DLF Ltd, the Delhi-NCR based real estate major, has announced plans to double its rental portfolio and achieve Rs 100 billion in rental revenue by FY30. This ambitious target will be backed by a ?20,000 crore capital investment and an expansion across key urban centres.

As per a recent investor presentation, DLF intends to add 21 million sq ft of office space, growing its commercial portfolio from 39 million sq ft to 60 million sq ft. The retail footprint is also set to expand significantly—from 4 million sq ft currently to 12 million sq ft over the next five years, with 8 million sq ft already under execution and several projects nearing completion.

“If all projects are delivered on time, we expect to touch Rs 100 billioin rental revenues by FY30,” said Badal Bagri, Chief Financial Officer, noting that the rental portfolio is projected to double within five years.

Of the Rs 200 billion investment, Rs 120 billion is earmarked for DLF Cyber City Developers Ltd (DCCDL), while the remaining Rs 80 billion will go towards DLF’s rental and hospitality ventures.

DLF’s annuity business currently manages 44 million sq ft of high-occupancy rental assets, with projections to grow to 73 million sq ft in the medium term. Overall occupancy across retail and office portfolios stands at 93 percent, with retail at 98 percent and new projects nearly 95 percent pre-leased.

In terms of geography, DLF is looking to extend beyond its strongholds in Gurugram, Chennai and Hyderabad, and is actively eyeing opportunities in Bengaluru and Mumbai to follow its clients’ needs.