+
DLF Sells Mumbai Project Phase 1 for Rs 23 Billion
Real Estate

DLF Sells Mumbai Project Phase 1 for Rs 23 Billion

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. 

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. 

Next Story
Infrastructure Energy

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?