DLF Cyber City Developers to Raise Up to ₹1,100 Crore Through NCD

DLF Cyber City Developers (DCCDL), a joint venture between DLF and Singapore’s Sovereign Wealth Fund GIC, has laid out fresh fundraising and growth plans for the current financial year. 

With capital requirements running high and ongoing projects across key cities, the company is adopting a balanced approach to expansion and debt management. CRISIL has supported this outlook by assigning its top rating to the new debt instruments.

Funding Strategy and Capital Plans

As per news reports, the company intends to raise as much as ₹1,100 crore via non-convertible debentures (NCDs), with proceeds earmarked for construction activities and repayment of borrowings.

DCCDL has set an annual capital expenditure target of ₹3,500–4,000 crore for FY26, which is expected to moderate to around ₹2,000 crore in the medium term. Alongside this, the group has annual interest obligations of ₹1,500–2,000 crore, with most repayments planned through refinancing.

Financial Performance

For Q1FY26, DCCDL reported operating income of ₹1,728 crore, compared to ₹1,536 crore in Q1FY25. Net profit also rose to ₹593 crore from ₹470 crore a year earlier.

At present, DCCDL operates around 40.4 million square feet of commercial real estate and 4 million square feet of retail space spread across Gurugram, Noida, Delhi, Chennai, Hyderabad, and Chandigarh.

Read More: DLF Share Price in Focus; Posts 19% Profit Rise in Q1FY26 Results!

DLF Share Price Performance 

As of September 15, 2025, 2:34 PM, DLF share price is trading at ₹774.60 per share, reflecting a surge of 2.14% from the previous closing price. 

Conclusion

DCCDL’s plan to raise funds through NCDs, backed by CRISIL’s top rating, reflects confidence in its operational stability and financial prudence. While expansion comes with execution risks, its focus on controlled leverage and sustainable rental growth positions the company to strengthen its leadership in India’s commercial real estate sector.

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