Latest news with #DCCDL
Time of India
27-05-2025
- Business
- Time of India
DLF to invest Rs 10,000 crore by FY27 to build commercial properties, boost rental income
NEW DELHI: Realty major DLF will invest Rs 10,000 crore in the current and next fiscal year to build premium office spaces and shopping malls to enhance its rental income, a senior company official said. DLF Group has 45 million square feet of commercial assets, which include 41 million square feet of office and 4 million square feet of retail spaces, with an annual rental income of more than Rs 5,000 crore. "India's Grade A++ commercial real estate has emerged as a global value proposition offering world-class quality at a more efficient cost," DLF Vice Chairman and Managing Director (Rental Business) Sriram Khattar told PTI. To leverage this advantage, DLF Group, which has a huge licensed land bank, is expanding its portfolio of rent-yielding commercial assets in a big way and constructing office and retail complexes in Gurugram , Chennai, Delhi and Noida amid strong demand from corporates and retailers. "Since the post-COVID recovery, DLF has focused on expanding its commercial footprint in key urban hubs at Delhi-NCR and Chennai. With an annual capex and approvals outlay of approximately Rs 5,000 crore annually for FY26 and FY27 across its joint ventures with GIC, Hines, and its own balance sheet, DLF is building some of the country's most premium commercial assets," Khattar said. The development of premium shopping malls and office spaces would "significantly boost rental income in the coming years", he added. DLF Group hold the bulk of its commercial assets under its joint venture company DLF Cyber City Developers Ltd (DCCDL). In this JV firm, DLF has a 66.67 per cent stake while Singapore sovereign wealth firm GIC has a 33.33 per cent shareholding. DLF Group also has a JV with US-based Hines to develop a 3 million square feet office complex in Gurugram. It has a 67 per cent stake in this JV. Out of the total 45 million square feet of the Group's operational portfolio, around 43 million square feet are under DCCDL. To expand its commercial portfolio, DLF Group has a 28 million square feet area under the planning and development stage. Out of this, more than 17 million square feet are under construction and over 6 million square feet are expected to be completed in the current fiscal itself. DLF is building two large shopping malls in Gurugram and Noida. Office complexes are being developed in Gurugram and Chennai, while the data centre is in Noida. Recently, DLF reported that DCCDL has clocked an 11 per cent annual growth in office rental income to Rs 3,874 crore during the last financial year. DCCDL's rental income from retail real estate properties grew 6 per cent to Rs 880 crore last fiscal year from Rs 828 crore in the 2023-24 financial year. On the strong financial and operational performance of DCCDL, Khattar highlighted that Crisil has enhanced its rating to 'AAA' with a stable outlook. "This is probably among the very few non-listed entities in the country which have got an AAA rating. At the same time, ICRA upped our rating from AA+ stable outlook to AA+ with a positive outlook," he said and hoped that rating would further improve after the results of the fourth quarter of last fiscal. DLF is India's largest real estate firm in terms of market capitalisation. Since its inception, DLF has developed more than 185 real estate projects and developed more than 352 million square feet of area. DLF Group has 280 million square feet of development potential across residential and commercial segments, including current projects under execution and the identified pipeline. DLF is primarily engaged in the business of the development and sale of residential properties (the Development Business) and the development and leasing of commercial and retail properties (the Annuity Business).
