DLF Group has 45 million square feet of commercial assets, which include 41 million sq feet of office and 4 million square feet of retail spaces, with an annual rental income of than Rs 5,000 crore.

NEW DELHI: Realty major DLF will invest Rs 10,000 crore in the current and next fiscal year to build premium office spaces and shopping malls to enhance its rental income, a senior company official said. DLF Group has 45 million square feet of commercial assets, which include 41 million square feet of office and 4 million square feet of retail spaces, with an annual rental income of more than Rs 5,000 crore.

India's Grade A++ commercial real estate has emerged as a global value proposition offering world-class quality at a more efficient cost," DLF Vice Chairman and Managing Director (Rental Business) Sriram Khattar told PTI. To leverage this advantage, DLF Group, which has a huge licensed land bank, is expanding its portfolio of rent-yielding commercial assets in a big way and constructing office and retail complexes in Gurugram, Chennai, Delhi and Noida amid strong demand from corporates and retailers. The development of premium shopping malls and office spaces would "significantly boost rental income in the coming years

DLF Group holds the bulk of its commercial assets under its joint venture company DLF Cyber City Developers Ltd (DCCDL). In this JV firm, DLF has a 66.67 per cent stake while Singapore sovereign wealth firm GIC has a 33.33 per cent shareholding. DLF Group also has a JV with US-based Hines to develop a 3 million square feet office complex in Gurugram. It has a 67 per cent stake in this JV. Out of the total 45 million square feet of the Group's operational portfolio, around 43 million square feet are under DCCDL.