23s.19) 89.3r 722.5t 0.04) 194.16 9t6.61 A Pmfitbebre tax Adiuetmcna fon l)cprcrciadon and arxlnisation cspensc Pnrfrr on salc of pnrpcnt, plant and ec;uipmenr and invcsrment pnrperty (nct) Rcntal incornc on accounr ()fdiscountinl; of security dcposits and straight lining cffecr Amount forfcircd on pmpcrues Finance cost lntercst incomc (inchxJing farr valuc changc in financial insrnrnrrts) Sharc of loss/ (profit) fnrm pannership firms (net) Nct forcign eschang,e differtnccs Unclaimcd balanccs and escess pnrvisions rvrittcn back Pnrvision for intercst inconr wrimcn back l)ividcnd incofiic l)rofit on salc of invesrmcnrs (net) iUlowance/ rvrirc offs of financial and non-financial assets and pmr.isions l.)sccptional ircms (ner) Opcrering (bao)/ pmfir bcfoc workiog capiul chengcs Vorkiog capirel ediurtmeote: l)ecrease/(incrcase) in rradc rcceivablcs lncrcasc in inventories lncrcase in r.rther non-financial asscts lncreasc in other financial assets and loans lncrcasc/ (decrrase) in othcr financial liabi[rics lncrcasc in prur'isions lncttasc in othcr non-financial liabilirics l)ecreasc in tradc payablcs Casb llow from opcmtiog ectivities poet uorkiog cap-ol cheogce lnc()firc ta\ rtfundcd/ (paid), net Nct ceeb Oow gcneretcd from opereriog ectivities (A) B CASH FLOVS FROM II\II,ESTING ACTNITIES l)rocccrls from sale of properry-, planr and equiprncnr and inrestorent propcrr,v l\rchase of poperty, plant and c<luipment, inyestrncnt p()p€rty, intangiblc assets and capital work-in-pnrgrcss Purchasc of invcstments Pnrceeds frum disposal/ ndcmpdon of intcstments (lnvestment in)/ rcdcmption of fised deposits rvith maruritl' rnorc than 3 months (nct) I nans grven to subsidiaries (including pannenhip firms), associatcs joinr vcnturcs anrl orhcrs lnans rrpaid by subsidiaries (including pannership firms), associates, ioint venrurrs and othcni lntcrcst rccciYcd l)ividend nceived Ncr crsh lbw (uscd io)/ gcoeretcd from invcetiog rctivitice (B) C CASH FLOWS FROM FINANCING ACTTVITIES Repayment of non-cunent born)wings (including curcnt matudtics) Rcpayment of currcnt b()rn)wings, nct lntercst paid Qncrease)/ dccrease in rcstricted bank balanccs (net) Repaymcnt of lcasc liabilirics l)ividend paid Nct caeh ,bw used io fioeociog ectivitice (C) Nct (dccrteac)/ iocrcesc io cash end cleb cquiv.hoo (A+B+C) Nct forcign cschangc diffcrencc Cash and cash c<luivalents at thc beginning of thc pcrirxJ (net ofovenJaft) Cesh.nd c.sb equiv.hne.r Fdod cod (ner of overdmft) Compoocoo ofceeh eod caeh equiveleors ar period cnd compriees of Cash and cash equivalcnrs Gurugram *(!
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1. 2. DLFA The above standalone financial results of DLF Limited ('the Company) have been reviewed by theAudit Committee and approved by the Board of Directors ,t im *..u'rrg held on 16 october 2026.The statutory auditors have carried out Limited Review of above standalone financial results of theCompany. These standalone financial results have been prepared in accordance with the recognition andmeasurement principles of Indian Accounting Standards (tnd AS) as notified under SeJtion 133 ofthe Companies Act, 2Ol3 rturd with the Companies (Indian Accounting Standards) Rules, 2015 as amended. standdone segment wise revenue, resurts, segment assets and liabilities As the CgTRanf is in process of .o*.*irrg operadons of several rental generating commercial/retail real estate Properties leading to incriased relevance in the overall po*foio, Rental business (-rinly comprising of commercial/ietutrent generadng business) has been identified and reported as-a seParate segment from the previous qu^rt r. Further, Company's real estate segment comprise of all other real estate development and *iilt"ry activities. The operations of the Coriparry are domiciled in India, therefore, there are no reportable geographical segment. Details of Standalone segment-wise revenue, results, assets and liabilities is-given -below, - 3. rtr SlNo. Particulers @rrerEoded IlelfYeer Eodcd Yerr Ended n.0.wx (Unedtud) n.ff.wx (Unrrdiad) n.0.frzs (Uoerdiad) [refcr ooe El n.0.w26 (Unrdited) n.0.mts (loeodired) 3t.03.frx (Ardited) $loent Rcvenrr a) Rul Esatc b) Rental Toal Segucot Revcoue kss: Ioter Segment rc\'eoue Net Revenue ftom Opeatiooe 353.26 85.82 4r9.ffi 4I9.08 r87.94 69.00 25f,;94 256.94 fi3.17 83.36 646.53 6{6.53 54r.19 154.83 6%.A 5%.U2 945.24 169.il I,114.35 l"ll4.lt 3,633.35 351.12 3fi4.O 3fi4.O II Sgment rcsuhs a) Real Esute b) Renul Profit hfore ercepboel ians, ux eod interc* I*ss: Finance cost I*ss : Other uoallocated espeulinrre (net of rocome) Profit hforc erepiooal iene and ux Exceptional itcms (refer note 5 and 6) Pmft hfore trx 418.09 470.47 8EE 56 5.40 58.81 NA.XE &4.Xt t03.64 37.t5 140.79 4.60 48.96 n.zt fi.23 931.67 132.48 1,066.15 43.68 39.12 983.35 ?i5.t9 1,21E.54 521.73 fr7.62 1,0D.35 10.00 107.77 91t.58 9ll.5E 1,031.35 r82il l,2li.6 r0i.m 74.51 t 03t93 235.t9 tfii.tz 1,251.45 1,530.36 4,?8t81 140.66 36r.86 4fi6.29 214.45 4,M.74 m $gneot asseo (#) a) Ral Esutc b) Renal c) Undlocatal asses Totrl reset 46,(A4.n 1,650.61 3,495.37 51,790.38 45,3$.n r,635.05 4243.36 5t 219.61 7 40,343.79 \872.m r,901.90 44,tn.E9 45,644.40 1,650.61 3,495.37 51,?90.38 n,J43.79 \872.n I,mt.90 44,117.89 u,695.93 1,619.32 3,457.02 49fiLn N $gpentliabilitiers (#) a) Real Esme b) Reotal c) Unallocated liabiliries Totrl liebilitiee 20,8r5.07 156.76 t34.9t 2t316.74 r9,075.7t 315.24 176.46 19f87.41 t3,175.U n2.24 r,670.50 15,t47.96 20,8r5.07 16(r.76 ty'.9t zl.i,6,.?4 t3,t75.U 102.24 r,670.50 15,u7.96 17,(r(r8.70 \n.44 r93.35 18,1E4.49 Gurugram (#) Capiul employal = Segarent assem - Segrnent lubiliries ;i;
