+
DLF records a 10% hike in its rental income at over Rs 3k cr
Real Estate

DLF records a 10% hike in its rental income at over Rs 3k cr

DLF's rental arm, DLF Cyber City Developers Limited (DCCDL), has achieved a 10% growth in its rental income at Rs 3,350 crore during the last fiscal year (FY).

DCCDL has a commercial portfolio of 37.9 million sq ft, from which 34 million sq ft is office space and the rest is retail space.

DLF has about a 67% stake in the joint venture (JV) firm, while GIC has the remaining stake.

The company's rental income grew to Rs 3,350 crore during the last fiscal year from Rs 3,029 crore in 2020-21.

The rental office spaces increased 5% to Rs 2,889 crore in 2021-22 from Rs 2,753 crore in the previous year.

Rental retail real estate assets witnessed a growth of 67% to Rs 461 crore in the last FY from Rs 276 crore in 2020-21.

The company's businesses at shopping malls were severely hit during the first and second waves of the Covid-19 pandemic. Its real estate portfolio shows a robust rebound post third wave of the Covid-19 pandemic.

DLF said that vacancies are gradually declining, and rentals are steady with an upward bias during the second half of the year in office spaces.

DCCDL persists in pre-leasing buildings before receipt of occupancy certificates.

DCCDL reported a 3% increase in revenue to Rs 4,533 crore during the last FY. Its net profit grew by 10% to Rs 1,002 crore. However, its net debt stood at Rs 19,063 crore as of March 31 2022.

DCCDL said that it is currently developing a 7 million sq ft of office spaces in Gurugram and Chennai, of which 1.7 million sq ft are near completion.

Earlier, DLF formed a JV firm with GIC after its promoters and sold a 40% stake in DCCDL for about Rs 12,000 crore.

The company has developed over 153 real estate projects and has developed an area of over 330 million aq ft. It will further construct a 215 million sq ft area.

Image Source

Also read: DLF records 15% drop in net profit to Rs 379.49 cr in Q3 FY22

DLF's rental arm, DLF Cyber City Developers Limited (DCCDL), has achieved a 10% growth in its rental income at Rs 3,350 crore during the last fiscal year (FY). DCCDL has a commercial portfolio of 37.9 million sq ft, from which 34 million sq ft is office space and the rest is retail space. DLF has about a 67% stake in the joint venture (JV) firm, while GIC has the remaining stake. The company's rental income grew to Rs 3,350 crore during the last fiscal year from Rs 3,029 crore in 2020-21. The rental office spaces increased 5% to Rs 2,889 crore in 2021-22 from Rs 2,753 crore in the previous year. Rental retail real estate assets witnessed a growth of 67% to Rs 461 crore in the last FY from Rs 276 crore in 2020-21. The company's businesses at shopping malls were severely hit during the first and second waves of the Covid-19 pandemic. Its real estate portfolio shows a robust rebound post third wave of the Covid-19 pandemic. DLF said that vacancies are gradually declining, and rentals are steady with an upward bias during the second half of the year in office spaces. DCCDL persists in pre-leasing buildings before receipt of occupancy certificates. DCCDL reported a 3% increase in revenue to Rs 4,533 crore during the last FY. Its net profit grew by 10% to Rs 1,002 crore. However, its net debt stood at Rs 19,063 crore as of March 31 2022. DCCDL said that it is currently developing a 7 million sq ft of office spaces in Gurugram and Chennai, of which 1.7 million sq ft are near completion. Earlier, DLF formed a JV firm with GIC after its promoters and sold a 40% stake in DCCDL for about Rs 12,000 crore. The company has developed over 153 real estate projects and has developed an area of over 330 million aq ft. It will further construct a 215 million sq ft area. Image Source Also read: DLF records 15% drop in net profit to Rs 379.49 cr in Q3 FY22

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?