+
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

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code