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Sağlama record · BIST: DAPGM

DAP Gayrimenkul

DAP Gayrimenkul (DAPGM) shares are on Borsa Istanbul's participation index list (BIST Participation All Shares) for the period from October 1, 2026 to April 30, 2027. Source: Borsa Istanbul's list of participation index constituents, Oct 1, 2026.

Dated October 17, 2026No. SGL-2026-6A-DAPGM

Based on the financial statements for the first half of 2026, all three ratios are within the TKBB thresholds.

This is a measurement, not a religious ruling.

MEASUREMENT TABLE

Interest-bearing loans

within the threshold
12.7%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 4,636,663,688÷TRY 36,661,656,388 (total assets)× 100

RatioInterest-bearing loans / total assets

Upper bound. Debt items that may count as interest-bearing (line 6I of the KAFİF form) were taken in full from the public statements. Debts proven not to count (line 6J of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 8: “Ortaklara borçlar” TRY 10,235,247: undetermined, kept in the upper bound; “İlişkili taraflara borçlar” TRY 36,251,175: undetermined, kept in the upper bound; “Alınan depozito ve teminatlar” TRY 2,449,657: undetermined, kept in the upper bound; “Ödenecek vergi, resim ve harçlar” TRY 46,522,243: not counted (proven); “Validebağ projesi - Istlife borçları (*)” TRY 7,667,512: undetermined, kept in the upper bound; “Diğer borçlar” TRY 270,229: undetermined, kept in the upper bound; “Ortaklara borçlar (*)” TRY 1,824,347,600: undetermined, kept in the upper bound; “Alınan depozito ve teminatlar” TRY 4,029,452: undetermined, kept in the upper bound. Note 7: “1 yıl içinde ödenecekler” TRY 8,253,267: undetermined, kept in the upper bound. Note 7: “Uzun vadeli TL banka kredileri” TRY 1,268,582,923: undetermined, kept in the upper bound. Notes that could not be used: Note 7 (Current portion of long-term borrowings): the note's amounts could not be matched to this item automatically. The ratio is in the range 0.00% to 12.65%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Ortaklara borçlar · Other payables, note 810,235,247undetermined, kept in the upper boundTKBB Guideline 6.1
İlişkili taraflara borçlar · Other payables, note 836,251,175undetermined, kept in the upper boundTKBB Guideline 6.1
Alınan depozito ve teminatlar · Other payables, note 82,449,657undetermined, kept in the upper boundTKBB Guideline 6.1
Ödenecek vergi, resim ve harçlar · Other payables, note 846,522,243not counted (proven)TKBB Guideline 6.2
Validebağ projesi - Istlife borçları (*) · Other payables, note 8The company's note says: “Söz konusu tutarın tamamı Validebağ projesi için kurulan müşterek faaliyetinin müşterek ortağı Istlife Yapı Sanayi ve Ticaret A.Ş.’ye olan inşaat projesi kapsamında oluşan borçlardan oluşmaktadır.”7,667,512undetermined, kept in the upper bound
Diğer borçlar · Other payables, note 8270,229undetermined, kept in the upper boundTKBB Guideline 4.1
Ortaklara borçlar (*) · Other payables, note 8The company's note says: “Şirket hakim ortaklarının sermaye artırımında kullanılmak üzere gönderdiği nakit tutarlardan oluşmaktadır.”1,824,347,600undetermined, kept in the upper boundTKBB Guideline 6.1
Alınan depozito ve teminatlar · Other payables, note 84,029,452undetermined, kept in the upper boundTKBB Guideline 6.1
1 yıl içinde ödenecekler · Short-term borrowings, note 78,253,267undetermined, kept in the upper bound
Uzun vadeli TL banka kredileri · Long-term borrowings, note 71,268,582,923undetermined, kept in the upper boundTKBB Guideline 6.1

KAFİF declaration 7.5% (first half 2026) · Sağlama range 0.0% to 12.7% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Interest-bearing assets

within the threshold
3.9%

Upper bound

Calculation and source

Calculation: numerator ÷ denominatorTRY 1,431,062,794÷TRY 36,661,656,388 (total assets)× 100

RatioInterest-bearing cash and securities / total assets

Upper bound. Asset items that may count as interest-bearing (line 5F of the KAFİF form) were taken in full from the public statements. Assets proven not to count (line 5G of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 4: “Kasa” TRY 165,038: not counted (proven); “Banka - vadesiz mevduat” TRY 31,005,675: not counted (proven); “Banka - vadeli mevduat ile katılım hesabı (*)” TRY 18,488,246: undetermined, kept in the upper bound; “Yatırım fonları (**)” TRY 1,412,514,034: undetermined, kept in the upper bound; “Diğer hazır değerler” TRY 60,514: undetermined, kept in the upper bound. The ratio is in the range 0.00% to 3.90%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Kasa · Cash and cash equivalents, note 4165,038not counted (proven)TKBB Guideline 5.2
Banka - vadesiz mevduat · Cash and cash equivalents, note 431,005,675not counted (proven)TKBB Guideline 5.2
Banka - vadeli mevduat ile katılım hesabı (*) · Cash and cash equivalents, note 4The company's note says: “30 Haziran 2026 ve 31 Aralık 2025 tarihleri itibarıyla vadeli mevduat ve katılım hesaplarının dağılımı”18,488,246undetermined, kept in the upper bound
Yatırım fonları (**) · Cash and cash equivalents, note 41,412,514,034undetermined, kept in the upper boundTKBB Guideline 5.1
Diğer hazır değerler · Cash and cash equivalents, note 460,514undetermined, kept in the upper boundTKBB Guideline 4.1

