Bharti Real Estate, the property arm of Bharti Enterprises, is looking at a rental income of over Rs 6,000 crore a year from its commercial property, Worldmark in Aerocity, near Delhi’s Indira Gandhi International Airport.
The company is developing the 17-million square feet property in phases. As part of Worldmark 2.0, about 3.5 million sq ft of office property will be completed by the end of this year and 3.5 million sq ft of mall and high street space will be completed by the end of next year.
The total development planned by Bharti is over 50% higher than the office stock in the Bandra Kurla Complex in Mumbai, one of the new business districts in the country, which has a total stock of 11 million sq ft.
The company is planning to invest Rs 20,000 crore to develop the entire portfolio and Bharti Real Estate has already started work on Worldmark 3.0.
“The entire investment can be raised through LRD (lease rental discounting). We will decide whether to go for LRD or REIT once we complete and get tenants. The company has leased 1 million sq ft in FY25 and are looking to lease a similar number this financial year as well. The developer leased the property at around Rs 250 per sq ft. Whatever we will complete this year, we will be able to lease,” informed SK Sayal, managing director and CEO, Bharti Real Estate.
