DLF adds 1.5m sq ft of retail space across three new destinations
DLF has opened Midtown Plaza in New Delhi and expects Summit Plaza in Gurugram and Promenade in Goa to begin operations this fiscal year. The three additions will contribute about 1.5 million sq ft of gross leasable retail area as the developer’s rental portfolio operates at 95% occupancy.
DLF reported Q1 profit growth and strong cash generation while outlining three retail-destination additions totaling about 1.5 million sq ft. Midtown Plaza in New Delhi has opened; Summit Plaza in Gurugram and Promenade in Goa are expected to commence operations this fiscal year.
Why this matters
The additions align with DLF's ₹6,000-crore plan for 75 lakh sq ft of Gurugram office and retail space. They follow a Q1 in which profit rose 4% despite a 53% revenue decline and EBITDA margin contraction.
Store-opening activity is steady, with 1,697 signals recorded in the past 90 days.