KAFİF declaration 0.1% (first half 2026) · Sağlama range 0.0% to 3.9% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

Excluded income

within the threshold
0.8%

Measured on the items we can calculate

Calculation and source

Calculation: numerator ÷ denominatorTRY 38,618,170÷TRY 5,119,212,796 (total income)× 100

RatioExcluded income / total income

On the KAP form this item is titled “Katılım Finans İlkelerine Uygun Olmayan Gelir”, which means income not in line with participation finance principles.

Measured on the items we can calculate. Income items that may count as excluded (line 4C of the KAFİF form) were taken in full from the public statements. Income that the notes prove does not count (line 4D of the KAFİF form) was deducted. Items that could not be separated stayed in the numerator, as a precaution. For these income lines (line 4C), the ratio is an upper bound. Excluded income from business activities (line 4B of the KAFİF form) does not appear in the financial statements; it is only in the company's KAFİF declaration on KAP. This measurement sets it to 0. If there is a declaration, the record shows it separately, with a link. Note 25.1: “Konusu kalmayan karşılıklar” TRY 0: not counted (proven); “Ticari alacak ve borç hesaplarına ait kur farkı gelirleri” TRY 3,236,384: not counted (proven); “Ticari borçlar reeskont gelirleri” TRY 7,167,291: undetermined, kept in the upper bound; “SGK teşvik gelirleri” TRY 1,642,458: not counted (proven); “Diğer gelirler” TRY 6,701,105: undetermined, kept in the upper bound. Note 27.1: “Vadeli mevduat gelirleri” TRY 11,113,670: counted in the ratio (proven); “Katılım hesap gelirleri” TRY 35,385,296: not counted (proven); “Para piyasası fon gelirleri” TRY 0: undetermined, kept in the upper bound; “Katılım fon gelirleri” TRY 262,642,254: not counted (proven); “Kur farkı gelirleri” TRY 5,768: not counted (proven); “Masraf iade gelirleri” TRY 13,636,104: undetermined, kept in the upper bound. Note 26.1: “Sabit kıymet satış karları” TRY 0: not counted (proven); “Yatırım amaçlı gayrimenkul kira gelirleri” TRY 4,675,854: not counted (proven). The ratio is in the range 0.22% to 0.75%; both bounds give the same result.

Breakdown from the notes
Item, as written in the company's reportAmount (TRY)ClassBasis
Konusu kalmayan karşılıklar · Other income from operating activities, note 25.10not counted (proven)TKBB Guideline 4.2
Ticari alacak ve borç hesaplarına ait kur farkı gelirleri · Other income from operating activities, note 25.13,236,384not counted (proven)TKBB Guideline 4.2
Ticari borçlar reeskont gelirleri · Other income from operating activities, note 25.17,167,291undetermined, kept in the upper boundTKBB Guideline 4.1
SGK teşvik gelirleri · Other income from operating activities, note 25.11,642,458not counted (proven)TKBB Guideline 4.2
Diğer gelirler · Other income from operating activities, note 25.16,701,105undetermined, kept in the upper boundTKBB Guideline 4.1
Vadeli mevduat gelirleri · Finance income, note 27.111,113,670counted in the ratio (proven)TKBB Guideline 4.1
Katılım hesap gelirleri · Finance income, note 27.135,385,296not counted (proven)TKBB Guideline 4.2
Para piyasası fon gelirleri · Finance income, note 27.10undetermined, kept in the upper boundTKBB Guideline 4.2
Katılım fon gelirleri · Finance income, note 27.1262,642,254not counted (proven)TKBB Guideline 4.2
Kur farkı gelirleri · Finance income, note 27.15,768not counted (proven)TKBB Guideline 4.2
Masraf iade gelirleri · Finance income, note 27.113,636,104undetermined, kept in the upper bound
Sabit kıymet satış karları · Income from investing activities, note 26.10not counted (proven)TKBB Guideline 4.2
Yatırım amaçlı gayrimenkul kira gelirleri · Income from investing activities, note 26.14,675,854not counted (proven)TKBB Guideline 4.2

KAFİF declaration 0.2% (first half 2026) · Sağlama range 0.2% to 0.8% (first half 2026) · the declaration is inside the range · View the form on KAP

Source: company financial report, first half 2026 statements · Jun 30, 2026

View the documentMethod

The three ratios are calculated from the financial statements, and each bar is scaled to its own threshold. The measurement uses the company's latest published statements, and every record states the period. The official review uses audited six- and twelve-month statements (Standard 3.4), so the periods can differ. Method

This record is produced by Sağlama's calculation from the financial statements the company publishes. The method and the corrections log are public. Responsible for this record: Savaş Tutumlu, founder.

