DLF Ltd.

Building the growth

Table of Content
Executive Summary Background History, Year of Incorporation & other details Demographics Location, Branches, Employee details Legal structure Ownership, M&A / JV/ Acquisitions Organizational Structure Leadership, Organizational

Operational Profile

Products /Services

Financial Summary

Historical revenue growths Stocks Performance

Company Initiatives & Strategy Annexure

Company in the press

Executive Summary
DLF Limited or DLF (Delhi Land and Finance) is the India's biggest real estate developer based in New Delhi, India. DLF Limited, is India's largest real estate company in terms of revenues, earnings, market capitalisation and developable area. It has a 62-year track record of sustained growth, customer satisfaction, and innovation. The DLF Group was founded by Raghuvendra Singh in 1946.DLF developed residential colonies in Delhi such as Krishna Nagar, South Extension, Greater Kailash, Kailash Colony and Hauz Khas. With over six decades of excellence, DLF is a name synonymous with global standards, new generation workspaces and lifestyles. The company is currently headed by Indian billionaire Kushal Pal Singh. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2009, now stands as the 98th richest man in the world and the world's richest property developer.

History
The DLF Group was founded in 1946. It developed some of the first residential colonies in Delhi such as Krishna Nagar in East Delhi, which was completed in 1949. Following the passage of the Delhi Development Act in 1957, the state assumed control of real estate development activities in Delhi, which resulted in restrictions on private real estate colony development. It herefore commenced acquiring land at relatively low cost outside the area controlled by the Delhi Development Authority, particularly in the district of Gurgaon in the adjacent state of Haryana. In the 1970s and 1980s DLF purchased 3,000 acres (1,214 ha) of land from farmers in Gurgaon for $2000 per acre.

History

Demographics
The following map illustrates the locations of our developments, projects and lands across India,

Demographics

Vision, Mission & Values

DLF Vision To contribute significantly to building the new India and become the worlds most valuable real estate company. DLF Mission To build world-class real-estate concepts across six business lines with the highest standards of professionalism, ethics, quality and customer service DLF Values Sustained efforts to enhance customer value and quality Ethical and professional service Compliance and respect for all community, environmental and legal requirements.

Legal Structure
Laing O'Rourke- UK based construction company credited with constructionof Dubai International Airport, London's Millennium Tower, etc, will construct all DLF's landmark projects. Together DLF-Laing O' Rourke shall build the expressways, ports and other megastructures of India's new economy. Nakheel of Dubai are partnering with DLF for developing townships in India. WSP Group Plc is also partnering DLF, providing Management and consultancy to the built and natural environment. Feedback ventures, is providing consultancy for faster project execution to DLF. DLF has also tied up with Hilton Hotels to jointly develop hotels in India. DLF has merged with an american insurance company Pramerica and selling Insurance in India with the name of DLF Pramerica. ManesarSEZ: Signed agreement with Haryana government, land acquisition in progress AmbalaSEZ:Signed agreement with Haryanagovernment for AmbalaSEZ

Organizational Structure
Board of Directors
Chairman Kaushal Pal Singh Executive Directors Dr. K.P. Singh Chairman Mr. Rajiv Singh Vice-Chairman Mr. T.C. Goyal Managing Director Ms. Pia Singh Whole - Time Director Mr. Kameshwar Swarup Senior Executive Director - Legal Non-Executive Directors Mr. G.S. Talwar Dr. D.V. Kapur Mr. K.N. Memani Mr. M.M. Sabharwal Mr. Ravinder Narain Mr. B. Bhushan Brig. (Retd.) N.P. Singh

K. P. Singh, Chairman of the Board of DLF Limited,

Dr. Kushal Pal Singh, popularly known as K. P. Singh, is the Chairman of the Board of DLF Limited, India's largest real estate company with a pan India presence in over 30 cities across 18 States. Dr. Singh is widely recognized across the world for his path-breaking and visionary contributions to the building of modern India through his pioneering role as a real estate developer and corporate leader who has transformed the urban landscape of the country by setting new standards in the housing and urban development scenario and creating world class infrastructure to attract unprecedented levels of foreign and domestic investment inflows, generating new employment opportunities and changing lifestyles. Chairman and Director of 31 different private companies engaged in various sectors of the economy Dr. Singh is also actively associated with various educational and charitable trusts Dr. K. P. Singh is the recipient of numerous awards and honours. The most prestigious of which is the Padma Bhushan award, conferred to him by the Government of India on 26th January 2010.

Business

Retails

Houses

Offices

Golf Course

Houses
DLF pioneered townships and group housing in India Introduced the super-luxury and luxury category for homes Business model allows pre-sale of property prior to breaking ground, leading to positive cash flows Trusted brand with superior execution track record 195 msf of plots developed and 19 msf of Group Housing Societies since the launch of DLF City, Gurgaon First group housing project launched in 1996 Offering homes across different segments, namely superluxury, luxury and mid-income Around 477 msf available at present for potential development Of this, over 80% development to be in super-metros and metros

OFFICES
India forms an important part of growth strategy for every majormultinational worldwide Entry of multinationals has grown by over 300% in last two yearsalone leading to huge demand for office space Demand for IT/ITES services (expected to grow at 15-20% CAGR over FY2010-16) Indian corporatesgetting increasingly dynamic creating huge demand for quality office space Total commercial real estate demand likely to be ~ 450-530 msf by FY2011

