Key Metrics of Dlf Promenade Limited
About Dlf Promenade Limited
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 10 Jun 2026 | ICRA | Reaffirmed | — | — | Stable | ₹1.00 Cr | View |
Credit strengths (ICRA, Jun 2026)
+ Sustained growth in scale, NOI and improvement in leverage
The Group maintains one of the largest commercial real estate portfolios in the country, comprising ~40.4 msf of office assets (91% of total leasable area) and 4 msf of retail assets (9% of total leasable area) across prime locations as of March 2026.
+ Diversified lessee profile, supported by favourable location and high-quality development
The Group’s portfolio is spread across Gurugram, Chennai, Hyderabad, Noida and Chandigarh, with a reputed and diversified tenant mix comprising leading multinational and Indian corporates, wherein the top 10 tenants contribute ~24% of the leased area as of March 2026.
+ Strong promoters with established track record in managing commercial real-estate projects
ICRA takes note of DCCDL’s strong parentage, with a 66.66% stake held by DLF Limited (DLF) and 33.34% by the Government of Singapore Investment Corporation (GIC).
Credit challenges
− Exposure to refinancing risk
The Group is exposed to refinancing risk, as a part of the consolidated debt is unamortising in nature.
Could lead to a downgrade
Negative pressure on the ratings could arise in case of a significant decline in occupancy or rentals of the completed portfolio which might impact the debt protection metrics, or in case of any large capex or dividend outflows, which adversely impacts the company’s
Agency-reported financials (ICRA, 10 Jun 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹6,346 Cr | ₹7,309 Cr |
| PAT | ₹2,461 Cr | ₹2,722 Cr |
| OPBDIT/OI | 76.4% | 77.1% |
| PAT/OI | 38.8% | 37.2% |
| Total outside liabilities/Tangible net worth (times) | 2.80× | 2.70× |
| Total debt/OPBDIT (times) | 3.80× | 3.30× |
| Interest coverage (times) | 3.30× | 4.10× |
| Revenue growth (YoY) | — | 15.2% |
| EBITDA (margin × income) | ₹4,848 Cr | ₹5,635 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹18,423 Cr | ₹18,597 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1,469 Cr | ₹1,374 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term –Fund-based/Non-fund based –Others [ICRA] AAA () | Non-fund based limits | ₹1.00 Cr | ₹1.00 Cr | 0.0% | — | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 54% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 45% chance the next rating action is stable or better
- Interest coverage 4.1×
Rated limits by facility
Timeline
From the report
Nevertheless, the Group’s long and established track record of successfully developing and leasing office as well as retail space mitigates this risk. www.icra.in Sensitivity Label : Public Page |2 Liquidity position: Strong The Group’s liquidity position is strong, backed by cash and cash equivalents of around Rs. 515 crore as of March 2026, along with sanctioned working capital limits of Rs. ~2,000 crore as of March 2026, with limited utilisation, which acts as a liquidity buffer.
From the report
Nevertheless, the Group’s long and established track record of successfully developing and leasing office as well as retail space mitigates this risk. www.icra.in Sensitivity Label : Public Page |2 Liquidity position: Strong The Group’s liquidity position is strong, backed by cash and cash equivalents of around Rs. 515 crore as of March 2026, along with sanctioned working capital limits of Rs. ~2,000 crore as of March 2026, with limited utilisation, which acts as a liquidity buffer.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.