Bengaluru: DLF has offered out all residences in a challenge in Mumbai for over ₹2,300 crore, marking a profitable return to the actual property market in India’s monetary capital.
DLF House Builders Ltd, a subsidiary of DLF Ltd, India’s most valued actual property firm, mentioned it offered all 416 models, together with residences and penthouses, within the first part of The Westpark challenge in suburban Mumbai’s Andheri (west) locality. The sale kicked off final week.
Though DLF launched the challenge with two 37-storey towers initially, excessive demand prompted it so as to add two extra towers. DLF is growing the challenge with New Delhi-based Trident Realty.
The developer offered your complete stock inside every week at a median worth of ₹42,500 per sq. foot. Non-resident Indians accounted for about 20% of the gross sales. Three of the 5 penthouses had been offered for ₹35 crore every, at about ₹70,000 per sq. ft.
“Mumbai tasks often promote at a staggered tempo. We’re overwhelmed by the demand for our challenge and the gross sales,” Aakash Ohri, joint managing director and chief enterprise officer of DLF House Builders, instructed Mint in an interview. “The Mumbai launch was necessary for DLF, and this offers us confidence to do extra within the metropolis.”
The Westpark challenge marks DLF’s return to Mumbai after exiting the property market there a few years in the past on account of a sector slowdown.
“Mumbai is a key a part of our nationwide progress technique. In Mumbai, prospects appreciated the product providing together with the facilities, adopted by the model worth. Given the way in which we now have entered the Mumbai market, we’re right here to remain,” Ohri added.
The Mumbai challenge follows comparable swift gross sales in Gurugram – DLF Privana West and Privana South, which collectively raked in ₹12,800 crore final yr, and its super-luxury challenge The Dahlias, which clocked about ₹13,744 crore of gross sales bookings in FY25.
Goa subsequent
The following huge challenge from the DLF steady will likely be in Goa, within the present July-September quarter. The second part of The Dahlias in Gurugram will likely be launched within the January-March quarter, Ohri mentioned.
DLF was the second highest-selling developer in FY25, after Godrej Properties Ltd. The corporate reported file gross sales bookings of ₹21,223 crore in FY25, up 44% from ₹14,778 crore the earlier yr. It has projected gross sales of ₹20,000-22,000 crore in FY26, banking on a pipeline that features the following part of The Dahlias, and the Mumbai and Goa launches.
DLF has already achieved about half of its focused gross sales for FY26 within the June-ended quarter. The corporate clocked ₹11,000 crore from bookings in Privana North, having offered your complete challenge stock inside every week of launch, it mentioned in June.
Mumbai recorded 75,672 property registrations within the six months ended 30 June, up 4% from 72,491 within the corresponding interval final yr, Anarock Property Consultants mentioned, citing information from the Inspector Common of Registration.