DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 cr in FY24
DCCDL's rental income from office buildings increased 7 per cent annually to Rs 3,460 crore in the last fiscal, driven by rent appreciation and expansion of the asset portfolio. 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.
DCCDL has an operational rental portfolio of 41.9 million square feet, of which 37.9 million square feet area is office space and 4 million square feet retail real estate.
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Offering CollegeCourseWebsiteIIM LucknowChief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Technology OfficerVisitIndian School of BusinessISB Leadership in AIVisitAccording to an investor presentation of DLF, the DCCDL's rental income from office buildings increased to Rs 3,460 crore in 2023-24 from Rs 3,232 crore in the preceding year.
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The rental income from retail assets (malls and shopping centres) rose 18 per cent to Rs 865 crore last fiscal from Rs 735 crore in 2022-23.
Service and other operating income grew 14 per cent last fiscal to Rs 1,489 crore from Rs 1,311 crore in the preceding year.
«DLF's rental business continues to do well. The occupancy levels are healthy, and vacancy is low. With the regulatory clarity of floorwise denotification in SEZs, vacancies in SEZs will also go down.
»We also achieved growth in rentals from our existing commercial assets. We have performed better than the industry in most
