India’s largest real estate company, DLF Ltd, in partnership with Trident Realty, has sold all 416 flats in its Mumbai luxury residential project, The Westpark, for around Rs 23 billion, within a week of its launch.

In a regulatory filing on Friday, DLF confirmed that the entire inventory released in Phase 1 of the Andheri West project has been sold, reflecting robust demand in the premium housing segment.

Strategic Milestone for DLF

“This marks a major strategic milestone for DLF as we enter Mumbai,” said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. He added that Mumbai has always been integral to DLF’s national expansion strategy and The Westpark embodies the aspirations of the city’s luxury homebuyers.

Project and Pricing Details

DLF and Trident will invest approximately Rs 9 billion to develop this five-acre luxury development. Flats were priced between Rs 4 crore and Rs 7.5 crore, at Rs 42,000 to Rs 47,000 per square foot.

The project is being executed by DLF Home Developers Ltd, a subsidiary of DLF, with DLF holding a 51 per cent stake in the SPV and Trident holding 49 per cent. It is part of a Slum Rehabilitation Authority (SRA) redevelopment initiative.

DLF had exited Mumbai in 2012 after selling a 17-acre land parcel to Lodha Developers for Rs 27 billion. Its previous joint ventures, including one with Akruti City, did not materialise into project launches.

Strong Sales Momentum in FY25

DLF has already achieved more than 50 per cent of its FY25 sales bookings target following sell-outs in both Gurugram and Mumbai. In June, DLF sold out the Privana North project in Gurugram (1,164 units) for Rs 110 billion, with a planned investment of Rs 55 billion.

For FY24-25, DLF recorded sales bookings of Rs 212.23 billion, a 44 per cent jump from Rs 147.78 billion the previous year. The company is targeting Rs 200–220 billion in sales for FY25.

Financial Performance and Future Pipeline

DLF’s net profit rose to Rs 43.67 billion in FY24-25, up from Rs 27.24 billion in the prior year. Total income increased to Rs 89.96 billion, compared to Rs 69.58 billion in FY23-24.

To date, DLF has developed over 185 real estate projects covering more than 352 million square feet. Its current and upcoming residential and commercial pipeline offers 280 million square feet of development potential. The group also holds an annuity portfolio of over 45 million square feet, with a strong presence in both leasing and property sales.