DLF Targets March Q2FY25 for Launch of First Phase in Andheri West, Mumbai

DLF is set to launch its first project in Mumbai in nearly a decade, expected by March FY25. Located in Andheri, the project, a partnership with the Trident Group, is a Slum Rehabilitation Authority (SRA) initiative that blends social responsibility with luxury residential offerings.

The project is generating anticipation due to its combination of community-oriented and high-end residential components. While providing upgraded housing for slum residents, it will also offer upscale residential apartments targeted at affluent buyers. 

The development’s initial phase will feature high-end 3 BHK and 3 BHK+ apartments, with prices ranging from around ₹5.5 crore to ₹7.5 crore. Approximately one million square feet of residential area will be developed in this first phase, meeting Mumbai’s growing demand for exclusive, centrally located housing. With convenient access to major business districts, hospitals, schools, and leisure facilities, the project is designed for buyers seeking luxury and exclusivity in Mumbai’s urban core area. 

DLF has worked extensively to secure necessary approvals for the project, which is in the advanced stages, as confirmed by Managing Director and CFO Ashok Kumar Tyagi during the Q2FY25 earnings call. Real estate development in Mumbai involves a complex approval process, with a project of this scale requiring multiple permissions across various regulatory bodies. However, DLF’s proactive approach has placed them in a favorable position to avoid delays. Mr. Tyagi also acknowledged that while the upcoming Maharashtra state elections in November might introduce temporary slowdowns, the approvals DLF requires are routine, limiting potential impacts from any political changes.

Mr Tyagi further discussed DLF’s efforts to secure approvals for projects in other regions, including the next phase of Privana in Gurgaon and a new development in Goa. Although non-Gurgaon approvals often come with unique challenges, DLF is confident that the Mumbai project will meet its Q4 launch timeline. This confidence highlights DLF’s adeptness at navigating regional approval systems and reflects its preparedness to handle regulatory complexities.

DLF has invested approximately ₹400 crore in the Mumbai project, which is expected to include a total saleable area of around 3 to 3.5 million square feet for both residential and rehabilitation components. For DLF, this project not only represents a geographic expansion but also strategically positions the company in one of India’s most competitive real estate markets. Partnering with the Trident Group, known for its work in the SRA space, DLF combines its expertise in luxury residential developments with Trident’s local insights, making this project a notable venture in mixed-purpose urban development.

On the financial front, DLF’s recent Q2FY25 results demonstrate robust growth, with the company reporting a consolidated net profit of ₹1,381 crore for the July-September quarter. The total income for Q2FY25 reached ₹2,181 crore, a 48% increase from ₹1,476.42 crore in Q2FY24. For the first half of FY25, DLF reported a total income of ₹3,910.65 crore, up from ₹2,998.13 crore over the same period in the previous fiscal year. 

The project in Mumbai, along with new ventures in Gurgaon and Goa, aligns well with DLF’s growth strategy, positioning the company to capitalize on opportunities across high-potential markets and reinforcing its leadership in luxury residential developments.

Image source- dlfandheriwestmumbai.com