DLF eyes setting up 2-3 shopping malls in FY20

DLF Shopping Malls will be setting up 2-3 new shopping centres later this year. Presently, the real estate major is operating five shopping centres, with four of them being in Delhi/NCR and one in Chandigarh.

Pushpa Bector, Executive Vice-President and Head, DLF Shopping Malls, said, “We will make the announcement on two-to-three malls in FY20. Two may be in NCR (National Capital Region) and one could be outside NCR.”

DLF Shopping Malls also looks to expand in Tier I and II cities in the near future.

“We are looking at other metro cities. At the right time, we will unveil all of them. It will be an interesting mix of Tier I and Tier II,” Bector added.

DLF Shopping Malls largely uses the lease model for rolling out malls. Going forward, it intends to use both outright purchase and leased models. The company generates Rs 3,000 crore in revenue, of which Mall of India alone garners Rs 1,500 crore in revenue.

Bector further stated, “Going forward, my orientation is much more mixed-use because when you are in an eco-system of offices and malls you have to use both models.”