DLF JV Firm DCCDL鈥檚 Rental Income Rises 10 %

11 Feb 2025 CW Team

Realty firm DLF's joint venture firm DCCDL's rental income from office and retail spaces rose by 10 per cent to Rs 11.94 billion in the third quarter of this fiscal year on higher occupancy and rent appreciation. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm, while the GIC has the remaining 33 per cent. The DCCDL, which holds bulk of the rent-yielding assets of DLF Group, has an operational rental portfolio of 40.4 million square feet, of which 36.4 million square feet area is office space and 4 million square feet retail real estate. India's top seven major cities saw a record gross and net leasing of office spaces during the 2024 calendar year on high demand from domestic firms and multi-national corporations (MNCs). Rentals from retail real estate spaces also grew to Rs 2.31 billion from Rs 2.13 billion during the period under review. On the financial front, the DCCDL's revenue increased 9 per cent in October-December period to Rs16.09 billion from Rs 14.76 billion in the year-ago period. DLF is primarily engaged in the business of development and sale of residential properties (the Development Business) and the development and leasing of commercial properties (the Annuity Business).

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