Official list record

Official list
On the BIST Participation All Shares list · Index period from October 2026 to April 2027Source: Borsa Istanbul's list of constituents, Oct 1, 2026
Latest official change

Removed from the BIST Participation 30, BIST Participation 50 and BIST Participation 100 indices as of October 1, 2026, for the period from October 2026 to April 2027. Source: Borsa Istanbul announcement, Sep 29, 2026 · KAP disclosure 1669816

All changes for the period from October 2026 to April 2027

Next period
Starts on May 1, 2027. Borsa Istanbul is expected to announce the new list by April 29, 2027 at the latest (Ground Rules 2.17). Sağlama's expectation for each member is on the Review forecast page. This is a forecast, not the official list.

Status history

6 entries

Each period's record and every correction are kept with their dates. Method

  1. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 6.63% · assets 123.18% · loans 669.25%.
  2. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: at least one ratio above the threshold. Income 6.63% · assets 4.53% · loans 12.26%.
  3. Earlier measurementTKBB rules, August 2025, version 1 · Q1 2026: all three ratios within the threshold. Income 0.68% · assets 4.37% · loans 12.15%.
  4. Earlier measurementTKBB rules, August 2025, version 2 · Q1 2026: all three ratios within the threshold. Income 0.68% · assets 4.37% · loans 12.15%.
  5. Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: all three ratios within the threshold. Income 0.75% · assets 3.85% · loans 12.65%.
  6. MeasurementTKBB rules, August 2025, version 3 · first half 2026: all three ratios within the threshold. Income 0.22% to 0.75% · assets 0.00% to 3.90% · loans 0.00% to 12.65%.THIS RECORD

Documents and sources

Source links lead to documents published by the company and by Borsa Istanbul. We do not copy KAP documents. Method

  • DAPGM financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 252956c81314…View the document
  • Sağlama's calculation and methodTKBB rules, August 2025, version 3Read the method

If a figure looks wrong, write to bilgi@saglama.com. We correct it and record the correction with its date in the corrections log.

What this measurement covers

Based on data as of this date, the three ratios we measure are within the TKBB thresholds.

The company's KAFİF declaration

The company's declaration on the KAP form (first half 2026): excluded income 0.2%, interest-bearing assets 0.1%, interest-bearing loans 7.5%. The three declared ratios are within the thresholds. View the form on KAP

The company's answers to the four yes/no questions on the form:

Do the articles of association of the company, its corporate shareholders or its affiliates include an activity that does not follow participation finance principles?
No
Do the company's articles of association grant a privilege that does not follow participation finance principles?
No
Has the company made a statement or decision supporting the actions defined in Standard 1.5 and TKBB Guideline 1.D?
No
Does the company have activities or income directly contrary to participation finance principles?
No

Purification calculation

Dividend-based method · CALCULATOR (DIVIDEND-BASED METHOD)

Purification calculator

A company within the threshold can still have a small amount of excluded income (interest income and other income the standard excludes). Under the TKBB standard, the part of this income that falls to your shares is given to charitable causes. This duty applies whether the company made a profit or a loss, and whether or not it paid a dividend. The amount set aside does not replace zakat or sadaqa.

CALCULATION SLIPDAPGM · first half 2026
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
0.8%
Purification amount
TRY 9.00

Purification amount = gross dividend × excluded income ratio

The number of shares and the dividend are sample inputs. The ratio comes from the company's measurement. To calculate with your own figures, use the purification page.

Purification amount = gross dividend × excluded income ratio (dividend-based method). Under TKBB Standard 3.6.1, purification is needed even if the company makes a loss or pays no dividend. The method page quotes TKBB Standard 3.6, including the inflation deduction under 3.6.2. This is a cautious calculation. The amount may be higher than the true figure, because it uses all of the interest income, not only the part above inflation. The ratio is the upper bound of the measurement (the lower bound is 0.22%); the purification amount is calculated on the upper bound, as a precaution.

  • Excluded income is the part of a company's earnings that is not in line with participation finance principles. On the KAP form it is called “income not in line with participation finance principles.”
  • Purification is done even if the company makes a loss.
  • Purification is needed even if no dividend is paid. The calculation here uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method), which this calculator does not do yet.
  • The purification amount does not replace zakat or sadaqa. Under the TKBB standard, it is given away, not kept.
  • You give the amount yourself, to a charitable cause of your choice. Sağlama does not direct donations.

This calculation uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method). The standard is quoted on the method page.

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Companies in the same index

The 12 companies just before and after this one in alphabetical order in BIST Participation All Shares.