DLF to launch ₹2,500cr luxury housing project in Mumbai's Andheri
What's the story
DLF Ltd, India's leading real estate company, is gearing up to launch a high-end housing project in Mumbai in the next two weeks. The ₹2,500 crore development will be located in Andheri and is being built in collaboration with Trident Realty. The first phase of the project will see the construction of over 400 homes. Each unit is expected to be priced between ₹5-7 crore.
Market entry
All regulatory approvals for the project are in place
The upcoming project marks DLF's foray into Mumbai's residential market. The company has received all regulatory approvals for the launch, including Real Estate Regulatory Authority (RERA) clearance. The first phase will comprise four towers with a total of 416 units. This is part of DLF's strategy to expand its footprint in India's top cities and meet rising demand for premium housing.
Sales achievement
Privana North housing project in Gurugram
Earlier this month, DLF launched its DLF Privana North housing project in Gurugram. DLF plans to invest approximately ₹5,500 crore in developing this 17.7-acre project. Interestingly, this 1,164-unit development has already been completely sold out for around ₹11,000 crore. Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers, revealed that 27% of the demand for this project came from non-resident Indians (NRIs).
Financial growth
DLF's net profit jumped to ₹4,366.82 crore
DLF reported record sales bookings of ₹21,223 crore in the 2024-25 fiscal year, a 44% increase from ₹14,778 crore in the previous fiscal. The company's MD, Ashok Tyagi, has set a sales bookings guidance for this fiscal year at ₹20,000-22,000 crore. This is nearly on par with last year's figures. DLF's net profit also jumped to ₹4,366.82 crore during FY24-25 from ₹2,723.53 crore in FY23-24.