DLF Limited has informed the Exchange about Financial Results for Quarter and FY ended 31st March 2025
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DLF Limited's board, at its meeting on 19 May 2025, approved the audited standalone and consolidated financial results for Q4 and FY ended 31 March 2025. The statutory auditors (S.R. Batliboi & Co. LLP) issued an unmodified (clean) opinion on both sets of results. The board recommended a dividend of ₹6 per equity share (300%) on the face value of ₹2, subject to shareholder approval. The auditor flagged several ongoing legal matters as 'Emphasis of Matter,' including a ₹630 crore CCI penalty (deposited with the Supreme Court), IT SEZ land cancellation disputes, SEBI-related cases, and a dispute involving a former joint venture (JHL). The company also settled income-tax disputes for past years under the Vivad se Vishwas scheme, resulting in ₹235.71 crores in earlier-year tax and a corresponding ₹302.39 crores exceptional item. Additionally, DLF entered into a Master Framework Agreement to sell its Kolkata IT/ITeS SEZ business (~25.90 acres), with related assets/liabilities classified as held for sale.
The clean audit opinion and 300% dividend are positive for shareholders. However, the multiple ongoing legal disputes highlighted as Emphasis of Matter represent lingering uncertainties. The credit rating upgrade to 'Positive' outlook (AA/A1+) by both CRISIL and ICRA signals improved financial strength. The Kolkata SEZ divestment and tax settlements under VsV could further strengthen the balance sheet going forward.