DLF Expands Retail and Data Centre Horizons with New Projects Across India

Delhi-NCR Real Estate Giant Embarks on Ambitious Growth Plan

Delhi NCR-based real estate developer DLF is set to significantly bolster its retail and data centre portfolios, with new projects spanning Delhi, Gurugram, and Goa. Sriram Khattar, Vice Chairman and MD (Rental Business) of DLF, revealed these plans in a recent interview with Moneycontrol.

Strategic Retail Expansion

DLF plans to construct three new malls to enhance its retail footprint. The upcoming malls will be located in Moti Nagar, Delhi; DLF Phase-5, Gurugram; and Panjim, Goa. Khattar noted that while mall expansion was paused during the COVID-19 pandemic, the company’s focus has now shifted back to growing its retail presence.

The malls in Delhi and Gurugram will feature high-street formats, set to generate rental income by early 2025. The Goan mall will be a comprehensive shopping destination, with its development projected to start in early 2026. Upon completion, DLF’s retail portfolio, currently at 5 million square feet, will expand to approximately 6.3 million square feet.

Flagship Mall of India in Gurugram

Additionally, DLF has commenced work on the Mall of India in Gurugram, expected to cater to the city’s burgeoning middle and upper-middle-class demographic. This flagship mall is anticipated to open in 2028.

Robust Financial Performance

In recent financial disclosures, DLF reported a 23% increase in net profit, reaching Rs 646 crore for Q1 FY25. The rental business contributed to a steady performance, with DLF Cyber City Developers Limited (DCCDL) reporting a 10% growth in consolidated revenue and a 20% increase in profit for the quarter.

Expanding Data Centre Footprint

DLF’s data centre ambitions are also taking shape, with the nearing completion of its second facility in Noida. A third data centre is scheduled to begin construction shortly, with an option for a fourth. These edge data centres, with a capacity of around 25 mega-watts each, cater to a Singapore-based tenant and are strategically located near the upcoming Noida International Airport and metro station.

Focus on Grade A++ Office Space

Khattar emphasized DLF’s commitment to expanding its Grade A++ office space offerings. He highlighted the importance of differentiating Grade A++ properties, which are benchmarked against global standards in terms of infrastructure, sustainability, and scalability. DLF’s office portfolio, encompassing about 45 million square feet of Grade A++ space and 14-15 million square feet in SEZs, reflects this focus.

Rising Demand from Global Capability Centres

The office leasing market in India is witnessing increased activity, particularly from Global Capability Centres (GCCs) and multinational corporations. These entities are driving demand for scalable Grade A++ spaces, underscoring the need for developers who can accommodate future expansion.

With these strategic developments, DLF aims to strengthen its market position and cater to the evolving needs of retail, data centre, and office space sectors.