DCCDL raises Rs 1,100 crore through NCDs

DLF Cyber City Developers Limited (DCCDL), the rental of DLF Ltd has raised Rs 1,100 crore through a private placement of non-convertible debentures at a 6.91% coupon rate.

Majority of the company’s rental asset are part of DCCDL, a joint venture between DLF and GIC, a sovereign wealth fund from Singapore.

“DCCDL, a material subsidiary company and a high value debt listed entity, has approved allotment of 1,10,000 senior, rated, listed, secured, redeemable, transferable, rupee denominated Non-Convertible Debentures (NCDs) of the face value of Rs 1,00,000 each at a coupon rate of 6.91% per annum payable quarterly, for an aggregate principal amount of Rs 1,100 crore on private placement basis, to eligible investors,” DLF has said in a regulatory filing.


DLF Ltd’s net profit rose 19% year-on-year to Rs 766 crore in the quarter to June driven by a 78% surge in sales bookings at Rs 11,425 crore. Consolidated revenue stood at Rs 2,981 crore.


Consolidated revenue of DLF Cyber City Developers Ltd, the rental arm of DLF Ltd, stood at Rs 1,739 crore during the quarter, while EBITDA was at Rs 1,356 crore, reflecting a y-o-y growth of 14%.

Consolidated profit for the quarter was up 26% y-o-y at Rs 593 crore.

“We continue to witness strong demand for our portfolio leading to healthy occupancy levels at 94%. We commissioned an additional block of ~ 1.1 msf at DLF Downtown during the quarter, cementing our presence in the growing commercial market of Chennai,” the company had said.

Last year, DLF Info City Developers (Kolkata) Ltd., a wholly owned subsidiary of DCCDL, entered into definitive agreement to sell and transfer its Kolkata Tech Park 1 business undertaking to RDB Primarc Techno Park LLP ( An affiliate of Primarc & RDB group), for Rs 637 crore.

DLF expects strong growth in its income from rent in the next fiscal year starting April, with several projects in its rental portfolio getting completed or are projected to start generating revenue over the next few quarters.