Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
DLF Cyber City Developers Ltd (DCCDL), the rental arm of realty major DLF, raised INR 1,100 crore through the allotment of non-convertible debentures on a private placement basis earlier this week. The issue, carrying a coupon rate of 6.91 per cent per annum payable quarterly, reflects the company's continuing strategy to strengthen its funding avenues. DCCDL, a joint venture between DLF and Singapore's sovereign wealth fund GIC, manages a 44 million sq ft operational portfolio of commercial properties across major Indian cities.
DLF announced through a regulatory filing earlier this week that its rental arm, DCCDL, secured INR 1,100 crore by issuing 1,10,000 non-convertible debentures (NCDs) on a private placement basis. The Securities Allotment Committee of the DCCDL Board approved the issuance to eligible investors, with the instruments carrying a coupon rate of 6.91 per cent per annum, payable quarterly. Advertisement
DCCDL, a joint venture between DLF and Singapore's sovereign wealth fund GIC, is majority-owned by DLF with a 67 per cent stake. The company currently holds a total operational portfolio of 44 million sq ft of commercial spaces, including both office and retail developments, with significant presence in cities such as Gurugram.
In the June quarter, DCCDL reported a 26 per cent year-on-year rise in net profit, amounting to INR 593 crore, attributed to increased income from rent-yielding commercial assets. Its total income during the April-June period stood at INR 1,739 crore, reflecting a 12 per cent increase compared to INR 1,553 crore in the same period of the previous year.
The DLF Group's broader business spans residential development alongside construction and leasing of commercial and retail properties. Most of the group's commercial real estate assets are consolidated within DCCDL, highlighting its significance within the company's annuity business model.
The INR 1,100 crore debenture issue underscores DCCDL's strategic approach towards leveraging debt markets to support growth in its rental portfolio. With a strong operational base and consistent income generation from its commercial properties, the company continues to consolidate its position as a leading player in India's commercial real estate sector. Backed by its joint venture structure with GIC, DCCDL remains central to DLF's long-term strategy in the annuity-driven real estate segment.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