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4. DLFA Notes to the Standalone Financid Results Key litigations: a) In a complaint filed-by Belaire/Magnoha/Park Place owners association against the Company "ll.g"g unfair conditions on its buyers, the Competition Commission if lrrai" (Ccf'hai Tqgtg penalty of ( 630.00 crores, which is also uphetd by the Competition Appellate Tribunal (COMPAT). The Company had filed an appeal before Hon'ble Supreme bourt of India (Hon'ble Court) against the said order which the Hon'ble Court admitted vide its order dated 27 August 2014 and the Company deposited < 630.00 crores on Hon'ble Court's direcrion, shown the same as recoverable in the books. The Company has filed an application seeking refund including interest, which is to be [sted along-with main appeal in due couse. b) In a matter, the Hon'ble High Court of Puniab andHaryanapassed order against the Company, one of its subsidiaries and a joint venture company c*..llirrg the sale deeds of land/removal of construction relating to two IT SEZ/ IT Pa* Proiects rn G-umgram admeasuring -56 acres. The said order was challenged by the Company before Hon'ble S.rpr.*. Court Jf India and the matter is stayed till fruther orders. c) The Sectuities and Exchange Board of India CSEBI) issued a Show Cause Norice (SCN) dated 25 June 2013 to the Company for non-disclosure of material information at the time of filing Red Herring Prospectus n 2007. The SEBI vide order dated 10 October 2014 restrained thi Company and its Officers/certain directors from accessing the securities market and prohibited thcm from bryrrs selling or otherrrrise dealing in securities, directly or indirectly, in any rnanner, whatsoever, for a period of three years. The Company and the said DLectors filed appeals before the Hon'ble Securities Appellate Tribunal (Hon'ble SAT) agarnst the aforesaid Order dated 10 October 2014.The Hon'ble SAT vide its order dated 13 March 2015 quashed and set aside the order passed by SEBI. Against Hon'ble SAT's order, SEBI filed an appeal with the Hon'ble Supreme Court of India (Hon'ble Court), which stood admitted vide order dzted 24 April 2015 without granting any interim stay in favour of SEBI. In October 2015, SEBI filed applications before the Honble Coutt seekin& restraint on the Company, its promoters and/or directors from proceeding with the sale of 159,699,999 Cumulative Compulsorily Convertible Preference Shares of DLF Cyber City Developers Limited held by the promoter group companies to third party instinrtional investors. The said applications carne up for hearing before the Hon'ble Court on 4 November 2015 and the Hon'ble Court did not pass any orders restraining the transaction and simply directed that the said applications be listed alongwith the earlier appeal. SEBI issued a SCN making dlegations similar to the SCN dated 25 June 2013. Similar SCNs were also issued to three subsidiades, their directors and certain other entities. By way of order dated 26 Febnury 2015, the Adiudicating Of6cer, SEBI imposed monetary penalties upon Company, some of its Directors, its erstwhile CFO, its three subsidiades and their Directors. The Company and other parties aggrieved by the aforesaid order filed appeals before the Hon'ble SAT against the order dated26 February 2015. Vhen these appeals were listed before Hon'ble SAT on 15 April 2015, SEBI's counsel under instructions stated that during the pendency of the said appeals, the Order dtted 26 February 2015 would not be enforced. The Hon'ble SAT vide its order passed on 25 April 2018 held that in view of Hon'ble SAT's mafority decision dated 13 March 2015, the SEBI Order dated26 February 2015 cannot be sustained. Accordingly, the Hon'ble SAT disposed off the appeals with a direction that these appeals, shall stand automatically revived once the Hon'ble Court disposes of the civil appeals Frled by SEBI against the Hon'ble SAT's judgment dated 13 March 2015. The matters are pending for final outcome. Gurugram
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DLFA 5. Notes to the Standalone Financial Results Based on the grounds of the appeals and advice of the independent legal counsels, management believes that there is strong likelihood of succeeding in respect of above marters. pending the frnal decisions on the above matters, no adjustment is required to be made in these standalone financial results. Thj a-bove litigStions as mentioned in point 4 ("), O) and (c) are subject matter of Emphasis of Matter, in Independent Auditor's Review Report. ln eadier yeats, several disputes arose between the shareholders of Twenty Five Downtown Reality Ittmited formerly known as Joyous Housing Limited flHL)] involving thi Company as one of the shareholder, which were pending at various levels including arbitration proceedings ior recovery of the Company's entire outstanding dues, inclusive of interest, fromJHL In the previous yea\ a consent tertns were executed between the parties concemed and a consent awatd was passed by the Hon'ble Arbitrator wherebyJHl agreeded to pay to the Company a sum of { 801.00 crores (along with interest payable in accordance with consent terms which was accounted for) towards repayment of its dues and setdement of all ongoing disputes. Out of the settlement ,lolt t, the Company has already received < 251.10 crores and outstanding balance is secured by way of a first and exclusive mortgage over identified carpet area of residential red estate units of a RERA registered proiect. Pusuant to the consent awa:d, the Company had withdrawn all proceeding/notices filed againstJHl and other concemed parties in vadous forums. Accordingly, the Company in the previous year had reversed the impairment loss, recorded in earlier yeat of { 235.19 crores as an exceptional income and balance of 7 4llJ?crores is considered as receipt of interest income which was maiody accrued and impaired over a period of time in earlier years, as other income. On2l November 2025,the Govemment of India notified the four new Labour Codes (the Code on Wages, 2019, the Indusuial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020) consolidating 29 existing labour laws. The Company had assessed and accounted for the incremental impact of these changes was amounting to ( 20.74 crores during the year ended 31 March 2026 which was disclosed as "Exceptional items" in the standalone financial results in the previous year. During the quatter, the Company in its 6ltr,Annud General Meeting held on 3 August 2O26,has declared dividend of { 8 per equity share (On the face value of { 2 per equity share) amounting to < 1,980.25 crores. In the previous year, the Hon'ble National Company LawTribunal (NCLT), Chandigarh Bench, vide its Order dated 14 J-urry 2026, has approved the Scheme of Amalgamation involving merger of Aaralyn Builders & Developers Private Limited, Afaaf Builders & Developers Private Limited, Akina Builders & Developers Private Limited, Arlie Builders & Developers Private Limited, Atherol Builders & Developers Private Limited, Cadence Real Estates Private Limited, Demarco Developers and Constructions Private Limited, DLF Universal Limited, Hoshi Builders & Developers Private Limited, Jayanti Real Estate Developers Private Limited, Mufallah Builders & Developers Private Limite4 Ophira Builders & Developers Private Limited, Oriel Real Estates Private Limited, Sagardutt Builders & Developers Private Limited, Vamil Builders & Developers Private Limited and Verano Builders & Developers Private Limited ('Transferor Companies) with DLF Limited (the 'Transferee Company), Pnrsuant to the provisions of Section 230-232 and other applicable provisions of the Companies Acg 2013 rcadwith the Rules made thereunder. The above scheme of arrangement has been accounted for in accordance with Ind AS 103 tsusiness Combinations', accordingly, financid results and figures for the corresponding quaner and half year ended 30 September 2025 have been restated for one of the transferor company in accordance with Appendix C of Ind AS 103 Business Combinations. Other fifteen transferor companies have been accounted as asset acquisition w.e.f. 14J the scheme of Amalgamation as approved by Hon'ble NCLT. 6. 