DLF asks its independent directors to review rental business

NEW DELHI: Realty major DLF has asked the company's independent directors to review its rental business and suggest ways to drive long term growth.

DLF, the country's largest real estate firm, earned a rental income of about Rs 2000 crore last fiscal by leasing its commercial properties including office and shopping malls.

DLF said its board of directors in a meeting held on August 29 had asked the independent directors to evaluate, review and recommend various strategic options available for driving the long term growth of rental business.

The independent directors had also been asked to suggest optimum structure for the rental business in order to improve efficiency and reduce conflict of interest, if any, inter-se affiliated person/entities.

DLF posted a net profit of Rs 646 crore over a turnover of Rs 9790 crore. It has a land bank of about 300 million sq ft, of which 57 million sq ft is under construction.