DLF Cyber City Developers Ltd (DCCDL), the rental arm of realty major DLF, reported a 10% increase in rental income to ₹1,194 crore in the third quarter of FY 2024-25, driven by higher occupancy and rent appreciation across its office and retail real estate portfolio.
DCCDL, a joint venture between DLF Ltd and Singapore’s sovereign wealth fund GIC, holds the bulk of DLF Group’s rent-yielding assets. DLF owns a 67% stake, while GIC holds 33% in the venture.
As per DLF’s Q3 investor presentation, the JV’s operational rental portfolio stands at 40.4 million square feet, including 36.4 million square feet of office space and 4 million square feet of retail real estate.
In the October-December quarter, DCCDL’s rental income rose to ₹1,194 crore, compared to ₹1,089 crore in the same quarter last year. Of this, office space rentals contributed ₹962 crore, a 10% increase from ₹876 crore during the year-ago period.
The growth reflects the strong demand for commercial real estate in India, particularly in the top seven cities, which witnessed record gross and net office leasing in calendar year 2024. The surge was fuelled by expansion from domestic firms and multinational corporations (MNCs).
With the rising demand for premium office and retail spaces, DLF and GIC’s DCCDL is expected to continue playing a key role in India’s commercial real estate sector.
