DLF expects to launch its Mumbai project in Q1 FY26, Goa project in the second half of the year

Hindustan Times

21-05-2025

Real estate major DLF has announced plans to launch the first phase of its Mumbai project by June 2025, within the first quarter of the current financial year. The company also plans to enter the Goa real estate market, with its debut project scheduled for launch in the second half of the financial year.
'We are working towards launching our first Mumbai project by Q1 FY26,' said Aakash Ohri, joint managing director of DLF, during the Q4 FY25 investors' call.
Explaining the delay, Ashok Kumar Tyagi, managing director and chief financial officer (CFO) of DLF, said, "The reason for the delay in the project is because of the multiplicity involved in the project, since it is a slum rehabilitation project."
DLF is developing its first project in the Mumbai real estate market in partnership with the Trident Group under the Slum Rehabilitation Authority (SRA) scheme. Located in Andheri, the project's first phase will span approximately 1 million square feet.
Initially announced in January 2024, the project will offer premium 3 BHK and 3 BHK+ apartments, with prices expected to range between ₹5.5 crore and ₹7.5 crore.
DLF announced its re-entry into the Mumbai real estate market in July 2023. In 2005, DLF purchased 17 acres of prime mill land in Lower Parel at a National Textile Corporation auction for ₹704 crore, the highest bid at the time. After the 2008 economic crisis, it changed its plans and sold the land to Lodha, also known as Macrotech Developers, for ₹2,700 crore in 2012.
Also Read: Here's why Mumbai's redevelopment boom is drawing developers from Bengaluru, NCR, and Hyderabad
According to Tyagi, the Goa project will be launched in the second half of the ongoing financial year.
As per media reports, DLF is expected to launch 62 ultra-luxury villas in Goa, priced between ₹40 crore and ₹50 crore.
On an analyst call, Aakash Ohri said, "...there is a sizable demand for both the products, both here (Delhi) in Privana and in Mumbai, both from the micro-geographies, rest of the countries, as well as the NRIs. " He further highlighted that, "Presently, the two Privanas that were sold last year are trading at a premium of ₹2,500 to ₹4,000 psf at present."
On housing demand in 2024-25, Ohri said, "Housing demand for good houses continues there and Gurgaon today has become a very solid investment option too" He owed the growing demand in Gurugram to the cyber city, along with the major workforce."
Also Read: DLF's Aakash Ohri says 'careful, cautious, and confident' about upcoming Mumbai project launch
Buoyed by record pre-sales in the last fiscal, India's largest realty firm DLF on May 20 said it is targeting to sell housing properties worth ₹20,000-22,000 crore during 2025-26, driven by robust demand for its luxury properties.
On May 19, DLF reported record sales bookings of ₹21,223 crore in 2024-25, an increase of 44% from ₹14,778 crore in the preceding financial year.
In a conference call with analysts held on May 20, DLF's Managing Director Ashok Kumar Tyagi said, "Our pre-sales guidance for this fiscal is ₹20,000-22,200 crore."
Also Read: DLF profit surges 39% in January-March quarter to touch ₹1282 cr; sales bookings up 44% to clock ₹21,223 cr in FY25
He said the company would like to maintain the sales momentum achieved during the last financial year.