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DLF, GIC JV firm DCCDL clocks 9% growth in rental income at ₹1,481 cr in Sep quarter
DLF, GIC JV firm DCCDL clocks 9% growth in rental income at ₹1,481 cr in Sep quarter
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New Delhi, Nov 10 (PTI) Realty major DLF and GIC's joint venture firm DCCDL's rental income from office and retail spaces rose 9% to ₹1,481 crore during the second quarter of this fiscal, driven by improved demand for its prime commercial assets.
India's biggest realty firm DLF Ltd holds the bulk of its rent-yielding commercial (office and retail) assets in the joint venture firm DLF Cyber City Developers Ltd (DCCDL).
DLF holds nearly 67 per cent stake in DCCDL while Singapore's sovereign wealth fund GIC owns the remaining equity shareholding.
According to its latest presentation, rental income from office complexes grew 9 per cent to ₹1,222 crore in the second quarter of this fiscal from ₹1,125 crore in the year-ago period.
The rental income from retail real estate assets (shopping malls) too grew 9 per cent to ₹259 crore during the July-September period of the 2026-27 fiscal from ₹237 crore in the corresponding quarter of the preceding financial year.
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The DCCDL's total income increased 11 per cent to ₹2,014 crore in the September quarter from ₹1,822 crore in the year-ago period.
At present, DCCDL has a total operational portfolio of 44.3 million square feet, comprising prime office and retail spaces. Around four million square feet is retail area and the rest is office spaces. The Joint Venture firm is developing another 11-12 million sq ft of commercial spaces.
Overall, DLF Ltd has a commercial portfolio of around 50 million sq ft. Almost 90 per cent of the assets are in the DCCDL.
Since inception, DLF has developed more than 185 real estate projects covering more than 352 million square feet.
The Group has 275 million sq ft of future development potential across residential and commercial segments.
DLF Group is engaged in the business of development and sale of residential properties as well as the construction and leasing of commercial properties (Annuity Business).