7 8. Gurugram 2026 as pu
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9 Place: Gurugram Date: 16 October2026 DLFA \* [.l^.l^Y)h AshokKumarTVa[i Notes to the Standalone Financid Results The figues for the corresponding previous period/year have been regrouped/reclassified, wherever necessafy. On behalf of the Board of Directors of DLF Limited Devindet Singh Managing Director DIN:02569464 Managing Director DIN:00254161 Gurugram f\u
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S.R Bnruaot &Co. LLP 4th Floor. Office 405 World Mark - 2. Asset No. I lGl Airport Hospitality Oistrict. Aerocity New Delhi - I rO 037. lndla Tel : +91 l1 4681 95OO ChlnaI.d Accorrntaits Iodependent Auditor's Review Report on thc Quartcrly end Yerr to Dete Unauditcd Consolidetcd Finrnciel Resutts of the Compeny Pursuent to thc Reguletion 33 of the SEBI (Listing Obligetions ood Disclosurc Requirements) Rcgulations, 2015, as emcnded Review Report to Tbe Boerd of Directors DLF Limitcd l. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of DLF Limited (the "Holding Company" or "the Company') and its subsidiaries (including partsrership firms) (the Holding Company, its subsidiaries and partnership firms together referred to as "the Group'), its associates, joint ventures and joint operations for the quarter ended Septemb€r 30,2026 and year to date from April 01, 2026to September 30,2026 (the "Statement') attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations ,2015, as amended (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (lnd AS 34) "lnterim Financial Reporting" prescribed under Section 133 of the Companies AcL 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 24l0, "Review of Interim Financial Information Performed by the Independent Auditorof the Entity" issued by the Institute of Chartered Accountants of India. This standad requires that we plan and perform the review lo obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities enumerated in Annexure I 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors refened to in paragraph 7 below, nothing has come to our attention that causes us to believe that ttre accompanying statement" prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('lnd AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including lhe manner in which it is to be disclosed, or that it contains any material misstatement. 6. Emphasis of Matter paragrapb i) We draw attention to Note 7 (a), (b), (c) and (d) of the statement which describes the uncertainty relating io outcome of following lawsuits liled against the Group: a. ln a complaint filed against the Company relating to imposing unfair conditions on buyers, the Competition Commission of India (CCI) has imposed a penalty of Rs. 630.00 crores on the Company which was uphetd by Competition Appellate Tribunal. The Company has filed an appeal which is S.R. Ittlibd E Co. LLP. a Limited Liability Parine6hig uilh LLP ldenlaty No. AAB'4294 Regd. Ollice : 22. C.ma( Stteet. Block'8, 3rd tloor. Kolkata'7oo 016
Page 12
S.R BenmoraCa LLP Cll.rt]rd Accourtantr currently pending with Hon'ble Supreme Court of India and has deposited Rs. 630.00 crores under protest as per direction of the Hon'ble Supreme Court of India. Similar case has been filed against one ofthe subsidiary company with CCI which is pendingwith Hon'ble SupremeCourtof India. No penalty has been levied in the said case. b. In a writ filed with Hon'ble High Court of Punjab and Haryana, the Company, one of its subsidiaries and a joint venture company have received judgments cancelling the sale deeds of land/ removal of structure relating io two IT SEU lT Park Projects in Gurugram. The Company, its subsidiary and joint venture company filed Special Leave Petitions (SLPs) challenging the orders which is cunently pending with Hon'ble Supreme Court of India. The Hon'ble Supreme Court of India has admined the maners and stayed the operation of the impugned judgments till further orders in both the cases. c. Securities and Exchange Board of India (SEBI), in a complaint filed against the Company, imposed certain restrictions on the Company. The Company had received a favorable order against the appeal in said case from Securities Appellate Tribunal (SAT). SEBI, subsequently, has filed a statutory appeal which is currently pending before Hon'ble Supreme Court of India. SEBI has also imposed penalties upon the Company, some of its directors, officers, its three subsidiaries and their directors which has been disposed off by SAT with a direction that these appeals will stand automatically revived upon disposal of civil appeal filed by SEBI against aforementioned SAT judgement. d. In respect of ongoing legal cases, wherein one of the Company's subsidiary has outstanding trade receivables of t 396.86 crores from cuslomers, which is currently sub-judice. Pending final order from Hon'ble Supreme Court of India and at other levels the amount is pending recovery since long. Based on legal status and expert's view, the management is confident of its recovery and is considered that the amount is fully recoverable. Based on the advice ofthe extemal legal counsels, no adjustsnent has b€en considered in the statement by the management in respect of above maners. Our conclusion is not modified in respect of these matters. ?. The accompanying Statanart includes the unaudited interim financial results and other financial information, in respect of: o 72 subsidiaries and I partnership firm, whose