DLF aims over ₹10k cr rental income in medium term from commercial assets: Chairman Rajiv Singh
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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
22 minutes ago
- Hans India
AI disruptions will be brief as reskilling drives new jobs: IT Min
New Delhi/ Bengaluru Disruptionsfrom Artificial Intelligence (AI) will be brief and new jobs will emerge, Karnataka's IT and Biotechnology Minister Priyank Kharge has said, highlighting the state's large-scale reskilling initiatives are underway to prepare talent for new-age technologies. In an interview with PTI, Kharge asserted that Karnataka retains a comfortable lead over others in technology, with strong data and performance vectors backing its position. The state encourages innovation and collaboration, ensuring 'that any entrepreneur or corporation who dreams of making it big globally, starts from Karnataka', he noted. On the issue of disruptions due to AI, the minister said, Nipuna Karnataka, the state's large-scale reskilling and upskilling initiative, aims at safeguarding and future-proofing its talent pool. 'While there might be certain job losses, new jobs will be that is why we need a massive reskilling and upskilling programme. So, there will be disruption, but the disruption will be for a brief while, until we are able to reskill and upskill people,' he said. Nipuna Karnataka is a Rs 300 crore reskilling initiative, industry-driven and industry-focused, with ambitious targets to train talent at scale, he added. In the coming financial year, the state government aims to skill individuals in key areas, like artificial intelligence, cybersecurity, digital forensics, and other technologies, in line with the global tech demands. 'We intend to scale over 5,00,000 people in the coming financial year, in artificial intelligence, cybersecurity, digital forensics, and anything that the industry might need. So, we are closely talking to them through our skill council for emerging technologies, taking their feedback, taking their curriculum, and seeing how we can ensure that we give the most affordable and most talented human resources for them. 'And this programme is just not catering to the local ecosystem, we are catering to the global ecosystem also,' Kharge noted. He said Karnataka retains its lead over others, and data ranging from IT exports to startups and GCCs play, underscores its competitive strengths. 'We are far ahead of the curve when it comes to our neighbours or neighbouring states. So, while we love competition, we are not afraid of it. It also helps us pull up our socks,' he said. As many as 20,000 startups are registered with the state government, he said, adding that of 110 unicorns, more than 45 are from Bengaluru. 'We contribute 21 per cent of the national bioeconomy, and 65 per cent of defence electronics manufacturing happens in Karnataka. And GCCs, we have close to over 800 GCCs and their units, totalling about 1,500,' Kharge said. The same trend is evident in office space demand, real estate leasing, and GCC momentum. 'Last year, we gobbled up close to around 47 per cent of the entire country's real estate for GCCs. This year, just in the last six months, 13.1 million square feet has been given only for GCCs. So, where is the competition? I don't see that,' Kharge said. The minister emphasised that the state's policies are backed by strong, actionable outcomes like the recent Quantum Roadmap. 'We are just not announcing mere policies for the sake of announcing them. So, when we keep the Karnataka quantum roadmap in front, people believe is because over the years, we have managed to build a strong foundation of skills. 'We have topped that with incubators, and we have topped up with centres of excellence across sectors. So, I run more than 25 centres of excellence from agritech to space tech. And through these, we are innovating and inventing. On top of that, we have put budgets. On top of that, we put policies,' Kharge said.
Indian Express
22 minutes ago
- Indian Express
‘Unable to accept erosion of its dominance': After India, Russia hits back at US on inflated tariffs over oil trade
Days after Trump unveiled a new set of steep tariffs, Russia on Monday responded to the US administration for increasing tariffs and imposing sanctions on the country, accusing the government of using 'neocolonial' policy against specific countries to maintain Washington's hegemony. Russia's Foreign Ministry Spokeswoman Maria Zakharova, in a statement, said no tariff wars or sanctions 'can halt the natural course of history'. Calling sanctions and restrictions a 'regrettable reality' of today's historical stage that affects the entire world, she said that the US is unable to come to terms with the 'loss of hegemony in the emerging world order.' 'Sanctions and restrictions have unfortunately become a defining feature of the current historical period, impacting countries across the globe. Unable to accept the erosion of its dominance in an emerging multipolar international order, Washington continues to pursue a neocolonial agenda, employing politically motivated economic pressure against those who choose an independent course on the international stage,' she said. Russia asserted in its statement that 'no tariff wars or sanctions can halt the natural course of history.' Zakharova further said that Russia will deepen in cooperation with countries of the Global South, and resist the 'unlawful unilateral sanctions.' The response issued by Russian Foreign Ministry came hours after India issued a strongly worded statement over US imposing inflated tariffs on New Delhi for indulging in trade with Moscow in the middle of the Russia-Ukraine war. (With inputs from PTI)
Time of India
22 minutes ago
- Time of India
A second brain with AI
Academy Empower your mind, elevate your skills Like many of you, I juggle multiple roles and tasks daily. A few years ago, I discovered the PARA method - Projects, Areas, Resources, Archive - developed by Tiago Forte. It helped me bring structure to my notes and reduce the mental 'open tabs' in my even with a solid system, I hit a wall. Information was stored, but not quite working for me. Notes sat quietly in folders. Ideas got changed when I brought AI into the mix. Here's a primer on how you can use an AI supercharged PARA System . You create 4 Macro folders:Each active project will be a micro folder with a clear deadline - like a workshop or client proposal. Feed in notes, emails, and docs into your Ai tool.'Summarise key decisions from the last 3 meeting notes.''Draft an update email based on this week's notes.'This will help you turn passive notes to live are ongoing themse like 'Team Development' without a specific deadline. Each gets a separate micro-folder. You can use AI to review them fortnightly.'What themes are recurring in my one-on-ones?''How can I improve my proposals?This will help you build long term are articles, PDFs, and podcasts useful to you. But without summaries they are tough to navigate. Tools like ChatGPT, GoogleLM, and Notion AI help turn them into usable insights:'Summarise this report in 5 points.''What's the main takeaway from this article'This will help you turn information into actionable many current items in the above categories go into Archives. But they still might be needed someday. AI works like magic here.'Find my old notes on GenAI and change management.'It's like an AI powered time machine!PARA gives structure. AI makes it intelligent. The result? A second brain that helps you lead with less stress and more Singh is the cofounder of two AI ventures, ClayboxAI and Kampd, and has held APAC leadership roles at Google and Twitter previously. For feedback, please email to eteyeonai@
