Latest news with #DLFHomeDevelopersLtd
Hindustan Times
14 hours ago
- Business
- Hindustan Times
DLF sells out Phase 1 of Mumbai debut project: 20% buyers are NRIs from Mumbai, penthouses sold for ₹70,000 per sq ft
Delhi-NCR-based real estate major DLF has said that 20% of homebuyers for its debut premium residential project in Mumbai, The WestPark in Andheri West, are Non-Resident Indians (NRIs), primarily those originally from Mumbai. The company has also secured bookings from members of the Bollywood fraternity. Mumbai real estate update: Delhi-NCR-based real estate major DLF has said that 20% of homebuyers for its debut premium residential project in Mumbai, The WestPark in Andheri West, are Non-Resident Indians (NRIs), primarily those originally from Mumbai. (Picture for representational purposes only)(Pexels) DLF revealed on July 25 that it has sold out all four towers launched under Phase 1, generating sales bookings worth ₹2,300 crore. The project was officially launched on July 17. 'We have around 20% homebuyers who are NRI but originally from Mumbai. Our teams visited places like Kuwait, the US, UK, and Singapore, where we received several bookings from NRI homebuyers,' said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. Ohri said that DLF also received bookings from homebuyers based in South Mumbai, Pune, Nanded, Gujarat, and other regions. 'We've also had four to five bookings from the Bollywood fraternity,' he confirmed, though he declined to reveal specific names. Initially, the company launched two towers comprising part of the 416 apartments available in Phase 1. However, due to high demand, two additional towers were released, leading to a 'complete sellout' of the phase. "The second phase launch will now be looked into, and we will work on getting approvals for the second phase. We look forward to launching the second phase next year around this time." Ohri said. Speaking on the difference between homebuyers in Mumbai and Delhi-NCR, Ohri noted that Mumbai buyers tend to be more personally involved in the homebuying process. He said that they are not only seeking the signature DLF lifestyle, but are also specifically looking for larger-sized apartments. "We received feedback that we should have bigger 3 BHK apartments, and in the next phase, we will work towards it," Ohri said. According to the company, the entire project is spread across 10 acres and will feature a mix of 3 BHK and larger apartments ranging from 1,125 sq ft to 2,500 sq ft. In the first phase, apartments are priced between ₹37,500 and ₹54,000 per sq ft. However, Ohri said that the company managed to sell the penthouses in the project at a price of ₹70,000 per sq ft.' Also Read: DLF sells all 416 luxury apartments worth ₹2,300 crore in its debut Mumbai project More projects in the Mumbai real estate market According to Ohri, the company has already received a few proposals for more projects in the Mumbai real estate market. "We already have a few proposals, but nothing is concrete for now. Anybody can send proposals that way, but for now, we have to go to the board and inform them about our Andheri progress, followed by the further strategy for the next phase in Andheri," Ohri said. Goa launch According to Ohri, DLF plans to enter the Goa real estate market with its first project, which will feature luxury villas priced above ₹50 crore. 'In the coming months, our focus will be on launching these ultra-luxury developments,' he said. Also Read: Mumbai real estate: All you need to know about the Andheri West real estate market as DLF launches its first project All about its Mumbai real estate market project On July 17, DLF, in partnership with Trident Realty, launched 416 apartments in four towers in the Andheri West area of Mumbai. The companies will invest nearly ₹900 crore to develop this luxury housing project. The development will also include 845 dedicated car parking spaces, along with separate visitor parking facilities. The project will feature a 50,000-square-foot clubhouse equipped with many amenities, including a wellness hub, yoga studios, meditation decks, co-working spaces, lounges, and several other lifestyle facilities. The company had said that the development will comprise eight architecturally distinctive towers. The first phase will introduce four towers, each 37 storeys high and offering a total of 416 residences. Also Read: DLF's Mumbai debut: Adopts cautious project pricing aligning with Andheri West real estate market rates The homes include a select mix of spacious 3-and 4-BHK residences ranging from 1,125 to 2,500 sq ft, along with a limited number of penthouses.
