DLF's Rental Arm Sees 11% Boost in Office Rental Income to Rs 942 Crore
DLF's joint venture with GIC, DCCDL, reports an 11% annual increase in office rental income, driven by strong demand for premium workspace.
Real EstateMarket CapitalisationRental IncomeCommercial Real EstateDlf Gic JvReal Estate NewsJul 28, 2024
DLF holds a 66.67% stake in DCCDL, while GIC has a 33.33% stake. The joint venture has a portfolio of 42 million square feet with occupancy levels at 93%. In addition to office rental income, DCCDL's retail real estate space rental income also grew 9% to Rs 210 crore in the first quarter of this fiscal.
On the commercial real estate segment, DLF reported double-digit rental growth through organic growth and new developments. The company also announced significant increases in retail presence, with plans to grow its portfolio to 2 times in the next 4-5 years. As part of its growth strategy, DLF is unlocking the development potential of its assets and modernizing existing ones.
On the financial performance front, DCCDL's revenue grew 10% annually to Rs 1,553 crore in the April-June period of 2024-25. Its profit after tax increased 20% to Rs 470 crore, up from Rs 391 crore in the corresponding period of the previous year. DLF expressed confidence in its rental business, citing a positive outlook and plans to accelerate capital expenditure commitments to further strengthen its rental portfolio and deliver healthy growth.
With a market capitalization of over $10 billion, DLF is India's largest real estate developer. Over the past seven decades, the company has developed over 178 real estate projects, comprising more than 349 million square feet of area. DLF Group has 220 million square feet of development potential across residential and commercial segments.
Information
DLF is a leading Indian real estate developer with a strong presence in the commercial and residential segments. Founded in 1946, the company has a legacy of delivering quality projects across India.
DLF is India's largest real estate developer in terms of market capitalisation. In the past seven decades, DLF has developed more than 178 real estate projects comprising more than 349 million square feet of area. DLF Group has 220 million square feet of development potential across residential and commercial segments.
Frequently Asked Questions
What is DCCDL's office rental income in the first quarter of this fiscal?
Rs 942 crore
What is the stake of DLF and GIC in DCCDL?
DLF holds 66.67% stake and GIC holds 33.33% stake
What is the portfolio size of DCCDL?
42 million square feet
What is the growth rate of DCCDL's revenue in the first quarter of this fiscal?
10% annually
What is the profit after tax of DCCDL in the first quarter of this fiscal?
Rs 470 crore
Related News Articles
Omaxe Reports Significant Loss Despite Income Surge in Q4 FY24
The leading real estate developer in North India
Indian Realty Sector Takes a Hit: Election Results 2024 Market Close Highlights
The Indian realty sector experienced a significant decline in the stock market as the election results of 2024 were announced.
Puja Khedkar's Father Under Scanner: ACB Pune Receives Complaint Over Disproportionate Assets
The Anti-Corruption Bureau in Pune has received a complaint seeking an open inquiry against Dilip Khedkar, father of IAS probationer Puja Khedkar, over alleged disproportionate assets, amid ongoing inquiries into her claims of disability and OBC certifica
Farmer's Deadly Obsession: Black Magic Suspicion Leads to Murder of Business Rival
A farmer-turned-real estate agent in Pune has been arrested for the murder of a fair price shop owner, driven by suspicions of black magic.
IHCL Launches New Ginger Hotel in Bhiwandi, Maharashtra
IHCL, the Indian Hotels Company Ltd, is expanding its footprint in emerging markets with a new 151-room Ginger hotel in Bhiwandi, Maharashtra. This strategic move aligns with the growing importance of Bhiwandi in the warehousing and logistics sector. The
MahaRERA Suspends 1,950 Non-Compliant Real Estate Projects; Thousands More at Risk
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has temporarily suspended the registration of 1,950 lapsed real estate projects across the state, affecting thousands of homebuyers and raising concerns about the future of additional projects.