DLF-GIC JV firm DCCDL's office rental income rises 11% to Rs 942 cr in Q1

Realty firm DLF's rental arm DCCDL has posted an 11 per cent annual increase in office rental income to Rs 942 crore during the first quarter of this fiscal on better demand for its premium workspace.

DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF and Singapore sovereign wealth fund GIC.

DLF holds a 66.67 per cent stake, while the GIC has a 33.33 per cent stake in DCCDL.

According to the latest investor presentation, DCCDL's rental income from office buildings rose to Rs 942 crore during the April-June period of the current fiscal from Rs 851 crore in the year-ago period.

The rental income from retail real estate space grew 9 per cent to Rs 210 crore in the first quarter of this fiscal from Rs 192 crore a year ago.

On the commercial real estate segment, DLF said it has achieved "double-digit rental growth through organic growth and new developments".

"Significant increase in retail presence; portfolio to grow to 2 times in the next 4-5 years," it added.

DLF