DLF Sells Mumbai Project Phase 1 for Rs 23 Billion

29 Jul 2025 CW Team

The initial phase spans roughly 900,000 square feet, developed under a slum rehabilitation scheme, with more land expected to be added in stages. The Westpark project, situated on 5.18 acres within a 10-acre master plan, includes eight proposed towers. In the first phase, four towers of 37 storeys each offered 416 residences comprising spacious 3 and 4 BHK units ranging from 1,125 to 2,500 square feet, along with select penthouses.

Notably, 20 per cent of the buyers were non-resident Indians (NRIs), reflecting the project’s strong international appeal. DLF's NRI sales for the last fiscal reached USD 421 million, signalling increasing interest from global investors.

Aakash Ohri, Joint Managing Director and Chief Business Officer at DLF Homes, said: “We initially opened two towers for sale, but following overwhelming demand, we released the remaining inventory. The entire phase sold out in five days.”

The swift sales support DLF’s broader goal to surpass its FY25 new sales bookings, which have already reached Rs 212.23 billion—exceeding its earlier guidance of Rs 170–180 billion. For the March quarter, DLF reported a net profit of Rs 12.68 billion, a 37 per cent rise year-on-year.

Over the full fiscal year, consolidated net profit climbed 59 per cent to Rs 43.57 billion, while total revenue reached Rs 89.96 billion. These figures reflect DLF’s ability to sustain growth amid broader industry concerns of slowing demand following a two-year property boom.

DLF has ambitious plans to launch 37 million square feet of new projects from FY25 onwards, with a total sales potential of Rs 1.145 trillion. This outlook signals the company's strong confidence in market demand and its ability to deliver at scale.

While other leading developers such as Godrej Properties and Oberoi Realty remain active in Mumbai’s competitive high-end market, DLF’s rapid sales and strategic expansion underline its adaptability and solidify its position in the city’s dynamic real estate landscape.

DLF has successfully completed the first phase sale of its debut project in Mumbai, generating pre-sales revenue of Rs 23 billion. This marks a major milestone for DLF’s entry into the Mumbai real estate market, following its strategic partnership with Trident Realty. In July 2023, DLF acquired a 51 per cent stake in the special purpose vehicle developing approximately 3.5 million square feet in Andheri West.The initial phase spans roughly 900,000 square feet, developed under a slum rehabilitation scheme, with more land expected to be added in stages. The Westpark project, situated on 5.18 acres within a 10-acre master plan, includes eight proposed towers. In the first phase, four towers of 37 storeys each offered 416 residences comprising spacious 3 and 4 BHK units ranging from 1,125 to 2,500 square feet, along with select penthouses.Notably, 20 per cent of the buyers were non-resident Indians (NRIs), reflecting the project’s strong international appeal. DLF's NRI sales for the last fiscal reached USD 421 million, signalling increasing interest from global investors.Aakash Ohri, Joint Managing Director and Chief Business Officer at DLF Homes, said: “We initially opened two towers for sale, but following overwhelming demand, we released the remaining inventory. The entire phase sold out in five days.”The swift sales support DLF’s broader goal to surpass its FY25 new sales bookings, which have already reached Rs 212.23 billion—exceeding its earlier guidance of Rs 170–180 billion. For the March quarter, DLF reported a net profit of Rs 12.68 billion, a 37 per cent rise year-on-year.Over the full fiscal year, consolidated net profit climbed 59 per cent to Rs 43.57 billion, while total revenue reached Rs 89.96 billion. These figures reflect DLF’s ability to sustain growth amid broader industry concerns of slowing demand following a two-year property boom.DLF has ambitious plans to launch 37 million square feet of new projects from FY25 onwards, with a total sales potential of Rs 1.145 trillion. This outlook signals the company's strong confidence in market demand and its ability to deliver at scale.While other leading developers such as Godrej Properties and Oberoi Realty remain active in Mumbai’s competitive high-end market, DLF’s rapid sales and strategic expansion underline its adaptability and solidify its position in the city’s dynamic real estate landscape.

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