OFFICES
DLF is the founder and pioneer of Grade A office leasing marketin India Offers a well-balanced mix of commercial office space including IT/ITES facilities, multi-tenant corporate office buildings and integrated commercial complexes 164 msf of developable area Existing client base of 70 Fortune 500 clients, out of a total 110 corporate client relationships Steady state achieved to deliver 12 msf on an annual basis Current run rate of pre-lease is 12 msf per annum Customer mix changing from IT/ITES MNCsto Indian Corporateswith increasing volumes Continue to leverage location advantages and deep customer relationships to enter new geographies

Retail
Modern retail formats in India command just 3% of total retail market, much lower than developed markets (US 85% share) and even Asian countries (Malaysia 55%, Thailand 40%, China 20%) Organized retail segment in India is expected to grow at a rate of 25% to 30% over the next 5 years. Organized retailing would require around 350400 msf of retail real estate in India by FY2016.

Retail
Given the scarcity of quality organized retail, DLF enjoys the benefits of a portfolio of premium locations across the country and rush by large retailers DLF envisages to introduce a new retail infrastructure to cater to the need for shopping malls and commercial centresacross al segments and all places in India DLF has plans for delivering 1 msf of luxury malls, 4 msf of shopping malls and 3 msf of neighborhood malls annually Current developable land resource earmarked for retail stands at92 msf All major retail players, including new entrants pitch aggressively for space in DLF Malls

Financial Summary
Turnover
Rs crore

Rs crore

47

13
411

FY06

FY07

FY08

Financial Summary
EBITDA
Rs crore

Rs crore

47

13 1 FY06 FY07 FY08

Financial Summary
PAT
Rs crore

Rs crore

47

13 1 FY06

FY07

FY08

Financial Summary
EPS
Rs crore

Rs crore

47

13

1 FY06

FY07

FY08

TO CONCLUDE
Indias largest real estate company in terms of revenues, earnings, market capitalisation and developable area with a 62-year track record of sustained growth, customer satisfaction andinnovation Robust business model with mix of development & rental earnings Low risk due to multiple businesses and segments within businesses, across geographies All earnings enablers in place high quality / high value zonedland resource in super metros & metros and motivated teams at local level to execute projects Businesses (Commercial, retail & luxury homes) which contributemore than 80% of our long term value are at stable operating platform Stupendous response to the launch of mid-income homesstrong validation of strategy Set to change the hospitality landscape in India-On way to set up 20,000 business hotel rooms in the next 5 years in partnership with Hilton -Acquisition of domain expertise & assets with buy-out of AmanResorts business Only developer with the experience of setting up of large townships Demonstrated the legal structure to monetize commercial assets as REITsin the offshore markets; listing in the near future

INFRASTRUCTURE
According to CRIS INFAC, investment in infrastructure will increase to INR 2,89,200 Crore in 2008 from INR 2,65,500 Crore in fiscal 2005 Significant portion of infrastructure development is expected tobe undertaken through public-private partnerships The current rate of infrastructure investment in India, at 3.5% of GDP, is well below the target rate of 8.0% proposed by the Expert Group on Commercialization of Infrastructure Projects DLF intends to benefit from LaingORourkes construction expertise and participate in the construction of infrastructure projects including roads, bridges, tunnels, pipelines, harbors, runways and power projects DLF LaingORoukeplans to not only deliver DLF developments on a panIndian basis but also to contract for external clients on a selective Leverage infrastructure projects to get access to large land banks e.g., adjoining new road projects MOU signed with FraportAG for development and management of airport projects in India

CORPORATE STRATEGY
Business organised on vertical basis: Homes, Office, Retail, Hotels, etc., each independent of

the other Same structure is followed not only at the corporate level, but flows down to the regional/local level DLF, at the corporate level, plays the role of an aggregator of businesses where stiff, competing interests of different SBUs and businesses get aligned, resulting in sum of parts being worth more than parts Going forward, DLF plans to monetize subsidiaries/assets to unlock the embedded value With core businesses reaching stable operating performance, focus is to aggressively ramp up new businesses like hotels, infrastructure, SEZs, etc. Key focus on execution of projects with current levels reaching a run rate of 62 msf across businesses (excluding Hotels) DLF will look into making small pureinvestments in non-real estate businesses, with target ROI of more than 20% The compensation structure within the mid / senior level empolyeesallows for participation in the success of various projects/businesses
-Base salary 30% with a 70% variable component linked to the KRAs, overall through stock options

AWARDS
Business Leadership Awards. G.B. Pant University conferred an Honorary Degree of Doctor of Science to Mr KP Singh

Execution
LaingORourke 50:50 JV with LOR, a leading UK based construction company with expertise in construction of infrastructure projects including roads, bridges, tunnels, pipelines, harbors, runways and power projects Created an opportunity to exploit new sources of revenue JV has commenced development of 16 projects covering a total area of 40 msf DLF-LOR has submitted tenders for construction of various infrastructure projects including roads, laying of railway tracks, airport terminals and a port

WSP 50:50 JV with WSP for engineering and design consultancy and project management services WSPs experiences include world class projects such as Freedom Tower at Ground Zero, New York; the Mall of the Emirates, Dubai; and major developments at Heathrow and Stansted Airports in London WSP to bring specialist staff and expertise from their global operations to support local professionals

Annexure
DLF, India bulls Real Estate Fall on Indias Tax Plan Indias Stocks Rise for Third Day; DLF, Jaiprakash Lead Advance ..March 2nd ..March 3rd