DCCDL Q3 rent income up 18% on high demand for office, retail spaces

Realty major DLF and GIC joint venture DCCDL’s rental income rose 18 per cent to Rs 1,412 crore in the December quarter amid strong demand for premium office and retail spaces.
DLF Cyber City Developers Ltd (DCCDL) rental income stood at Rs 1,193 crore in the year-ago period, according to DLF’s latest investors presentation.
DLF holds nearly 67 per cent stake in DCCDL while Singapore’s sovereign wealth fund GIC has the remaining equity shareholding.
At present, DCCDL has a total operational portfolio of 44.3 million square feet area, comprising prime office and retail spaces. Around 4 million square feet is retail area and the rest is office spaces.
On financial performance front, DCCDL’s net profit before exceptional item rose 40 per cent to Rs 717 crore during the third quarter of this fiscal from Rs 514 crore in the year-ago period. Total revenue grew 17 per cent to Rs 1,878 crore from Rs 1,605 crore.
Its net debt stood at Rs 16,976 crore at the end of the latest December …