Latest news with #RajivSingh
Economic Times
4 days ago
- Business
- Economic Times
DLF-GIC JV firm DCCDL Q1 profit rises 26 pc to Rs 593 cr on higher rental income
DLF and GIC joint venture firm DCCDL's net profit rose 26 per cent to Rs 593 crore during the June quarter on the back of higher income from rent-yielding commercial properties. ADVERTISEMENT The net profit of DLF Cyber City Developers Ltd (DCCDL) stood at Rs 470 crore in the year-ago period. Total income grew 12 per cent to Rs 1,739 crore during April-June period of this fiscal year from Rs 1,553 crore in the corresponding period of the preceding year. The DCCDL is a joint venture between DLF and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm. DCCDL has a total operational portfolio of 44 million sq ft of commercial spaces (office and retail) across various cities, including Gurugram. The net debt of joint venture firm stood at Rs 17,287 crore at the end of the quarter. ADVERTISEMENT DLF Group is primarily engaged in the business of building and sale of residential properties (development business) and the construction and leasing of commercial and retail properties (annuity business). The bulk of the commercial assets of DLF Group is parked in the DCCDL. ADVERTISEMENT Apart from the JV, DLF Ltd directly owns a small portfolio of about 2 million sq ft of office and retail spaces. Addressing shareholders at an AGM on August 4, DLF Chairman Rajiv Singh said India's biggest realty firm DLF has set an "ambitious" target to cross annual rental income of Rs 10,000 crore in the medium term from the company's commercial properties. ADVERTISEMENT At present, the DLF Group, including the DCCDL, has an annuity portfolio (primarily office complexes and shopping malls) of about 46 million sq ft with an annual rental income of over Rs 6,000 crore. He told shareholders that the company's annuity portfolio, encompassing offices, retail and hospitality, continues to exhibit steady growth. ADVERTISEMENT The chairman said new buildings in 'Downtown Gurugram' and Chennai projects 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 Rs 10,000 crore in the medium-term," Singh had said at the AGM. Since inception, DLF has developed more than 185 real estate projects and developed an area of more than 352 million sq ft. The group has 280 million sq ft of development potential across the residential and commercial segments, including current projects under execution and the identified pipeline. (You can now subscribe to our ETMarkets WhatsApp channel)
News18
4 days ago
- Business
- News18
DLF-GIC JV firm DCCDL Q1 profit rises 26 pc to Rs 593 cr on higher rental income
New Delhi, Aug 6 (PTI) DLF and GIC joint venture firm DCCDL's net profit rose 26 per cent to Rs 593 crore during the June quarter on the back of higher income from rent-yielding commercial properties. The net profit of DLF Cyber City Developers Ltd (DCCDL) stood at Rs 470 crore in the year-ago period. Total income grew 12 per cent to Rs 1,739 crore during April-June period of this fiscal year from Rs 1,553 crore in the corresponding period of the preceding year. The DCCDL is a joint venture between DLF and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm. DCCDL has a total operational portfolio of 44 million sq ft of commercial spaces (office and retail) across various cities, including Gurugram. The net debt of joint venture firm stood at Rs 17,287 crore at the end of the quarter. DLF Group is primarily engaged in the business of building and sale of residential properties (development business) and the construction and leasing of commercial and retail properties (annuity business). The bulk of the commercial assets of DLF Group is parked in the DCCDL. Apart from the JV, DLF Ltd directly owns a small portfolio of about 2 million sq ft of office and retail spaces. Addressing shareholders at an AGM on August 4, DLF Chairman Rajiv Singh said India's biggest realty firm DLF has set an 'ambitious" target to cross annual rental income of Rs 10,000 crore in the medium term from the company's commercial properties. At present, the DLF Group, including the DCCDL, has an annuity portfolio (primarily office complexes and shopping malls) of about 46 million sq ft with an annual rental income of over Rs 6,000 crore. He told shareholders that the company's annuity portfolio, encompassing offices, retail and hospitality, continues to exhibit steady growth. The chairman said new buildings in 'Downtown Gurugram' and Chennai projects 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 Rs 10,000 crore in the medium-term," Singh had said at the AGM. Since inception, DLF has developed more than 185 real estate projects and developed an area of more than 352 million sq ft. The group has 280 million sq ft of development potential across the residential and commercial segments, including current projects under execution and the identified pipeline. PTI MJH TRB view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Pune real estate: K Raheja Corp subsidiary buys 7.43-acre land parcel near Pune for ₹195 crore
DLF aims to exceed an annual rental income of Rs 10,000 crore from its commercial properties, currently generating over Rs 6,000 crore. Chairman Rajiv Singh highlighted strong performance in housing development and rental sectors at the AGM, reporting record sales bookings of Rs 21,223 crore. He noted India's economic resilience and opportunities for growth amid global uncertainties.
Hindustan Times
6 days ago
- Business
- Hindustan Times
DLF aims over ₹10k cr rental income in medium term from commercial assets: Chairman Rajiv Singh
New Delhi, Aug 4 (PTI) India's biggest realty firm DLF has set an "ambitious" target to cross annual rental income of ₹10,000 crore in medium term from the company's commercial properties, its Chairman Rajiv Singh said on August 4. Chairman Rajiv Singh said on August 4 that the company's annuity portfolio, encompassing offices, retail and hospitality, continues to exhibit steady growth. (Photo for representational purposes only)(HT Photo) 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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Business Standard
6 days ago
- Business
- Business Standard
DLF aims to cross ₹10,000 cr rental income from commercial assets: Chairman
India's biggest realty firm DLF has set an "ambitious" target to cross annual rental income of ₹10,000 crore in medium term from the company's commercial properties, its Chairman Rajiv Singh said on Monday. 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.