unaudited interim financial results include lotal assets of Rs. 9,667.23 crores as at September 30,2026, total revenues of Rs. 182.99 crores and Rs. 349.59 crores, total net prolit after tax of Rs. 63.93 crores and Rs. 42.54 crores, total comprehensive loss of Rs. 63.79 crores and Rs. 42.40 crores, for the quarter ended September 30,2026 and the period ended on that date respectively, and net cash outflows of Rs. 9.97 crores for the period from April 01, 2026 to September 30,2026, as considered in the Statement which have been reviewed by their respective independent auditors. o I associate and 3 joint venhrres, whose unaudited interim financial results include Group's share of net loss after ta:< of Rs. 1.84 crores and Rs. 4.03 crores and Group's share of total comprehensive loss of Rs. 1.84 crores and Rs. 4.03 crores for the quarter ended September 30, 2026 md for the period from April Ol,2026to September 30,2026 respectively, as considered in the Statement whose interim financiil results, ofrer financial information have been re'!/iewed by their respective independent auditors. The independent auditor's reports on interim financial information/ financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosuies in respect of these subsidiaries, partnership firm, associate and joint ventures is based sotely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. 8. The accompanying Statement includes unaudited interim financial results and other unaudited financial information in resPect of: o I partnership firm, whose interim financial results and other financial information reflect total assets of Rs. 63.25 crores a:i at September 3l,2126,and totat revenuesof Rs. Nil and Rs. Nil, total net profit ! *
Page 13
S.R Bnruaot*Ca LLP Ch.rt r.d Aocontrntr after tax of Rs. Nil and Rs. Nil, total comprehensive income of Rs. Nil and Rs. Nil, for the quarter ended September 30, 2026 md the period ended on that date respectively and net cash inflow of Rs. Nil for the period from April 01,2026 to September 30,2026. a 2 joint operations, whose interim financial results and other financial information reflect total assets of Rs. 10.84 crores as at September 30,2026, total revenues of Rs. Nil and Rs. Nil, total net profit after tax of Rs. Nil and Rs. Nil, total comprehensive income of Rs. Nil and Rs. Nil, for the quarter ended September 30,2026 and the period ended on that date respectively, and net cash inflow of Rs. Nil for the period from April 01,2026 to September 30,2026. a I associate and I joint venture, whose interim financial results includes the Croup's share of net profit of Rs. Nil and Rs. Nil and Group's share of total comprehensive income of Rs. Nil and Rs. Nil for the quarler ended September 30,2026 and for the period ended on that date respectively. The unaudited interim financial information/ financial results and other unaudited financial information of these partnership firm , joint operations, associate and joint venture have not been reviewed by their auditors and have been approved and fumished to us by the Management and our conclusion on the Statemenl, in so far as it relates !o the affairs ofthese partnership firm , joint operations, associate and joint venture, is based solely on such unaudited interim linancial results and other unaudited financial information. According to the information and explanations given to us by the Managanenf these interim financial information/financial results are not material to the Croup. Our conclusion on the Statement in respect of matters stated in para 7 and 8 above is not modified with respect to our reliance on the work'done and the reports of the other auditors and the financial resultVfi nancial information certified by the Managemant. For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm registration number: 301 003E/E300005 dF\}\ per Vikas Partner Manbership No.: 094421 UDIN: !(@?qq}||JV Ploce: Gurugram Date: October 16,2026
Page 14
S.R Bnruaot*Ca LLP Chtit n dAccouot ntr Slrtcmctrt of subridirrics (ircluding prrtncrchip firmr), rrsocirte, Joirt vctrtrrcr rnd lolrt opcrrdoos hcludcd io tbc rcrultr of DLF Llmltcd S. No Comprny Nrmc Stt bs ifi odes aad pafitc n hb fi nw I Adana Builders & Developen Private Limited 2 Amishi Builders & Developers Private Limited 3 Ananti Builders & Construction Private Limited 4 Angelina Real Estates Private Limited ) Ati Sunder Estatcs Developers Privatc Limitcd 6 Baal Realtors Private Limited 7 Blanca Builders & Developen Private Limiled 8 Breeze Consructions hivate Limited 9 Cadence Builders & Constructions Private Limited l0 Chandrajyoti Estate Developers Private Limited il Cyrano Builders & Developen Privatc Limiled t2 Dalmia Promoten & Developers hivate Limited t3 Damalis Builden & Developen Private Limitcd l4 Delanco Realtors Private Limited r5 Deltaland Buildcon Private Limitd r6 DLF Aspinwal Hotels Privatc Limited t7 DLF Builden & Developcn Private Limited IE DLF Cochin Hotels Private Limiled t9 DLF Commercial Proiecls Corporation (Parhership Firm) 20 DLF Gayari Developers (Partnership Firm) 2t DLF Green Valley (Partnenhip Firm) 22 DLF Home Developers Limited 23 DLF Homes Goa Private Limited 24 DLF Homes Panchkula Private Limited 25 DLF Exclusive Floon Private Limited 26 DLF lnfo Park (Pune) Limited 27 DLF lnfo City Hyderabad Limited 2E DLF Luxury Homes Limited 29 DLF Office Developen Private Limited 30 DLF Proiects Limited 3l DLF Property Developen Limited t2 DLF Clubs and Hospitality Limited (formerly DLF Recreational Foundation Limited) 33 Gaynor Builden & Developers Private Limiq4l 34 Hathor Realtors Private Limited 35 Hesper Builders & Developers Private tiqlte4 t6 Hurley Builders & Developen Private Limilcd t7 lsabel Builders & Developers hivate Limited 3E Karida Real Estates Private Limited t9 Ken Buildcon hivate Limited 40 Kokolath Builders & Developers Private Limited 4t Kolkata lntemational Convention Centre Limited 42 Lodhi Property Company Limited 4l Milda Buildwell Private Limited 44 Mohak Real Estate Private Limiled 45 Muriel Builderc & Developers Private Limited 46 Musena Builders & Developers Private Limited 47 Nadish Real Estate Private Limited 48 Naja Builders & Developers Private Limited 49 Naia Estates Developen Private Limited 50 Nellis Builders & Developers hivate Limited 5l Niabi Builders & DeveloPers Privatc Limited 52 Niobe Builders & Developers Private Limited 53 Paliwal Devclopen Limited 54 Qabil Builders & Developers Private