Marking a bold comeback to India’s financial capital after over ten years, DLF Ltd, the country’s largest listed real estate developer has launched ‘ Westpark’, a Rs 900-crore luxury residential project in Andheri (West).
The move signals DLF’s renewed confidence in Mumbai’s booming premium housing market and marks its first residential venture outside Delhi-NCR.
Developed in partnership with Trident Group under the Slum Rehabilitation Authority (SRA) scheme, the project is a strategic shift aimed at capturing the city’s soaring demand for high-end homes. The 5.18-acre project offers 416 high-end apartments priced between Rs 4 crore and Rs 7.5 crore. The flats are being sold at Rs 42,000 to Rs 47,000 per sq ft, with DLF aiming for sales realisation of around Rs 2,300 crore.
“We have launched a luxury housing project ‘Westpark’ in Mumbai comprising 416 apartments,” said Aakash Ohri, Joint Managing Director, DLF Home Developers at the launch. “It will be around ₹800–900 crore investment. We plan to sell around 200 units initially, but we might consider selling all 416 depending on demand.”
DLF holds a 51% stake in the special purpose vehicle developing the project, with Trident holding the remaining 49%.
A strategic reset?
DLF had exited Mumbai in 2012, selling its 17-acre land parcel in Lower Parel to Lodha Developers for Rs 2,700 crore as part of a debt-reduction exercise.
Its return now follows years of financial strengthening and a calibrated focus on high-margin luxury and super-luxury housing.
Also Read: Luxury development boom stokes jump in Indian real estate shares
In the previous year, the company launched 7.5 million sq ft area during the last fiscal year for sale with an estimated revenue potential of Rs 40,600 crore. The Gurgaon-based developer recorded Rs 21,223 crore in sales bookings in FY25, a 44% rise from the previous year. Net profit surged to Rs 4,366.8 crore, supported by strong customer collections and cash flows.
“We have a strong launch pipeline to meet the aspirational needs of the market; we remain on track to deliver on our outlined goals,” said Rajiv Singh, Chairman, DLF, in the company’s annual report. “Both our residential and rental businesses experienced robust growth, driven by exceptional performance and timely execution.”
Banking on Mumbai’s real estate boom
DLF’s re-entry is timed to coincide with a historic upcycle in Mumbai’s property market. According to an ET Bureau report citing official data from the Inspector General of Registration and Controller of Stamps, Maharashtra, the city registered 75,933 property deals in the first half of 2025, up 5% year-on-year, fetching Rs 6,727 crore in stamp duty revenue, up 15% YoY.
Both are the highest ever for any half-year period.
“Mumbai’s residential market continues to reflect steady buyer confidence… The appetite for larger homes and properties priced above ₹5 crore remains strong, driving healthy revenue collections,” Shishir Baijal, CMD, Knight Frank India had said in June.
The buoyancy is largely driven by sustained demand for luxury and high-value homes, backed by interest rate cuts and rapid infrastructure development, including Metro network expansion, the Mumbai Coastal Road, and upgrades to arterial roads and expressways.
“The sales pattern underscores a structural shift in demand, particularly for larger, high-value exclusive homes, as buyers continue to prioritise long-term lifestyle, community living and location choices. This trend is being reinforced by the government’s ongoing efforts to upgrade infrastructure across the Mumbai region. These developments are not only enhancing connectivity but also reshaping buyer perceptions of emerging micro-markets,” Parthh K Mehta, CMD, Paradigm Realty had said.
Even as 84% of all registrations in June were for apartments under 1,000 sq ft (split evenly between the 500–1,000 sq ft and under-500 sq ft segments), the luxury segment is clearly gaining momentum, especially in the western suburbs, which contributed 57% of registrations, followed by the central suburbs at 31%.
Road ahead
Brokerages have taken note. Jefferies' Chris Wood, in March, had exited Godrej Properties while raising his stake in two other Indian realty giants, one of them being DLF with a 3% allocation. This reaffirmed Jefferies’ bullish stance on Indian real estate — a sector the brokerage has supported for several years and was only timely as the Gurugram-based real estate major plans to launch housing projects worth Rs 17,000 crore in the current fiscal year.
Furthermore, DLF has set a target to sell housing properties worth Rs 20,000-22,000 crore during 2025-26, almost in line with the last financial year.
Having already sold out recent luxury launches in Gurugram, including Privana North and the super-luxury ‘Dahlias’ project, DLF’s ability to tap Mumbai’s premium market will be a critical test of its pan-India aspirations.
"We continue to invest in capex for our new build-outs in Gurugram, Chennai, Delhi, and Goa," the DLF boss had said in the annual report for FY25. The chairman said three retail properties are set to open to the public in the near future. "As we pursue growth, we continue to remain guided by our core values of good corporate governance, transparency, compliances, safety, quality and customer satisfaction," Singh said.
DLF’s cautious, high-value re-entry via a well-located SRA project with a trusted partner suggests a deliberate, capital-efficient approach. With high demand especially in Mumbai, premium buyer base that continues to grow, and easing interest rates, DLF’s bet may be well-timed.
The move signals DLF’s renewed confidence in Mumbai’s booming premium housing market and marks its first residential venture outside Delhi-NCR.
