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DLF aims to cross ₹10,000 cr rental income from commercial assets: Chairman
At present, the DLF Group has an annuity portfolio (primarily office complexes and shopping malls) of around 46 million sq ft with an annual rental income of over ₹6,000 crore.
Addressing shareholders at DLF's 60th Annual General Meeting (AGM), Singh said the company during 2024-25 fiscal delivered a strong performance, achieving robust growth across both housing development and rental (of commercial properties) businesses.
He said the company's annuity portfolio, encompassing offices, retail and hospitality, continues to exhibit steady growth.
The chairman informed that new buildings in 'Downtown Gurugram' and Chennai project are completed. Additionally, three new retail properties are set to open in the near future, further strengthening its portfolio.
"We remain equally excited and committed to grow our annuity portfolio and have set an ambitious target for ourselves to cross annual rental revenues of ₹10,000 crore in the medium-term," Singh told shareholders.
On residential business, the chairman highlighted that the DLF achieved a record sales booking of ₹21,223 crore, with a year-on-year growth of 44 per cent.
The company's latest housing project, 'West Park', in Mumbai has been equally well-received, he added.
"We have a strong and identified pipeline of new products across geographies for our development (housing) business which is expected to deliver healthy gross margins and generate significant cash surplus for your company," Singh said.
The chairman also spoke about India's economic growth.
"India's economy has demonstrated remarkable resilience amid global uncertainties and slowing growth. India stands out as a global beacon of economic progress. The 'Make in India' initiative, coupled with sustained structural reforms, creates substantial opportunities for growth," Singh said.
He noted that India's economic growth is driven by young population, an expanding middle class, rapid urbanisation, rising disposable incomes and growing aspirations.
Singh said the company is well-positioned to capitalise on these opportunities.
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