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Time of India
2 days ago
- Business
- Time of India
Why DLF's return to Mumbai is more than just another project launch
DLF Limited is back in Mumbai after a decade. They have launched Westpark, a luxury housing project in Andheri. This ₹900-crore project has high-end apartments. DLF aims to sell these apartments amidst Mumbai's booming property market. The company is partnering with Trident Group for this venture. DLF is confident about the demand for luxury homes in Mumbai. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A strategic reset? Banking on Mumbai's real estate boom Tired of too many ads? Remove Ads Road ahead 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 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%.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 return now follows years of financial strengthening and a calibrated focus on high-margin luxury and super-luxury 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.'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% 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 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 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%.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 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 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 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.
Economic Times
2 days ago
- Business
- Economic Times
DLF to invest Rs 900 cr to build first housing project in Mumbai, aims Rs 2,300 cr revenue
DLF Ltd has re-entered the Mumbai market with a Rs 900 crore investment in a luxury housing project, 'Westpark', in Andheri (West). The 5.18-acre project, developed in partnership with Trident Group, offers 416 apartments priced between Rs 4 crore and Rs 7.5 crore, targeting a sales realization of Rs 2,300 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's largest realty firm DLF Ltd has re-entered the Mumbai market and will invest around Rs 900 crore to develop a luxury housing project at Andheri (West), a senior company official July 2023, DLF had announced its re-entry in the Mumbai market with plans to develop a luxury housing project in Mumbai in partnership with NCR-based builder Trident group "We have launched a luxury housing project 'Westpark' in Mumbai comprising 416 apartments," DLF Home Developers Joint Managing Director Aakash Ohri told said the company has launched this 5.18-acre project in a price range of Rs 42,000 per sq ft to Rs 47,000 per sq ft. It is selling flats in a range of Rs 4 crore to Rs 7.5 about the investment , Ohri said, "It will be around Rs 800-900 crore".The total sales realisation will be around Rs 2,300 crore, he said the initial demand has been very encouraging from customers."We plan to sell around 200 units," he said, adding that the company might sell the entire 416 units in case of high 2023, DLF had said that the company will hold a 51 per cent stake in the special purpose vehicle (SPV), which would develop this project. The remaining 49 per cent will be with Trident is a Slum Rehabilitation Authority (SRA) 2012, DLF had sold 17-acre land parcel in Mumbai to Lodha Developers for Rs 2,700 had also formed a joint venture with Akruti City to develop a few projects, but could not launch any the country's largest real estate firm in terms of market capitalisation, reported a record sales bookings of Rs 21,223 crore in the 2024-25 fiscal, an increase of 44 per cent from Rs 14,778 crore in the preceding financial MD Ashok Tyagi recently gave sales bookings guidance for the current fiscal at Rs 20,000-22,000 crore, almost in the same range as last financial month, the company launched and completely sold the 'DLF Privana North' housing project in Gurugram, comprising 1,164 will invest around Rs 5,500 crore to develop this 17.7-acre project, which has already been completely sold out for around Rs 11,000 the successful launch of the Gurugram project, DLF has already achieved 50 per cent of its annual sales bookings financial performance, DLF's net profit increased to Rs 4,366.82 crore during the 2024-25 fiscal from Rs 2,723.53 crore in the preceding income rose to Rs 8,995.89 crore in the last fiscal from Rs 6,958.34 crore in the 2023-24 financial its inception, DLF has developed more than 185 real estate projects and developed an area of more than 352 million square Group has 280 million square feet of development potential across the residential and commercial segments, including current projects under execution and the identified group has an annuity portfolio of over 45 million square is primarily engaged in the business of the development and sale of residential properties (the Development Business) and the development and leasing of commercial and retail properties (the Annuity Business). PTI
Time of India
08-07-2025
- Business
- Time of India
City industrialists hail MP CM's visit amid Pb's policy gaps, fading sheen
Ludhiana: The visit of Madhya Pradesh CM Mohan Yadav to the city Monday created a buzz in the industry, with leading business heads attending an interactive session with him on investment opportunities in the state. They also openly voiced their concerns about the challenges faced in Punjab on the occasion. Several prominent industrialists who have already invested in MP shared their success stories, while others expressed keen interest in exploring opportunities there, citing more favourable policies and incentives. The event turned out to be a gathering of Ludhiana's industry stalwarts — Rajinder Gupta, chairman of the Trident Group, along with the honchos of Vardhman Textiles, Ralson Tyres, Deepak Fasteners, Bhagwati and others. Many industrialists noted that MP had managed to secure over Rs. 15,000 crore in investment commitments from Ludhiana-based companies, thanks to its proactive outreach and ease of doing business. SC Ralhan, president of the Federation of Indian Export Organisations (FIEO), was candid in his critique of the situation in Punjab. "The policies in Punjab are not conducive to the setting up of industry anymore. Power tariffs are high, and sudden shutdowns are causing huge losses, especially with sensitive and expensive machines," he said. Highlighting the acute shortage of labour in the region, Ralhan said, "Over the past two years, labour availability has become a serious issue. The Punjab govt must set up residential clusters in industrial zones to retain workforce. Drawing a comparison with MP, he praised the MP govt for offering timely and useful incentives. "A clear shift is happening. Earlier, it was the big units that invested in MP. Now, even MSMEs will begin moving there due to the policies that the govt has brought in," he said. Sushil Mittal of Bhagwati Lacto Vegetarian, who has already invested in MP, said the state's administration has gone out of its way to support investors. "Every businessman looks at benefits, and MP is offering those benefits. There are more subsidies, less red tape, and a proactive approach. We've set up a food park there and now plan to start a biogas project as well," he added. KK Seth, chairman of the Federation of Industrial and Commercial Organisation (FICO), said the visit has generated strong interest within Ludhiana's iconic bicycle industry. "Eight bicycle companies are ready to go in together with an investment plan. The land prices are quite reasonable, and 25% of our investment is covered through subsidies. If the MP govt gives us a commitment of 10 lakh bicycles through their public distribution schemes, it becomes a viable project for us," he said. Gurmeet Singh Kular, president of FICO, said the interaction with Dr Mohan Yadav left a strong impression. "He appeared to be a very positive and practical CM. Land prices for Rs 800 per square yard, 40% capital subsidy, and six operational airports make investments there attractive," he said.