Developed in partnership with Trident Group under the Slum Rehabilitation Authority (SRA) scheme, the project is a strategic shift aimed at capturing the city’s soaring demand for high-end homes. The 5.18-acre project offers 416 high-end apartments priced between Rs 4 crore and Rs 7.5 crore. The flats are being sold at Rs 42,000 to Rs 47,000 per sq ft, with DLF aiming for sales realisation of around Rs 2,300 crore.
“We have launched a luxury housing project ‘Westpark’ in Mumbai comprising 416 apartments,” said Aakash Ohri, Joint Managing Director, DLF Home Developers at the launch. “It will be around ₹800–900 crore investment. We plan to sell around 200 units initially, but we might consider selling all 416 depending on demand.”
DLF holds a 51% stake in the special purpose vehicle developing the project, with Trident holding the remaining 49%.
A strategic reset?
DLF had exited Mumbai in 2012, selling its 17-acre land parcel in Lower Parel to Lodha Developers for Rs 2,700 crore as part of a debt-reduction exercise.
Its return now follows years of financial strengthening and a calibrated focus on high-margin luxury and super-luxury housing.
Also Read: Luxury development boom stokes jump in Indian real estate shares
In the previous year, the company launched 7.5 million sq ft area during the last fiscal year for sale with an estimated revenue potential of Rs 40,600 crore. The Gurgaon-based developer recorded Rs 21,223 crore in sales bookings in FY25, a 44% rise from the previous year. Net profit surged to Rs 4,366.8 crore, supported by strong customer collections and cash flows.
“We have a strong launch pipeline to meet the aspirational needs of the market; we remain on track to deliver on our outlined goals,” said Rajiv Singh, Chairman, DLF, in the company’s annual report. “Both our residential and rental businesses experienced robust growth, driven by exceptional performance and timely execution.”
Banking on Mumbai’s real estate boom
DLF’s re-entry is timed to coincide with a historic upcycle in Mumbai’s property market. According to an ET Bureau report citing official data from the Inspector General of Registration and Controller of Stamps, Maharashtra, the city registered 75,933 property deals in the first half of 2025, up 5% year-on-year, fetching Rs 6,727 crore in stamp duty revenue, up 15% YoY.
Both are the highest ever for any half-year period.
“Mumbai’s residential market continues to reflect steady buyer confidence… The appetite for larger homes and properties priced above ₹5 crore remains strong, driving healthy revenue collections,” Shishir Baijal, CMD, Knight Frank India had said in June.
The buoyancy is largely driven by sustained demand for luxury and high-value homes, backed by interest rate cuts and rapid infrastructure development, including Metro network expansion, the Mumbai Coastal Road, and upgrades to arterial roads and expressways.
“The sales pattern underscores a structural shift in demand, particularly for larger, high-value exclusive homes, as buyers continue to prioritise long-term lifestyle, community living and location choices. This trend is being reinforced by the government’s ongoing efforts to upgrade infrastructure across the Mumbai region. These developments are not only enhancing connectivity but also reshaping buyer perceptions of emerging micro-markets,” Parthh K Mehta, CMD, Paradigm Realty had said.
Even as 84% of all registrations in June were for apartments under 1,000 sq ft (split evenly between the 500–1,000 sq ft and under-500 sq ft segments), the luxury segment is clearly gaining momentum, especially in the western suburbs, which contributed 57% of registrations, followed by the central suburbs at 31%.
Road ahead
Brokerages have taken note. Jefferies' Chris Wood, in March, had exited Godrej Properties while raising his stake in two other Indian realty giants, one of them being DLF with a 3% allocation. This reaffirmed Jefferies’ bullish stance on Indian real estate — a sector the brokerage has supported for several years and was only timely as the Gurugram-based real estate major plans to launch housing projects worth Rs 17,000 crore in the current fiscal year.
Furthermore, DLF has set a target to sell housing properties worth Rs 20,000-22,000 crore during 2025-26, almost in line with the last financial year.
Having already sold out recent luxury launches in Gurugram, including Privana North and the super-luxury ‘Dahlias’ project, DLF’s ability to tap Mumbai’s premium market will be a critical test of its pan-India aspirations.
"We continue to invest in capex for our new build-outs in Gurugram, Chennai, Delhi, and Goa," the DLF boss had said in the annual report for FY25. The chairman said three retail properties are set to open to the public in the near future. "As we pursue growth, we continue to remain guided by our core values of good corporate governance, transparency, compliances, safety, quality and customer satisfaction," Singh said.
DLF’s cautious, high-value re-entry via a well-located SRA project with a trusted partner suggests a deliberate, capital-efficient approach. With high demand especially in Mumbai, premium buyer base that continues to grow, and easing interest rates, DLF’s bet may be well-timed.
You may also like
Viral: Astronomer CEO Andy Byron caught cheating with his HR chief at Coldplay concert, they hide their face as crowd laughs
KitKat lovers race to B&M to buy 2 new flavours 'they can't wait to try'
'Beautiful' designer watch reduced from £215 down to £92 in huge 57% off sale
Ahmedabad Air India Crash: India Calls Out Foreign Media For 'Irresponsible' Reporting
Gloucestershire Spinner Tom Smith Announces Retirement
