Delhi Gymkhana Club reported a 10-fold rise in surplus to ₹9.5 crore in FY24 while holding investments and mutual funds worth over ₹200 crore.
The Centre has asked the club to vacate its premises by June 5, citing the need to strengthen defence infrastructure in a “highly sensitive and strategic area.”
The club, known for its elite membership and powerful social circle, is also facing internal factionalism and legal scrutiny from government authorities.
Inside Delhi Gymkhana Club’s Wealth, Power and Eviction Battle
The Delhi Gymkhana Club, one of India’s oldest and most elite clubs, has reported a sharp jump in surplus and massive investments even as it faces a possible eviction by the Centre over strategic defence concerns
Delhi Gymkhana Club
Summary
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The Delhi Gymkhana Club, one of the country’s oldest clubs, reported a 10-fold surplus of ₹9.5 crore in FY24, compared to ₹93 lakh in the previous year. According to a report by The Times of India, the surplus comes even as auditors raised concerns over the likely non-renewal of its land lease by the Centre. The club is also fighting cases filed by the Ministry of Corporate Affairs.
The Delhi Gymkhana Club has been asked to vacate the premises by June 5 by the Union Ministry of Housing and Urban Affairs, failing which possession of the premises would be taken in accordance with the law.
The land was originally leased to the now Delhi Gymkhana Club Ltd for the purpose of maintaining a social and sporting club.
However, due to the rapid expansion of defence and military requirements, the Centre has sought the land for strengthening defence infrastructure, as it falls within a “highly sensitive and strategic area.”
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Financial Positioning
Though the Centre has notified the club, it has stated that it wants operations to continue without disruption. As per reports citing financial data, the club operates as a not-for-profit entity with a net worth of nearly ₹129 crore.
The primary sources of revenue for the club are its restaurants, bar, and banquet operations. The club also has a robust investment portfolio, with total investments worth ₹162 crore as of March 2025 and mutual fund holdings valued at ₹217 crore.
As per the TOI report, the club’s largest holding was in the Aditya Birla Sun Life Corporate Bond Fund at a face value of ₹18.7 crore, followed by the Kotak Corporate Bond Fund at ₹14.2 crore, the ICICI Prudential Corporate Bond Fund at ₹13.5 crore, and the ICICI Pru Banking and PSU Debt Fund at ₹11 crore.
The report also stated that over ₹24 crore was parked in bank fixed deposits with maturities exceeding 12 months, while bank balances stood at over ₹2 crore as of March 31, 2024.
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Members and Social Circle
As of the end of March 2024, the club had 5,018 permanent members and 27 life members. Nearly 3,000 users of the club premises and over 5,000 green card holders were also associated with the club.
The club additionally had 93 eminent category members, 80 corporate members, 1,323 lady subscribers, one diplomat, and a single temporary member, the report added.
Constant Frictions
The club has witnessed deep factionalism between defence services and civil services members, along with accusations of embezzlement and mismanagement, the report said. Government authorities have also accused the club of straying from its founding purpose of promoting sports and recreational activities.