Hans India
3 days ago
- Business
- Hans India
DLF-Trident Realty sells 416 flats in Mumbai for Rs 2,300cr
New Delhi: India's largest realty firm DLF Ltd and Trident Realty have sold all 416 flats for around Rs2,300 crore in a luxury residential project in Mumbai on high demand. In a regulatory filing on Friday, DLF said that the entire 416 units launched in the first phase of 'The Westpark' project has been sold for Rs2,300 crore in less than a week. DLF arm DLF Home Developers Ltd is developing this project at Andheri West in partnership with Trident Realty. 'Our entry into Mumbai represents a significant strategic milestone for DLF,' said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. 'Mumbai has always been a key component of our national growth strategy, and with the launch of The Westpark, we are proud to offer a development that resonates with the aspirations of the city's discerning residents,' he added. DLF and Trident Realty will invest around Rs900 crore to develop this luxury housing project at Andheri (West). The company launched the first phase of this 5-acre project in a price range of Rs42,000 per sq ft to Rs47,000 per sq ft. It sold flats in a range of Rs4 crore to Rs7.5 crore. In July 2023, DLF had announced its re-entry in Mumbai market by partnering with NCR-based builder Trident group. Then, DLF had said that the company would hold a 51 per cent stake in the special purpose vehicle (SPV) which will develop this project.
Mint
3 days ago
- Business
- Mint
DLF sells all 416 homes for over ₹2,300 crore in new Mumbai project Westpark
Bengaluru: DLF has sold out all apartments in a project in Mumbai for over ₹ 2,300 crore, marking a successful return to the real estate market in India's financial capital. DLF Home Developers Ltd, a subsidiary of DLF Ltd, India's most valued real estate company, said it sold all 416 units, including apartments and penthouses, in the first phase of The Westpark project in suburban Mumbai's Andheri (west) locality. The sale kicked off last week. Although DLF launched the project with two 37-storey towers initially, high demand prompted it to add two more towers. DLF is developing the project with New Delhi-based Trident Realty. The developer sold the entire inventory within a week at an average price of ₹ 42,500 per square foot. Non-resident Indians accounted for about 20% of the sales. Three of the five penthouses were sold for ₹ 35 crore each, at about ₹ 70,000 per sq. ft. 'Mumbai projects usually sell at a staggered pace. We are overwhelmed by the demand for our project and the sales,' Aakash Ohri, joint managing director and chief business officer of DLF Home Developers, told Mint in an interview. 'The Mumbai launch was important for DLF, and this gives us confidence to do more in the city.' The Westpark project marks DLF's return to Mumbai after exiting the property market there many years ago due to a sector slowdown. 'Mumbai is a key part of our national growth strategy. In Mumbai, customers liked the product offering including the amenities, followed by the brand value. Given the way we have entered the Mumbai market, we are here to stay,' Ohri added. The Mumbai project follows similar swift sales in Gurugram – DLF Privana West and Privana South, which collectively raked in ₹ 12,800 crore last year, and its super-luxury project The Dahlias, which clocked about ₹ 13,744 crore of sales bookings in FY25. The next big project from the DLF stable will be in Goa, in the current July-September quarter. The second phase of The Dahlias in Gurugram will be launched in the January-March quarter, Ohri said. DLF was the second highest-selling developer in FY25, after Godrej Properties Ltd. The company reported record sales bookings of ₹ 21,223 crore in FY25, up 44% from ₹ 14,778 crore the previous year. It has projected sales of ₹ 20,000-22,000 crore in FY26, banking on a pipeline that includes the next phase of The Dahlias, and the Mumbai and Goa launches. DLF has already achieved about half of its targeted sales for FY26 in the June-ended quarter. The company clocked ₹ 11,000 crore from bookings in Privana North, having sold the entire project inventory within a week of launch, it said in June.