Limited Anncrurc I S. No. Compary Nrmc 55 Racks Estatcs D€velopers Private Limited 56 Pational Builders and Developers (Partnenhip Firm) 57 Riveria Commercial Developen Limited 58 Rochclle Builden & Consructions Private Limited 59 Rujula Builden & Developers Private Limited 60 Senymour Builders & Constructions Private Limited 6t Shivaji Marg Maintenance Services Limited 62 Skyrise Home Developers Private Limitcd 63 Sugrccva Buildcrs & Developcrs Private Limited 64 Talvi Builden & Developers Private Limited 65 Tane Estates Private Limited 66 Tatharaj Estates hivate Limited 67 DLF Residentid Parhers Limited 68 DLF Southem Towns Private Limited 69 DLF Utilities Limitcd 70 Domus Real Eslate Private Limited 7l Flecrise IFSC Private Limited 72 Edward Kcventer (Successon) Privatc Limited 73 DLF Wellco Private Limited (formerly Ethan Estates Developers Private Limited) 74 Farst India Estates & Services Private Limited 75 Galleria Property Management Services hivate Limited 76 Garv Developers Private Limited 77 Uncial Builden & Conslructions Private Limited 78 Unicom Real Estate Developen Private Limited 79 Urvasi lntatech Private Limited 80 Highvista Buildcon Private Limited (formerly known as Vikram Electric Eouioment Private Limited) EI Zanobi Builders & Consuuctions Private Limited 82 Zebina Real Estates Private Limited 83 Zima Builders & Developers Private Limited Assocfules t4 Arizona Global Services Private Limited 85 GHL Hospital Limitcd foin vcnturs DCCDLGmUp 86 DLF Cvber City Developers Limited t7 DLF homenade Limited 88 DLF Asses Limited 89 DLF Power & Services Limitcd 90 DLF lnfo City Developers (Chandigarh) Limited 9t Fairleaf Real Estate Private Limited 93 Paliwal Real Estate Limited 94 DLF lnfo City Chennai Limited 95 Nambi Buildwell Limited Other toinl venares 96 DLF Midtown Private Limited 98 Westpark Developers Private Limited (formerly known as Pegeen Builden & Developerc Private Limited) 99 Arium Plac€ Developers Private Limited Dcdmplas Grotrp r00 Private LimitedDesicnplus A$ociates Service t0t Spazzio Projects and lnteriors Primte Limited tolnlOpcroluns t02 Banjara Hills Hyderabad Complex (AOP) GSG DRDLAOP @ai)Limited -E-TDLF SBPL Developer Private Limited -t03 |
Page 15
DLF Limited Scgd Officc: Shopping MrlL d Flmr, Ariun Mrg, DLF City, phrc t, Gurugm . 122 (X)2 (Hrryue), tndie. CIN - L70t0tHRl953PtfflXltt{, Vcbcarc : rw.dtf.an Tcl.: +91-UL.f33a200, Em.itr corpor..crafrin@df.in STTTEMFNT OF UNAUDTTED CONSOLTDATFD FTNANCTTL RFSULTS FOR THE OI IARTFR AAIN HALF YEAN ENDFN 30 SEPTEMRER M25: 4,FA in c.orca ul63 SL NO. PARTICULTRS QU^NTER ENDED HALP YEAR ENDED YEAN ENDED il.09.miu (Uneuditcd) 3{t.(r.2026 (Unaudited) fi.$.w25 (Uneuditcd) 9.09.2026 (Uneuditcd) n.09.2025 (Unauditcd) tt.03.2w ( udarcd) 7 3 { 5 6 7 I I l0 ll t2 t3 l.t t5 t6 t7 Revcoue fmm qmn<ns Otbcr income (refer nore 8 arrd l(|) monc (ixt of lard, plors, consmrcted pnperdcs, devctpmenr nghts trd oihm l imployee boefits cxpcnr Ftrarce costs l)eprccietion and amonisrdor crpelse ()tha erpatses cxFnSc6 bcforc cxccpiond ircmc, tu, ehrc of profit in rcaocirrco rnd irinr(t-2, items (afer notc 8 ard 9) bcforc tu md rhm ofpro6r in eseocieacs .nd i)ina ycnaucs (!+l) cxperuce for rhc pcioil/yct (lumrt or @) Tar rclarirg rr edio penrd/ycan (c) l)efmcd ur ts c4rnrc for rhc pcdod/ycu aftcr cxccpiond itcme, rrx md bcforc rhrc of profir in osocaaacs and vcnnrcc (!'O ,of pro6t io rssrrotes rud 6llr rmrurcs (ner) profit for thc pcriod/ycar p+91 comprchcmivc (o*) lrcms rhrr will nor bc rclersifred to pm6t and loss lnc<mc ter relating to irrms dmt rvill nrn bc reclassified to pohr aod loss olhcr comprchcEivc 0os) cmprchcmivc incomc for thc pcriod/yc.r (9+10) pm6r for thc pcriod/ycr etdbureblc ro: of rhe holditg comprny xtlercsts comprchcndvc incomc/(oss) .ndburrblc to: of tlrc holding comprny \m.cotrt(illing intwsrs compahcneirc incom rtuiburrUc ro: of rbc holding compmy trtlflsts cquiq sharc capal (facc talue of I 2 pcr shrrc) quiq' pcr cquity rherc (frcc vduc of? 2 per sherc) (not mnudiece Basic (?) l)iluted t 260.58 t 1t76.72 2J.97_n 750.t 8 l7r.o7 t8.22 38.4) it)8.31 w.% r,003J2 r,003J2 .t3.{9 tr7.76 mt25 802.O tw.28 rJ0t.3s (r.6e) l).t I (0.$) rJ00.?? r J)1.35 IJOIJS I Jx,.77 t 300.?? 195.06 i.23 ).2) t28{r.3{ 725.22 t,605.56 7t{.3{ t16.67 17.62 ti.l.t 279.o7 ut2.80 422.76 4t2.76 29.t2 8i.27 u4.69 308.fi {85.83 ?9t.90 r.t2 79t.52 797.qt Dt.90 (,.38) (0.3r) 7r7.12 ?9t.52 .195.()6 7.2t 3.2t 1.6{3.(H 618.76 2J6t.N 935.0{} l{6.r)3 63.12 29.5.r 218.ti r,4s2.t{ 809.66 27:r.19 I,0{4.t5 60.3t 2t 6.r)t n632 768.53 .ll t.56 Lt80.0!l (r r.eo) 2.86 (9.0r) L17r.05 l,t8l).(,9 r,180.09 I,t 7t.05 L17r.0t .195.{)6 1.77 1.77 2,510.92 t,36t.9{ 3,90186 rJ6r.52 355.7{ 35.8{ 17.71 5{7.3{ \476.78 H26.08 !426.08 72.91 217.o3 3r3.9t t uo.t{ 985.t I 4Ut3.2s (r.re) n.27 2,094.29 2.tDi.2i \0es.25 2!9t.n \UN,29 {95.06 8.{6 8.46 {J5r.7{ 882.9{ 32r2.68 2,8E3.33 29i.78 I {l.69 6.t.01 518.3t 39t1.72 t)21.% zti.t9 r,560.t5 r 53.63 233.81 409.5{t r,r50.65 192.| 1942.76 2.92 t,9t7.v, 1,9t2.76 1942.76 (5.6e) 1977.n7 t,9t7.vt .r93.{)6 7.85 7.85 8,19{.02 ts22.o2 9J16.04 {,848.57 6{).3r, 199.o7 t{2{t t 256.79 ?,08?.t{ Ua.n 4t2.92 2,9tt.E2 l25.lo 223.11 n9.9 2,62t.t5 t,792.87 aJr{.6t (8 r.85 {,t08.:t4 4,4t{.68 4Jr.58 {,{r)8.34 4,t08.:t4 {95.r}6 fl,978.31 r7.83 r7.83 Gurugram f
Page 16
DLF Limited Rcgd. office: sboppiog Mr[ 3d Floor, Ariu Merg, DLF ciry, phesc I, Gurugnm . lll2 fl)2 ereryeae), tod-e. CIN - L70l0lHRl96PIfqla84, Vcbsia : w*w.dU.in TeL: +9l.l2rl-l3iA2(X), EodL corporarcefiiin@ts io Statemenr of Unaudired Consotidated Ass€re and Liabilitiee: 4,FA io crorcs uolcoo othcrvisc Prniculera Ae ar n.0.m26 (Uoauditcd) As rt 3t.$.m?6 (Auditcd) lnresEncnts loans Other financial asscrs lincludes bank deposirs of t 1,1 16.85 crorcs (31 March 2026: t 5JX)5.51 crcres)l in joint vcnnrrcs and associates non-currenl assets irst€ls asseLs asEC13 tas assets (nct) us asscts (ner) lnvestment propcrty work-in-progress plant and equipment )ther intangrblc asscts assets undcr development (168.04 t|2.10 2,812.71 9U.25 107.49 7.62 101.65 21,785.12 632.96 42.U 1266.81 1,r 84.1I 1tt97.32 1,643.59 592.12 158.72 2,360.63 9U.25 117.77 3.04 99.41 20,481.01 638.21 663.31 5,170.64 l,4l0.t 5 1246.86 I,5r 5.5{) Iotd ooo.curlcot rsseta 32$2.4t t5,4/,t22 Curent rsscts Inventorics Finocid eseeo lnvestment$ 'lrade receivables Cash and cash equivalents ()thcr bank balanccs laans Other financial assers lincludes bank dcposirs of t I (l,725.6lcrorcs (31 March 2l)26: { 1,305.37 crores)l Othcr currcnt asseLs 528.6J 903.28 992.0t 2,176.26 1,094.12 1 1,735.04 2,8/.t1.42 25,452.98 572.97 847.38 2271.22 5,473.18 u8.39 2,z&t.19 2,8{)8.84 24,717.48 Totel currtot esects 45,683.?6 39A22.25 Asscts classificd as held for salc 47.E{) 51.30 Toal essctt ?