DLF's rental arm DCCDL raises through issue of debentures

25 Sep 2023 CW Team

DLF's rental subsidiary, DLF Cyber City Developers Ltd (DCCDL), has successfully raised Rs 1,100 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. This development was disclosed in a regulatory filing by DLF, which highlighted that the DCCDL board has given its approval for the allotment of these debentures.

The securities allotment committee of the Board of Directors at DCCDL has sanctioned the allotment of 1,10,000 senior, listed, rated, secured, redeemable, transferable, rupee-denominated NCDs. These NCDs have a face value of Rs 1 lakh each and were issued on a private placement basis to eligible investors.

The total issue size amounts to Rs 1,100 crore, and these NCDs will be listed on the BSE (Bombay Stock Exchange). The coupon rate for the NCDs is set at 8.25% per annum, with a maturity date of August 17, 2033.

DCCDL is a joint venture between DLF and the Singapore sovereign wealth fund GIC. DLF holds a 66.67% stake in DCCDL, while GIC possesses a 33.33% stake in the joint venture. Notably, DLF primarily holds its rental assets, comprising offices and shopping malls, through DCCDL. DCCDL boasts rent-yielding office and retail properties spanning approximately 40 million square feet, generating an annual rental income of approximately Rs 4,000 crore.

In summary, DLF's rental arm, DCCDL, has raised Rs 1,100 crore by issuing NCDs on a private placement basis, with these securities set to be listed on the BSE. This financial move is in line with DLF's strategy to manage its rental assets effectively through DCCDL, in collaboration with its partner GIC.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..