Mumbai is part of DLF’s ‘medium- and long-term strategy’, but the company will be ‘very, very selective’ in taking up projects, said Ashok Tyagi, MD, DLF Ltd

DLF’s first Mumbai project was intended as a ‘dipping toes into the water’ exercise, but the company is now more confident about its prospects in the city and is on track to launch a follow-up ‘definitely within this fiscal year, possibly even within the calendar year,' said Ashok Tyagi, MD, DLF Limited.

Tyagi said Mumbai real estate market remains part of DLF’s medium- and long-term growth strategy, but the company will be ‘very, very selective’ in taking up projects in the city where it believes it can add value.

“We should be hopefully coming up with a follow-through of that launch definitely within this fiscal year, possibly even within the calendar year. I think that is on track. Overall, the way the stars are aligning around that development, we believe it has the potential to be more than a 5 million square feet development over the next few years. That will be a sizable development in itself,” he said at the company’s recent investors’ call.

As for other projects in the financial capital, Tyagi said, “we are alive to other possibilities in Mumbai. We have looked at some, we are exploring some as we speak, and if there’s something interesting that does come up, we’ll obviously report it. This project was supposed to be a dipping toes into water project for us,” he added.

He said that the company does feel “enthused and more confident about being able to work out in Mumbai, but we’ll be obviously very, very selective in terms of taking projects where we believe we can truly add value. In that sense, Mumbai continues to be a part of our medium and long-term strategy.”

The developer had previously entered Mumbai in 2005 by acquiring 17 acres of prime mill land in Lower Parel at a National Textile Corporation auction for ₹704 crore, then the highest bid. Following the 2008 global financial crisis, DLF revised its strategy and sold the land to Lodha Developers for ₹2,700 crore in 2012.

DLF launched four towers spanning around 9 lakh sq ft under Phase 1 of its Mumbai project, The Westpark, in Andheri West on July 17, 2025. The entire inventory was sold out within days, generating sales bookings worth ₹2,300 crore.Spread across 10 acres, The Westpark will comprise a mix of 3 BHK and larger apartments, with unit sizes ranging from 1,125 sq ft to 2,500 sq ft, according to the company.

Mumbai is 'serious business' for DLF; luxury and ultra-luxury expansion on the cards

Calling the country's financial capital a 'serious business' for the company, Ohri said that further announcements will be made as its plans take shape.