&103.9 749t4.?1 EQI'IIY AND LIABILITIES EC"ity F4uity share capial ()ther ciuity 495.06 45tt92.35 495.06 44978.11 Equiry ettributeble ro oslcrs of Holdiog Compaoy 45587.4r 45,n337 Non-controlling interests Totel equity 45pgr.4r 45A7337 Noorurreot liabilities Fioancid liebilitics kase liabilides Tradc payables (a) total outsunding dus of micro cntcrpriscs and small enrerprises (b) roral outstanding ducs ofcrcditors other than rnicro cntcrprises and small entcrpriscs ()ther non-currcnt fi nancial liabilities Provisions Defered tas liabilities (net) Other non-current liabiliues 794.19 370.82 l 1E.12 2,159.94 r67.5E 257.59 794.19 356.84 107.75 2,r 43.r 8 147.91 250.54 Totel non-cuneot li.bilitics ,,ffiE.U 3,800.4r Cuncor liabilities Fioeocid liebilitice Bonowings I ease [abilities 'l'mde payablcs (a) total oustanding dues of micro enterprises and small enrerprises (b) total oursanding dus of crcditoni othcr than micro enterpriscs and small enterpriLscs ()ther current financial liabilities Other current liabiliucs Provisions Currcnt tes liabilities (net) z-\- 710.76 1327.54 417.79 26,797.12 83.70 35.01 u.95 I1.85 529.29 1,190.30 34{).59 27,796.21 79.38 9.85 44.95 10.4{) Toul curreat lirbilitice ZEE'>\ 2f.54832 ?s,ffi.y) Totel cquity end liabilitice ^rZiFoTN //-r'/ \SL\ ?8,103.97 74,tt4:f1 t Gurugram
Page 17
DLF Limited Rcgd. office: Shopping Malt 3rd Fbor, Ariun Marg, DLF city, pbaec I, Gung na - l2ll0D, (tleryaoa), Iodia. CIN - L70!01HR1963PLC00484, Vebsite : um'w.dlf.in T eL: +91-124-43.342fl), Emeit corporareafrein@dU.in Statement of Uaaudited Coneolidered Caeh Ftow for rhe period ended 30 Septe mbet N26: fl,FA in croree unhce othcr$ise sr.Ed) fi.w.20u (Uoaudired) Particulara A Profit bcforc tax and share of pmfit ia aegocietcs and irint vcnturcs Adiuarmcnrs fon Depreoauon and amonisation expcnsc l)rofit on sale of property, plant and equipmcnt and inrestmcnt propcrtv (net) Rental income <n account .f discounung .f secunty dcposits an<t straight lining cffect lntercst incomc (including fair raluc changc in financial insuumcnus) (Pro6t)/ loss on fair valuation of financial instruments (net) I oss on foreigr curency trarusactions (nct) Financc cost Profit on tlsposal of inr.estmcnus (net) Allowancc / wntc ofPs of financral and non-financ.ial asscLs and prorisions Amount f<rrfcitcd on proprrtics Unclaimcd balances and cxcess provisions rvrittcn back Provision f<rr interest incomc writtcn back l.lxceptio,nal iterrus (nct) Opcratiry pofir beforc working cepitet chenges Vorkiog capital ediuetmenrs: (lncrca.se)/ dccrcase in invcntories lncrea.sc in other financial assets and loans (lncrease)/ decrcasc in other non-financial asscts (lncrease)/ decreasc in tradc receivablcs lncreasc / (dccrease) in othcr financial liabilities lncreasc in other non-finanoal liabihtics lncreasc in prorisions l)ecrea.sc in trade payablcs Ceeh lbw from opemting activities posr working capiul ch.oges lncomc tax rcfunded/ (pair.l), ner Net cesh llow generared from opcrating activitice (A) B CASH FLOVS FROM INVESTING ACTTVITIES l\rchasc of property, plant and cr.;uipmcnt, investment property, inungiblc assets and capital rvork-in-progress l)roceetls from salc of property, planr and equipment and investmcnt property l\rcha.sc of invcstmeats l)tocccds from disgxal / rcdcmpnrm of inrcstmenus Prrrcccrt from disprxal of mutual funtls l\rtchase of investrnert ;n mutual funds Lrnn $ren l,oan receivcd back (lnvestmcnt in) / rcdcmptron of fised dcprxits rvith maturiry more rhan 3 months (ncQ lntcrest r€ccired l)ividend reccitcd Ner cesh llow (ueed in)/ gcncrercd from iovcsting activities (B) C CASH FLOVS FROM FINANCTNG ACTIVITIES Repaymcnt of dcbentures (including currcnt mailriBcs) Repaymcnt of non-current borrrrvinp (inclur.ltng currcnt maturitics) Rclayment of currcnt borrorvingp, net Finance cost paid Repaymcnt of leasc liabilities (lncreasc)/ dccrcase in restricted bank balanccs (ner) Dividend paid Nct caeh lbw ueed in finenciog ectivities (C) Nct (decrcesc)/ incrceee in cash aod cesh equivalcom (A+B+C) Net foreign exchangc diffcrcncc (lash and cash ctluivalents at thc beginning of thc year (oet of overdraft) Cash and cash equivahnts ar yc.r eod (nct ofovcadraft) Componeno ofceeh and cash cquivehnts at yeer end (lash and cash c.quivalcnts Gurugram fi.09.m2rt (Uneudited) rA2n.08 73.34 0sa (73e. r.1 I 35.84 20.22 (10.8s) (30.36) t90.74 (r,r (2s. 014. (47 33.96 3,036.tI 2.99 ((r0 l5) 1,83284 120.53 1,953.37 4.36 45.(X) l 1.59 (1e.78) 42.27 (1,84n.63) 145.54 4t9.5n (t,26.94) (r 2.s4) (1 3.ss) (t,ele. ) 717, )) 92.03 992.01 9p/2.0t (r (1 u50.r5 64.01 (3ss. t,898.02 (r 5.(X) ((,m.m) (r (281 0.47 .9441. (4. (el 141.69 385.14 663.92 (235.1 136.71 (61 22s3.81 (sl (3E9. 9.6J (s7.1 r.85 (0.1 (61s. (1 210.52 1,n63.78 421.94 86.03 44fi.73 1,136.65 l,lx.6s 14.79 (2.73) 751.51 1,135.65 t7t:t.74 41.07 1,719.4(t 5.16
Page 18
1 2. Notes to the consotidated Financial Resurts DLFL The above consolidated financial results of DLF Limited ("the Company'), its subsidiaries, partnership FEms (together referred as "the Group') and its ioint vennues, ioint operations and associates have been reviewed by the Audit Committee and approved by the Iioard oiDir..tor, "tits meeting held on 16 October 2026. The statutory auditors have carried out Limited Review of above consolidated financial results of the Group. These consolidated financial results have been prepared in accordance with the recognition and measurement principles of Indian Accounting Standards (nd AS) as notified under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules,2015 as amended. The said consolidated financial results represent the results of DLF Limited (,the Company'), its subsidiaries, partnership Frms (together referred as "the Group'), its iointoperations and its shate in results of ioint ventures and associates which have been prepared in accordance with Ind AS-110 -'Consolidated Financial Statement'and tnd AS-28 - lnvestment in Associates and Joint Ventures'. The standalone Enancial results of the Company for the quarter and half year ended 30 September 2026 are available on the company's website https://'ururur.dlf.inlinvestor.php. 4. etandalone fi nancial information is below: tin crore6 During the quarter, the Company in its 61n Annual General Meeting held on 3 August 2026,has declared dividend of t 8 per equity share (On the face value of t 2 per equiry share) amounting to < 1,980.25 crores. 3. 5. Quanet ended HaIf year ended Year endedPatticulats 30.09.m26 (Unaudited) n.M.m25 (Unaudited) fi.09.m2s (Unaudited) 30.09.m26 (Unaudited) n.09.n?s (Unaudited) fl.$.mxi (Audited) Total income 1,386.19 479.61 t,582.39 1,865.80 2,193.39 6,739.74 Pro6t before exceptional items and tax 824.35 87.23 983.35 911.58 1,031.93 4,276.29 Exceptional items 235.19 235.19 214.45 Pro6t before tax 824.35 87.23 1,218.54 91r.58 1,267.12 4,490.74 Net pro6t for the period/year 800.32 65.34 1,012.51 865.66 1,051.91 3,747.97 Other comprehensive rncome/(loss) 1.39 (0.e4) (s.18) 0.45 (s.2e) (3.74) Total comprehensive income for the period/year 801.71 64.40 1,007.33 866.r 1 1,046.62 3,7U17 Gurugram
