DLF to invest up to Rs 3,000 crore to build new malls in 5 years

DLF Ltd will invest up to Rs 3,000 crore over the next five years to develop shopping malls across India as it looks to cash in on opportunities following the further opening up of FDI in retail sector.
The company will develop 3.5 million square feet to 4 million square feet of retail space as it expects heightened activity with the government approving 51 per cent foreign direct investment in multi-brand retail and 100 per cent in single brand.
Most of the new retail malls will come up in cities including the Capital, NCR, Jalandhar, Lucknow, Kolkata, Chennai, Kochi and Indore.
The investments would be arranged through internal accruals.