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Real estate developer DLF's rental arm DLF Cyber City Developers has raised around Rs 2,500 crore through two lease rental discounting (LRD) transactions. The developer bagged the fund against two rental assets at DLF Cyber City in Gurgaon. The two transactions include one for Rs 2,400 crore that the company raised from State Bank of India (SBI) in October last year at an interest of 7.35% for a tenure of 15 years and the last transaction at a 6.7% interest rate. Companies that operate rental assets raise money from banks through LRDs using rental receipts as collateral. The banks take into account the company's long term rental income, and the loan repayment is made using the rental income.4th Indian Cement Review Conference 202117-18 March Click for event info DLF, which operates around 35 million sq ft of grade A assets in the country under its rental arm, is expected to raise it to 40 million sq ft by December 2021. The two properties that are already part of DLF Cyber City Developers will become operational soon. The company will also bring in three or four more assets that are currently under DLF. Currently, the company's total debt is at almost Rs 19,000 crore, and it is planning an interest rate reduction of 120 basis points. The company has developed 153 real estate projects with a total area of about 330 million sq ft. About 40 million sq ft of rent yielding commercial assets will be put under a Real Estate Investment Trust (REIT) by DLF Cyber City Developers. DLF Cyber City Developers maintained a 95% occupancy level and collected 96% of its rentals in the past two quarters that were marked by the pandemic. Image Source Also read: DLF - GIC to launch investment trust in 18 months Also read: DLF to buy Rs 780 cr stake in commercial project in Gurugram