Page 19
DLFA 6. Notes to the Consolidated Financial Results Consolidated segment wise revenue, results, segment assets and liabilitiee As the Group is in process of commencing operations of several rental generating commerc ial/ rctul real estate properties leading to increased relevance in the overall portfolio, Rental business (mainly comprising of commercial/rctul rent generadng business) has been identified and reported as a sePafate segment from the previous quarter. Further, Group's real estate segment comprise of all other red estate development and a.cillary activities. The operations of the Group are domiciled in India, therefore, there are no reportable geographical segment. Details of Consolidated segment- urise revenue, results, assets and liabilities is given below: m (#) Gpial employed = S€gm€nt asseti . Segment liabilitis Sl No Paniculalg Quner Ended HdfYer Ended Year Ended n.09.fr25 (Umditcd) fi.6.W25 (Unaudited) fi.ul.Nts (Unadited) fi.$.wx (Unardited) fi.$.m2s (Unaudited) $.$.ma; (Audited) Sclmcnt Revcnuc a) Real l-isurc b) Rental Toral Scgmcnt Revenuc less: lnter Scgmcnt rctenue Nct Revenuc iom Opcretione I,1r)2.98 1 6{.57 t267ss 6.91 t3fisE 1,1.1{r.8.1 1{5.66 1286.{9 6.t 5 L2m34 1,y,9.t,(, 1.11,.28 1,61934 6.70 t,543.04 2,2{3.8r .110.23 2J54.04 13.12 2540.92 1,ff)3.67 271.99 4370.6 10.92 {J59.74 7 {t12.76 373.22 82n.n 23.96 8,194.02 II $gncnt csuhs a) Reel l-)surc b) Rcnal (rcfcr notc lll) Pmft bcbrt exceptiond ircms, interc$,1.r .nd sharc ofpmGt in eesocietes ond iior vcnrurts Irss: Finance crxt lrss : Othcr unallocated espndinrrc (net of incomc) Prc6t bcbrc exoepriond itcms, tex, shere of prcfit in oscociles rnd irint Yclrtutts F)sceptional items (refer note I and 9) Pm6t bcbrc ux, sberc ofpo6t in ascocieres .nd irint venturts Sherc ofprc6t/(loss) ofirinr vcnrurce (ner) r) Real l-*tatc b) Rental Totrl zJ"l'.61 It5{.r){ 1,098.?l 18.22 71.11 w0132 1p0332 (3.rs) 502.{3 49,28 398.78 82.86 48r.54 11.62 11.26 4n.76 4?2,16 (3v) {89.82 485.83 8v).{7 tl{1.(r5 980..t2 (r3.1 2 107.3{ 809.66 235.19 t,u435 (7 37) {18.93 4u56 6+3.+5 936.lX' lJ803s 35.8{ I 18.+3 L{26.08 1,426.05 0.14) 992.25 985.lr 1,{33..13 156..16 1,t89.?l 1+1.69 123.(l(, t)4.% 235.19 1560.r5 (r6.el) tt{)9.r)2 7nil 2937.37 326.6+ 32842t 199.()7 356.2{ zla.n 202.92 1e3t$2 (228e) 1,815.72 \7nEl llt Scgmnt ecsete (#) a) Rcal F*arc b) Renul c) Unallcrcaed arscs Tord acscts {7,338.1 5 2{,31 5.7t (r,{5{,.1 1 78J03.97 {.1,(x8.57 21,8r)+.(ilr 8,351.89 7?.063.06 .t{,,395.51r 2j,735.80 {,808.7(r 6t.9{0.1{ {7,338.15 2{,31 5.71 (,,{5{}.1 I aJB.97 {0,395.58 23,7.15.8{r {,8r)8.76 68,9{0.14 u,o2o.79 1j,319.(18 7,53{.3{, 74i74n N Segncnt Iobilities (#) a) Rcrl Flstatc b) Renul c) Unallocated liabilities Totd [ebilitics 29,3+7.82 705.1r.1 2,t62.90 325t656 27,67J.38 672.(tt) 2,{51.10 30,798.17 21,771.17 ('1{.29 3,552.57 2r,938.03 29,3+1.82 7()i.8{ 2,t62..y| 32Jr6J6 21,711.11 611.29 3,352.37 25,938.03 26,316.(X' 621t.(n 2,{57.31 29.()r.$ Gurugram
Page 20
DLFA 7 Notes to the Consolidated Financial Results Key lidgations: ") (D In a complaint Frled by Belaire/Magnolra/Park Place owners association against the Company ,1l.gr"g unfair conditions on its buyers, the Competition Commission of India (CCI) had imposed penalty of t 630.00 crores, which is also upheld by the Competition Appellate Tribunal (COMPAT). The Company had frled an appeal before Hon'ble Supreme Court of India (Hon'ble Coutt) against the said order which the Hon'ble Court admitted vide its order dated 27 August 2014 and the Company deposited < 630.00 crores on Hon'ble Court's direction and has shown the same as recoverable in the books. The Company has filed an application seeking refund including interest, which is to be listed along-with main appeal in due course. (ii) CCI vide its order dated 14 May 2015 had directed one of the subsidiary company relating to New Town Heights Project, to cease and desist in implementation of the terms and conditions of Apartment Buyer Agreement which is found to be unfair and abusive. No pendty has been imposed by CCI. Appeals frled by the Company were dismissed by COMPAT and the order of the COMPAT was challenged by the Company, before the Hon'ble Court. The appeals have been tagged with the main appeal (mentioned in Para-a(i) above). The above matters are pending for Frnal outcome. b) [n a matter, the Hon'ble High Court of Punjab and Haryana passed order against the Company, one of its subsidiaries and a joint venture company cancelling the sale deeds of land/removal of construction relating to two IT SEZ/ IT Park Projects in Gurugram admeasuring -56 acres. The said order was challenged by the Company before Hon'ble Supreme Court of India and the rrntter is stayed till fi.uther orders. .) The Securities and Exchange Board of India (SEBI) issued a Show Cause Notice (SCN) dated 25June2013 to the Company for non-disdosure of material information at the time of Frling Red Herring Prospectus in2007. The SEBI vide order dated 10 October 2014 restrained the Company and its Officers/certain directors from accessing the secudties market and prohibited them from buyrng selling or othenvise dealing in securides, directly or indirectly, in any manner, whatsoever, for a period of three years. The Company and the said Directors filed appeals before the Hon'ble Securities Appellate Tribunal (Hon'ble SAT) agninst the aforesaid Order dated 10 October 20l4.The Hon'ble SAT vide its order dated 13 March 2015 quashed and set aside the order passed by SEBI. Ag{nst Hon'ble SAT's order, SEBI filed an appeal with the Hon'ble Supreme Court of India (Hon'ble Court), which stood admitted vide order dated 24 April 2015 without granting any interim stay in favour of SEBI. In October 2015, SEBI filed applications before the Hon'ble Court seeking, restraint on the Company, its promoters and/or directors from proceeding with the sale of 159,699,999 Cumulative Compulsorily Convertible Preference Shares of DLF Cyber City Developers Limited held by the promoter group companies to third party institutional investors. The said applications came uP for hearing before the Hon'ble Court on 4 November 2015 and the Hon'ble Court did not pass any orders restraining the transaction and simply directed that the said applications be listed along with the earlier appeal. Gurugram
