DLF Limited’s Managing Director, Ashok Tyagi, indicated plans for long-term investments in Mumbai. He noted its status as India’s largest real estate market. The Delhi-NCR-based developer DLF expressed satisfaction with its Mumbai entry.
This success fuels confidence for future projects in India’s financial hub. Tyagi expects approvals for 1-2 million sq ft in the next year. He also aims for roughly 1 million sq ft additions every 15 months afterward. Tyagi stated DLF is open to a second Mumbai project. He highlighted their first Mumbai venture, Phase 1, has performed very well. This boosts their confidence significantly. He anticipates even greater Mumbai confidence within 12-18 months. An old Mumbai dispute has also been settled. Tyagi believes Mumbai’s geography will grow. He asks for a bit of patience.
Tyagi sees Mumbai as their only potential growth location outside NCR and Chandigarh. This is their first controlled entry into Mumbai. Success here could lead to more growth opportunities. The company’s debut Mumbai project, The WestPark, saw 20% NRI buyers. Bollywood stars also made bookings. DLF sold all four Phase 1 towers. This generated ₹2,300 crore in sales.