DLF & GIC JV: A Booming Empire in Commercial Real Estate

DLF Cyber City Developers Ltd (DCCDL), a collaborative enterprise formed by DLF and GIC, witnessed a substantial 26% growth in net profit, achieving Rs 593 crore during the June quarter. This surge has been attributed to increased revenues from rent-generating commercial properties.

This achievement is a significant increase from the Rs 470 crore net profit registered in the same quarter last year. Total income for the period rose by 12% to Rs 1,739 crore, showcasing robust performance in the fiscal year.

DLF's Chairman, Rajiv Singh, conveyed his ambitious vision at the annual general meeting, targeting over Rs 10,000 crore in rental income in the medium term. The company's portfolio continues to expand with new projects in Gurugram and Chennai, reinforcing DLF's leading position in the real estate sector.

(With inputs from agencies.)