Page 21
8. Notes to the Consolidated Financial Resulrs DLFA SEBI issued a SCN making allegations similar to the SCN dated 25June2013. Similar SCNs were also issued to three subsidiaries, their directors and certain othei entities. By way of order dated 26 February 2015,. the Adiudicating Officer, SEBI imposed monetary penalties upon Company, some of its Directors, its erst'while CFO, its thee iubsidiaries and ,'t.ir Oir..torr. The Company and other parties aggrieved by the aforesaid order 6led appeals before the Hon'ble SAT against the order dated26 February 2015. When these appealr-*.r.listed before Hon'ble SAT on 15 April 2015, SEBI's counsel under instructioni-stated that during the pendency of the said appeals, the Order dated26 February 2015 would not be enforced]The Hon'ble SAT vide its order passed on 25 April 2018 held that in view of Hon'ble SAT's maiority decision dated 13 March 2015, the SEBI Order dated 26 February 2015 cannot be sustained. Acggrdingly, the Hon'ble SAT disposed off the appeals with a direction that these appeals, shall stand automatically revived once the Hon'ble Coun disposes of the civil appeals irGa Uy SEBI apinst the Hon'ble SAT's judgment dated 13 March 2015. The matters are pending for Enal outcome. d) A subsidiary company has total outstanding trade receivables from Coal India Limited and its subsidiaries (together referred to as "CIL') amounting to t 259.68 crores. The subsidiary comPany and CIL had approached Jharkhand State Electricity Regulatory Commission flSERC) for fixation of tariff, who passed the order in favor of the subsidiary company and the same was upheld by Appellate Tribunal. CIL filed appeal before the Hon'ble Supreme Court of India (Hon'ble Court) which issued order dated 14 September2}l2directing-IL to P^y taritt 6xed by JSERC as confi.rmed by Appellate Tribunal, however, the said amount is still pending recovery. The subsidiary company believes that pending final disposal of the matter and keeping in view the interim relief granted by the Hon'ble Court the amounts due from CIL ate fully recoverable. In addition, there are other similar cases from other customers wherein arnount involved is ( 137.18 crores and the subsidiary company is confident of its recovery based on the Court decisions till date and legal advice. Based on the grounds of the appeals and advice of the independent legal counsels, management believes that there is strong likelihood of succeeding in respect of above matters. Pending the final decisions on the above matters, no adiustment is required to be made in these consolidated financial results. The above litigations as mentioned in point 7 (r), O), (c) and (d) are subiect matter of Emphasis of Matter'in Independent Auditor's Review Report. In eadier yea:s, several disputes arose between the shareholders of Twenty Five Downtown Redity Limited [formerly known as Joyous Housing Limited flHL)] involving the Company as one of the shareholder, which were pending at various levels including arbiuation proceedings for recovery of the Company's endre outstanding dues, inclusive of interest, fromJHL In the previous year, consent terms were executed between the parties concerned and a consent award was passed by the Hon'ble Atbitrator whereby JHL had agreeded to pay to the Company a sum of < 801.00 crores (along with interest payable in accordance with consent terms which was accounted for) towards repayment of its dues and setdement of all ongoing disputes. Out of the settlement arnount, the Company has already received < 251.10 crores and outstanding balance is secured by way of a first and exclusive mo4gage over identified carpet area of residential real estate units of a RERA registered project. Pursuant to the consent award, the Company had withdrawn all proceeding/notices filed againstJHl and other concerned parties in various forums. Accordingly, the Company in the previous year had reversed the impairment loss, recorded in earlier years, of < 235.19 crores as an excepdonal income and balance of 7 411.72 crores is considered as receipt of interest income which was maiorly years, as other income. Gurugram accrued and over a period of time
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9, DLFAI On 2l November 2025, the Govemment of India notiEed the four new Labour Codes (the Code onWages, 2019, the Indusuial Relations Code, 2020. the Code on Social Securiry, 2ti20, and theOccuPational Safety, Health pd )vorking Conditions Code, 2020) consolidating i6 e*isting laboutlaws' The Group had assessed and accounted for the incremental impact of thesJchanges aniounting <.32'27 crores {Y"g the yeat ended 31 Match 2026 which *as disclosed as "Excepti"onal items,, inthe consolidated financial results in the previous year. Il9. earlier years, the Group had invested n 360,63215% Compulsorily Convertible Debentures (CCDO having a tenure of 17 years from the date of issue in mdtple tranches. During the period loralorium period for 3 tranches co_mprising of 243,140 CCDs has expired, accordingly,Iho..-CcD. have been fair valued through profit & losi in accordance with Ind AS 32, Financi"J Instruments: Presentation, and lnd AS 109, Financial Instruments, resulting in garn of 1738.71 crore which is included in other Income in the Statement of Pro6t and Loss d*i"g ih. q,rrrt., and period ended 30 September 2026. The 6gues for the corresponding previous peiod/year have been regrouped/reclassified, wherever necessafy. 10. 11 On behalf of the Boatd of Directors of DLF Limited w ur\" Place: Gurugram Date: 16 October 2026 Devinder Singh Managing Director DIN:02569464 Ashok Kumat Ty^g, Managing Director DIN:00254161 E * Gurugram w