Indian Express
08-07-2025
- Automotive
- Indian Express
MP got Rs 15,606-crore investment proposals during session with Punjab industrialists: CM
Madhya Pradesh received investment proposals worth Rs 15,606 crore at an interactive session with industrialists in Ludhiana, Chief Minister Mohan Yadav on Monday announced during his day-long visit to the industrial hub of Punjab, also known as the 'Manchester of India'. 'Several notable investment proposals include Trident Group with Rs 5,000 crore and 6,000 jobs, Ralson Tyres Limited (Rs 2,200 crore and 2,000 jobs), Vardhman Industries (Rs 1,581 crore and 2,500 jobs), A B Cotspin Industry (Rs 1,300 crore and 1,500 jobs), and Nahar Group (Rs 1,100 crore and 1,000 jobs), among others… A total of Rs 15,606-crore investment will come, generating nearly 20,275 jobs,' Yadav said. The investment proposals came at a time when Punjab government is claiming of formulating ' ease at business ' in Punjab and days after the newly elected Ludhiana West MLA Sanjeev Arora was made the industry and commerce minister of Punjab. Interestingly, Punjab CM Bhagwant Mann and AAP's national convenor Arvind Kejriwal were also in Ludhiana on Monday when the Madhya Pradesh CM was meeting the industrialists in the same city. More than 400 delegates, including top honchos from varied industries, took part in the interactive session. Yadav held detailed one-to-one discussions with key industrialists from sectors like textile, steel, engineering, food processing and chemical, saying 'they were apprised of the government's policies with regard to the industry, and how they can expand their businesses'. The Madhya Pradesh government further organised a roadshow to attract investors from Punjab. Inviting them to invest in Madhya Pradesh, Yadav said: 'Our government offers several incentives for investors from Punjab… The policies are very attractive, and several investors have evinced keen interest.' Acknowledging the contribution of industrious entrepreneurs from Ludhiana — with brands like 'Avon' and 'Hero Cycles' gaining global recognition — Yadav noted: 'Punjab's industrialists are key flag bearers of India's economic prosperity… I have invited industrialists from across Punjab, including Ludhiana, to establish their units in Madhya Pradesh — considering our state's rich resources and investor-friendly policies. Trident and Vardhman, whose units are already operational in our state, have indicated further investment too.' Highlighting sufficient water supply, surplus electricity, a land bank of one lakh acres, and a good road network in his state, Yadav likened Madhya Pradesh to Punjab, calling them 'elder' and 'younger' brothers in grain production, and said: 'Both the states together would drive the national growth… I want you all to expand your work in Madhya Pradesh, while continuing to expand your businesses in Punjab.'
Time of India
07-07-2025
- Business
- Time of India
Madhya Pradesh gets investment proposals worth Rs 15,606 crore during interactive session with Punjab industrialists
Madhya Pradesh on Monday received investment proposals worth Rs 15,606 crore during an interactive session that Chief Minister Mohan Yadav held with industrialists. Yadav told reporters that his government offers several incentives for investors in the state. The MP government organised a roadshow here to attract investors from Punjab. Yadav said that Ludhiana, an industrial hub, is also known as the Manchester of India. More than 400 delegates, including top honchos from varied industries, participated in the interactive session. Live Events The chief minister also interacted with more than 15 industrialists in one-on-one discussions, saying they were apprised of the government's policies with regard to the industry and how they can expand their businesses. Sharing details about the investment proposals of 15 companies from Punjab, he said Trident Group has promised to invest Rs 5,000 crore, Ralson Tyres Rs 2,000 crore, the Vardhman Industries Rs 1,581 crore, AB Cotspin Group Rs 1,300 crore, Nahar Group Rs 1,100 crore, Deepak Fasteners, Rs 1,000 crore, among others. "A total of Rs 15,606 crore investment will come, generating over 20,000 jobs," he said. The discussions with delegates from textile, readymade garments, cycles, sports equipment, engineering, auto parts, machine tools were held. Inviting Punjab investors to invest in MP, the CM said, "Our policies are so attractive and investors have evinced keen interest". He said there was sufficient water supply, surplus electricity, adding that there was a land bank of one lakh acres and a good road network in MP. Yadav said that under the leadership of Prime Minister Narendra Modi the country is making fast progress. The country is moving towards becoming the third largest world economy, he said. Asked why the industry would leave Punjab to make investments in MP, he replied that they do not have to leave the state and they can expand their businesses.
