DLF to kick off construction of 2 million sq ft office space in Gurugram
Real Estate

DLF to kick off construction of 2 million sq ft office space in Gurugram

Realty developer DLF will commence the development work on 2 million sq ft of office space shortly in Gurugram, as it witnesses increasing demand for Grade A office buildings in the following year.

The managing director at DLF Rental Business, Sriram Khattar, told the media that the firm's under-construction buildings have already been completely leased. He said that the firm would pump in Rs 1,500 crore on the development of office space in downtown Gurugram and Chennai.

The company has proposed another block of approximately 2 million sq ft on which, once the permissions come in, the development should begin in the coming 2-3 months, according to Khattar.

As per the DLF Cyber City Developers (DCCDL), the rental arm of the company, leasing momentum has picked up in the past six to eight weeks. Two towers in Downtown Gurugram, each with 1.25 million sq ft are almost completed.

They expect to receive OC (occupation certificate) within this financial year. One tower is nearly completely leased, and on the other one, they have inked a non-binding contract for approximately 95% of the tower. It would leave very little stock in towers one and two. The design work on that is in an advanced stage, approvals are starting, and they should begin the construction on that in the first quarter of the coming calendar year.

DCCDL’s consolidated income reached Rs 1,123 crore in Q2 FY22 as against Rs 1,040 crore in the previous year period. The firm's renewal percentage, which used to be in the 90s, has now dipped to 85%.

Image Source

Also read: 315Work Avenue leases 80,000 sq ft office space in Bengaluru

Also read: Hyderabad likely to add 4.6 mn sq ft office space in Q4 FY22

Realty developer DLF will commence the development work on 2 million sq ft of office space shortly in Gurugram, as it witnesses increasing demand for Grade A office buildings in the following year. The managing director at DLF Rental Business, Sriram Khattar, told the media that the firm's under-construction buildings have already been completely leased. He said that the firm would pump in Rs 1,500 crore on the development of office space in downtown Gurugram and Chennai. The company has proposed another block of approximately 2 million sq ft on which, once the permissions come in, the development should begin in the coming 2-3 months, according to Khattar. As per the DLF Cyber City Developers (DCCDL), the rental arm of the company, leasing momentum has picked up in the past six to eight weeks. Two towers in Downtown Gurugram, each with 1.25 million sq ft are almost completed. They expect to receive OC (occupation certificate) within this financial year. One tower is nearly completely leased, and on the other one, they have inked a non-binding contract for approximately 95% of the tower. It would leave very little stock in towers one and two. The design work on that is in an advanced stage, approvals are starting, and they should begin the construction on that in the first quarter of the coming calendar year. DCCDL’s consolidated income reached Rs 1,123 crore in Q2 FY22 as against Rs 1,040 crore in the previous year period. The firm's renewal percentage, which used to be in the 90s, has now dipped to 85%. Image Source Also read: 315Work Avenue leases 80,000 sq ft office space in Bengaluru Also read: Hyderabad likely to add 4.6 mn sq ft office space in Q4 FY22

Next Story
Infrastructure Urban

PTC Industries Reports 45% Rise in FY25 Profit

PTC Industries Limited, a manufacturer of high-precision metal components for critical and super-critical applications, reported robust financial results for the fourth quarter and full financial year ending 31 March 2025.For Q4 FY25, the company’s total income surged 74.9 per cent year-on-year to Rs 1.34 billion, compared to Rs 765 million in the same quarter last year. EBITDA rose by 56.5 per cent to Rs 406.2 million, while Profit After Tax (PAT) stood at Rs 245.7 million, registering a 67 per cent increase.For the full year FY25, total income reached Rs 3.42 billion, up 26.6 per cent from..

Next Story
Infrastructure Urban

NACDAC Reports 34% Revenue Growth in FY25

NACDAC has reported a strong financial performance for the fiscal year ending March 2025, with revenue from operations reaching Rs 48.58 billion, up 33.84 per cent from Rs 36.30 billion in FY24. EBITDA rose 36.10 per cent year-on-year to Rs 6.76 billion, while profit after tax increased by 38.97 per cent to Rs 4.14 billion. The company’s net worth more than doubled to Rs 24.29 billion, compared to Rs 11.90 billion the previous year.The company attributes this performance to enhanced execution capabilities through investments in advanced technology, modern equipment, and a skilled workforce. ..

Next Story
Infrastructure Energy

Torrent Signs LNG Deal With BP Singapore

Torrent Power Ltd (TPL) has entered into a long-term Sales and Purchase Agreement with BP Singapore Pte. Ltd., a subsidiary of global energy major bp, for the supply of up to 0.41 million metric tonnes per annum (MMTPA) of liquefied natural gas (LNG) from 2027 to 2036.The LNG secured under this agreement will be used strategically by TPL to power its 2,730 MW combined cycle gas-based power plants (GBPPs) across India. These plants play a critical role in addressing peak electricity demand, supporting renewable integration, and maintaining grid stability.Additionally, the LNG will cater to the ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?