DLF is looking to double its rental portfolio to Rs 4,700 crore in the next three years. The company’s rental arm, DLF Cyber City Developers (DCCDL), had a rental of Rs 2,510 crore in FY19. DLF has forecast a rental growth of 20 per cent on a compound annual growth rate (CAGR) basis, the company said in its latest analyst presentation.
“With the debt overhang behind us and completion of all legacy projects, DLF will now work with an enhanced focus on generating free cash flow through monetisation of our ready-to-occupy inventory,” the company said.
DLF’s rental arm DLF Cyber City Developers (DCCDL) had a rental of Rs 2,510 crore in FY19. It has forecasted a rental growth of 20 per cent on compound annual growth rate (CAGR) basis.
DLF’s rental platform has 32.8 million sq ft of operational assets and 3.2 million sq ft of under construction assets. The company promoters sold 33.34 percent stake in DCCDL to Singapore’s GIC for Rs 9,000 crore in 2017.
DLF on Tuesday said its net profit jumped 79 per cent to Rs 435 crore for the quarter ended March.