Time of India
3 days ago
- Business
- Time of India
DLF sells phase-1 of Mumbai project, generates Rs 2,300 crore pre-sale
DLF Home Developers Ltd ., a 100% subsidiary of DLF Ltd ., India's largest listed real estate company, has added Rs 2,300 crore pre-sale in the ongoing quarter, followed by Rs 11,000 crore pre-sale from a single project in April-June quarter. The pre-sale in the ongoing quarter is dependent on company's entry to Mumbai market in partnership with Trident Realty. Explore courses from Top Institutes in Please select course: Select a Course Category Technology Others healthcare CXO Leadership Cybersecurity MCA PGDM Design Thinking Data Analytics Operations Management Data Science Finance others Management Degree Healthcare Public Policy MBA Project Management Digital Marketing Product Management Artificial Intelligence Data Science Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details In July 2023, DLF had bought a 51% stake in the SPV that will develop around 3.5 million sq ft in Andheri West, Mumbai. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo In the first phase, DLF will develop around 900,000 sq ft as it is a slum rehabilitation project and more land will be made available gradually. 'We had initially opened two of the four towers for sale but after getting the overwhelming response, we decided to sell the balance inventory as well. We managed to sell the entire phase in five days,' said Aakash Ohri, joint managing director and chief business officer at DLF Homes. Live Events The Westpark spans 5.18 acres and is part of a larger 10-acre master plan. The development will comprise eight towers, with the first phase introducing four towers, each rising 37 storeys and offering a total of 416 residences. The homes include a mix of spacious 3 and 4 BHK residences ranging from 1,125 to 2,500 sq. ft., (carpet), along with a limited number of exclusive penthouses. Approximately, 20% of the buyers are NRI. DLF reported $421 sales from NRIs last fiscal, rising from $408 million in FY24. New sales bookings of Rs 21,223 crore for FY25, surpassing its earlier guidance of Rs 17,000–18,000 crore. The company reported a net profit of Rs 1,268 crore in the March quarter, rising 37% from a year earlier. For the full fiscal year, DLF's consolidated net profit rose 59% to Rs 4,357 crore, while consolidated revenue grew to Rs 8,996 crore. The company had earlier outlined plans to launch 37 million sq ft of new projects from FY25 onwards, with a total sales potential of Rs 114,500 crore. Of this, 35% was launched last fiscal, while another 15% is scheduled for FY26. DLF's robust performance defied concerns of an industrywide sales downturn with developers reporting decline in property sales after a two-year bull run.
Mint
4 days ago
- Business
- Mint
DLF sells all 416 homes for over ₹2,300 crore in new Mumbai project Westpark
Bengaluru: DLF has sold out all apartments in a project in Mumbai for over ₹ 2,300 crore, marking a successful return to the real estate market in India's financial capital. DLF Home Developers Ltd, a subsidiary of DLF Ltd, India's most valued real estate company, said it sold all 416 units, including apartments and penthouses, in the first phase of The Westpark project in suburban Mumbai's Andheri (west) locality. The sale kicked off last week. Although DLF launched the project with two 37-storey towers initially, high demand prompted it to add two more towers. DLF is developing the project with New Delhi-based Trident Realty. The developer sold the entire inventory within a week at an average price of ₹ 42,500 per square foot. Non-resident Indians accounted for about 20% of the sales. Three of the five penthouses were sold for ₹ 35 crore each, at about ₹ 70,000 per sq. ft. 'Mumbai projects usually sell at a staggered pace. We are overwhelmed by the demand for our project and the sales,' Aakash Ohri, joint managing director and chief business officer of DLF Home Developers, told Mint in an interview. 'The Mumbai launch was important for DLF, and this gives us confidence to do more in the city.' The Westpark project marks DLF's return to Mumbai after exiting the property market there many years ago due to a sector slowdown. 'Mumbai is a key part of our national growth strategy. In Mumbai, customers liked the product offering including the amenities, followed by the brand value. Given the way we have entered the Mumbai market, we are here to stay,' Ohri added. The Mumbai project follows similar swift sales in Gurugram – DLF Privana West and Privana South, which collectively raked in ₹ 12,800 crore last year, and its super-luxury project The Dahlias, which clocked about ₹ 13,744 crore of sales bookings in FY25. The next big project from the DLF stable will be in Goa, in the current July-September quarter. The second phase of The Dahlias in Gurugram will be launched in the January-March quarter, Ohri said. DLF was the second highest-selling developer in FY25, after Godrej Properties Ltd. The company reported record sales bookings of ₹ 21,223 crore in FY25, up 44% from ₹ 14,778 crore the previous year. It has projected sales of ₹ 20,000-22,000 crore in FY26, banking on a pipeline that includes the next phase of The Dahlias, and the Mumbai and Goa launches. DLF has already achieved about half of its targeted sales for FY26 in the June-ended quarter. The company clocked ₹ 11,000 crore from bookings in Privana North, having sold the entire project inventory within a week of launch, it said in June. Mumbai recorded 75,672 property registrations in the six months ended 30 June, up 4% from 72,491 in the corresponding period last year, Anarock Property Consultants said, citing data from the Inspector General of Registration.
