DLF is a listed real estate developer located in Delhi NCR, intends to expand its retail portfolio by building three malls in Goa, Gurugram, and Delhi, VC and MD (Rental Business) Sriram Khattar of DLF said.
According to Khattar, the company had put plans for mall expansion on hold during the COVID-19 time, but in the last two to three years, it has returned its attention to growing its retail portfolio through malls.
We are currently building three new malls across India. According to Khattar, three new malls would open in Moti Nagar in central-west Delhi, DLF Phase-5 in Gurugram, and Panjim in Goa.
DLF Set To Launch High-Street Shopping Centers In Delhi And Gurugram
DLF currently has a retail portfolio of about 5 million square feet; after these malls are open, the retail portfolio will grow to over 6.3 million square feet.
According to Khattar, the mall in Goa Panjim will be a full-fledged mall, while the ones in Delhi and Gurugram will be high-street shopping complex.
“The development work on Goa project will begin in between March-April 2026, and the high-street plazas in Delhi and Gurugram will begin making rental income between March 2025 and March 2026”.
DLF Aims To Deliver Mall Of India In 2028
In addition to those three malls, DLF has started building its flagship store, Mall of India, in Gurugram, which would serve the city’s expanding middle- and upper-middle-class populace, according to Khattar.
He stated that the mall is anticipated to open in 2028. On July 25, DLF Limited announced that its net profit for the quarter that ended on June 30, 2024, increased by 23% year over year to Rs 646 crore. Throughout the period, the rental industry maintained its consistent success as well.
DLF Cyber City Developers Limited’s (DCCDL) consolidated revenue for the first quarter of FY25 was Rs 1,553 crore, a 10% YoY increase. According to DLF, the quarter’s consolidated earnings of Rs 470 crore represented a 20 percent YoY gain.
DLF Launched Data Centers In Noida And Noida-Greater
DLF began building on its first data center on a land in Noida Sector 143 along the Noida-Greater Noida Expressway, four years back. The second facility is almost finished, and DLF is awaiting the OC. The business has also committed to building a third data center, with the possibility to build a fourth at the same location.
A Singaporean company is the tenant there, and they will have the opportunity to request, upon request, that the developer lease them a fourth unit. These are modest data centers, sometimes known as edge data centers, with a 25 megawatt (MW) capacity.
In a few months, the third data center in Noida is probably going to start being built. The data center project is 700 meters from the closest metro station and 45 to 50 minutes’ drive from the soon-to-be Noida International Airport.
DLF To Increase Grade A++ Office Space In Delhi-NCR
Khattar added that DLF’s goal is to increase its market share in the Grade A++ office space market. It is now time for the real estate sector to start making a distinction between commercial spaces classified as Grade A and Grade A++.
In terms of safety, sustainability, scalability, and physical and social infrastructure, Grade A++ properties are compared to the best in the world. We want to fit into this category at DLF,” Khattar said.
Out of the approximately 750 million square feet of commercial buildings overall, 200–250 million square feet are thought to be Grade A++ buildings.
DLF Has Over 45 Million Square Feet Of Total Grade A++ Office Space
DLF has over 45 million square feet of total Grade A++ office space in its portfolio, of which 14–15 million are in its Special Economic zones (SEZs). The retail portfolio of the corporation encompasses an extra 5 million square feet.
According to Khattar, Grade A++ office spaces have five essential characteristics: they are sustainable, have built-in safety, are from reputable developers, are in prime locations, and have social infrastructure.
For instance, an office space in Gurugram’s Cyber City cannot be compared to anything on Sohna Road. The Vice Chairman and MD (Rental Business) further clarified that having a building in Vashi is completely different from having anything in Mumbai’s BKC (Bandra Kurla Complex).
Global Capability Centers Are Renting Out More Grade A++ Working Spaces
Khattar pointed out that leasing activity has significantly increased in India, and that the traditional IT/ITeS sector, Global Capability Centers (GCCs), MNCs, and flex space providers are ultimately driving demand for offices.
According to him, GCCs are occupying an increasing number of spaces, and manage or flexible space providers are combining the demands of smaller tenants while also occupying larger spaces.
According to him, the majority of multinational corporations search for developers with the capacity to scale the space in addition to Grade A++ spaces.
“They look at properties that are scalable so they don’t have to go to other locations or buildings to look for that expansion,” the speaker stated, referring to their needs for expansion over the next five to seven years.
Source-Moneycontrol