Time of India
26-05-2025
- Business
- Time of India
DLF to invest Rs 10,000 crore in premium office spaces and shopping malls to boost rental income
Real estate giant plans to allocate Rs 10,000 crore during FY25 and FY26 towards constructing high-end office spaces and shopping centres to boost its rental revenue. The group currently manages 45 million square feet of commercial properties, comprising 41 million square feet of offices and 4 million square feet of retail spaces, generating yearly rental income exceeding Rs 5,000 crore. Tired of too many ads? go ad free now "India's Grade A++ commercial real estate has emerged as a global value proposition offering world-class quality at a more efficient cost," DLF Vice Chairman and Managing Director (Rental Business) Sriram Khattar told PTI. DLF Group, with its substantial licensed land bank, is actively expanding its commercial asset portfolio by constructing office and retail complexes in Gurugram, Chennai, Delhi and Noida, responding to strong corporate and retail demand. "Since the post-COVID recovery, DLF has focused on expanding its commercial footprint in key urban hubs at Delhi-NCR and Chennai. With an annual capex and approvals outlay of approximately Rs 5,000 crore annually for FY26 and FY27 across its joint ventures with GIC, Hines, and its own balance sheet, DLF is building some of the country's most premium commercial assets," Khattar said. The development of upscale shopping centres and office spaces will substantially increase rental income in future years, he noted. DLF Group owns most commercial assets through DLF Cyber City Developers Ltd (DCCDL), where it holds 66.67 per cent stake, with Singapore's GIC owning 33.33 per cent. The group additionally maintains a joint venture with US-based Hines, holding 67 per cent stake, to develop a 3 million square feet office complex in Gurugram. Of the group's 45 million square feet operational portfolio, approximately 43 million square feet falls under DCCDL. Tired of too many ads? go ad free now DLF Group has 28 million square feet area planned for development, with over 17 million square feet under construction and 6 million square feet scheduled for completion this fiscal year. The company is constructing two large shopping centres in Gurugram and Noida. Office developments are underway in Gurugram and Chennai, alongside a data centre in Noida. Recent reports show DCCDL achieved 11 per cent annual growth in office rental income, reaching Rs 3,874 crore last financial year. DCCDL's retail property rental income grew 6 per cent to Rs 880 crore last fiscal from Rs 828 crore in 2023-24. Regarding DCCDL's robust performance, Khattar highlighted Crisil's enhanced 'AAA' rating with stable outlook. "This is probably among the very few non-listed entities in the country which have got an AAA rating. At the same time, ICRA upped our rating from AA+ stable outlook to AA+ with a positive outlook," he said, anticipating further improvement after fourth quarter results. DLF leads India's real estate sector in market capitalisation. Since inception, DLF has completed over 185 real estate projects, developing more than 352 million square feet. The group maintains 280 million square feet development potential across residential and commercial segments, including ongoing projects and identified pipeline. DLF primarily focuses on residential property development and sales (Development Business) alongside commercial and retail property development and leasing (Annuity Business).
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Business Standard
25-05-2025
- Business
- Business Standard
DLF Group plans Rs 10,000 cr boost in office, mall projects for 2 years
Realty major DLF will invest Rs 10,000 crore in the current and next fiscal year to build premium office spaces and shopping malls to enhance its rental income, a senior company official said. DLF Group has 45 million square feet of commercial assets, which include 41 million square feet of office and 4 million square feet of retail spaces, with an annual rental income of more than Rs 5,000 crore. "India's Grade A++ commercial real estate has emerged as a global value proposition offering world-class quality at a more efficient cost," DLF Vice Chairman and Managing Director (Rental Business) Sriram Khattar told PTI. To leverage this advantage, DLF Group, which has a huge licensed land bank, is expanding its portfolio of rent-yielding commercial assets in a big way and constructing office and retail complexes in Gurugram, Chennai, Delhi and Noida amid strong demand from corporates and retailers. "Since the post-COVID recovery, DLF has focused on expanding its commercial footprint in key urban hubs at Delhi-NCR and Chennai. With an annual capex and approvals outlay of approximately Rs 5,000 crore annually for FY26 and FY27 across its joint ventures with GIC, Hines, and its own balance sheet, DLF is building some of the country's most premium commercial assets," Khattar said. The development of premium shopping malls and office spaces would "significantly boost rental income in the coming years", he added. DLF Group hold the bulk of its commercial assets under its joint venture company DLF Cyber City Developers Ltd (DCCDL). In this JV firm, DLF has a 66.67 per cent stake while Singapore sovereign wealth firm GIC has a 33.33 per cent shareholding. DLF Group also has a JV with US-based Hines to develop a 3 million square feet office complex in Gurugram. It has a 67 per cent stake in this JV. Out of the total 45 million square feet of the Group's operational portfolio, around 43 million square feet are under DCCDL. To expand its commercial portfolio, DLF Group has a 28 million square feet area under the planning and development stage. Out of this, more than 17 