DLF Limited unveils 3 million sq ft development potential in Hyderabad

The company revealed an impressive development potential of 3 million square feet (msf) in Hyderabad. This marks a substantial expansion in DLF's real estate portfolio.

Hyderabad: In a recent disclosure, DLF Limited reported its third-quarter financial results for the fiscal year 2023-24, unveiling significant development potential in Hyderabad.

The company revealed an impressive development potential of 3 million square feet (msf) in Hyderabad. This marks a substantial expansion in DLF’s real estate portfolio.

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Further, the company showcased a substantial leasable area of 3.1 msf. Of this, 2.3 msf has already been leased, demonstrating a robust occupancy rate. According to the report, the remaining 0.8 msf stands as vacant space, offering future potential for further leasing and development.

Notably, the percentage of leased area stands at an impressive 75 per cent.

The weighted average rate is priced at Rs 60 per square foot, while the Weighted Average Lease Expiry (WALE) stands at an impressive 68 months, highlighting the long-term stability of leases within the portfolio.

According to the report, the gross asset value for this quarter is reported at Rs 2,497 crore, indicating the overall value of the assets under consideration.