million square feet are under construction and over 6 million square feet are expected to be completed in the current fiscal itself. DLF is building two large shopping malls in Gurugram and Noida. Office complexes are being developed in Gurugram and Chennai, while the data centre is in Noida. Recently, DLF reported that DCCDL has clocked an 11 per cent annual growth in office rental income to Rs 3,874 crore during the last financial year. DCCDL's rental income from retail real estate properties grew 6 per cent to Rs 880 crore last fiscal year from Rs 828 crore in the 2023-24 financial year. On the strong financial and operational performance of DCCDL, Khattar highlighted that Crisil has enhanced its rating to 'AAA' with a stable outlook. "This is probably among the very few non-listed entities in the country which have got an AAA rating. At the same time, ICRA upped our rating from AA+ stable outlook to AA+ with a positive outlook," he said and hoped that rating would further improve after the results of the fourth quarter of last fiscal. DLF is India's largest real estate firm in terms of market capitalisation. Since its inception, DLF has developed more than 185 real estate projects and developed more than 352 million square feet of area. DLF Group has 280 million square feet of development potential across residential and commercial segments, including current projects under execution and the identified pipeline. DLF is primarily engaged in the business of the development and sale of residential properties (the Development Business) and the development and leasing of commercial and retail properties (the Annuity Business). (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
21-05-2025
- Business
- Business Standard
DLF-GIC joint venture DCCDL reports 11% rise in office rent to ₹3,874 cr
DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and GIC, has clocked 11 per cent growth in office rental income to Rs 3,874 crore during the last financial year on better demand for workspaces and rent escalation. The rental income from office space stood at Rs 3,497 crore in the preceding year. DLF holds nearly 67 per cent stake in the JV firm DCCDL while Singapore's sovereign wealth fund GIC has the remaining equity shareholding. According to an investors' presentation of DLF, the DCCDL's rental income from retail real estate properties grew 6 per cent to Rs 880 crore last fiscal year from Rs 828 crore in the 2023-24 financial year. DCCDL has an operational rental portfolio of 43 million sq ft, of which 39 million sq ft area is office space and 4 million sq ft retail real estate. Another 12 million sqft area is under construction. These commercial assets are primarily located in Gurugram, Noida, Chennai, and Hyderabad. DLF holds bulk of its rent-yielding rental assets under this JV firm. On the financial performance, DCCDL's consolidated net profit rose 46 per cent to Rs 2,461 crore last fiscal year from Rs 1,690 crore in the 2023-24 financial year. The profit after tax includes Rs 431 crore of exceptional gains from the sale of IT Park in Kolkata. Total revenue increased 9 per cent to Rs 6,448 crore in 2024-25 from Rs 5,898 crore in the preceding year. "We expect sustained demand momentum across our annuity business and hence continue to judiciously invest towards growing our portfolio across geographies. Rental income is expected to further grow with rent commencement of recently completed office block at DLF Downtown, Gurugram admeasuring approximately 2 million sq ft," DLF (rental business) Vice Chairman and Managing Director Sriram Khattar said. DLF Group is the country's largest real estate developer in terms of market capitalisation.
Time of India
21-05-2025
- Business
- Time of India
DLF Cyber City Developers Ltd. posts 11 % growth in office rent to Rs 3,874 cr in FY25
DLF Cyber City Developers Ltd . ( DCCDL ), a joint venture between DLF and GIC , has clocked 11 per cent growth in office rental income to Rs 3,874 crore during the last financial year on better demand for workspaces and rent escalation. The rental income from office space stood at Rs 3,497 crore in the preceding year. DLF holds nearly 67 per cent stake in the JV firm DCCDL while Singapore's sovereign wealth fund GIC has the remaining equity shareholding. According to an investors' presentation of DLF, the DCCDL's rental income from retail real estate properties grew 6 per cent to Rs 880 crore last fiscal year from Rs 828 crore in the 2023-24 financial year. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo DCCDL has an operational rental portfolio of 43 million sq ft, of which 39 million sq ft area is office space and 4 million sq ft retail real estate. Another 12 million sqft area is under construction. These commercial assets are primarily located in Gurugram, Noida, Chennai, and Hyderabad. DLF holds bulk of its rent-yielding rental assets under this JV firm. Live Events On the financial performance, DCCDL's consolidated net profit rose 46 per cent to Rs 2,461 crore last fiscal year from Rs 1,690 crore in the 2023-24 financial year. The profit after tax includes Rs 431 crore of exceptional gains from the sale of IT Park in Kolkata. Total revenue increased 9 per cent to Rs 6,448 crore in 2024-25 from Rs 5,898 crore in the preceding year. "We expect sustained demand momentum across our annuity business and hence continue to judiciously invest towards growing our portfolio across geographies. Rental income is expected to further grow with rent commencement of recently completed office block at DLF Downtown , Gurugram admeasuring approximately 2 million sq ft," DLF (rental business) Vice Chairman and Managing Director Sriram Khattar said. DLF Group is the country's largest real estate developer in terms of market capitalisation.
