Shares of DLF Ltd traded flat on 17th July after touching a day’s high of Rs 856, following the company’s announcement of its return to the Mumbai Metropolitan Region market after more than a decade.

The company will launch its first project in Mumbai—The Westpark—located in Andheri West. The pricing is expected to range between Rs 37,270 and Rs 47,875 per square foot, with apartment sizes ranging from 1,126 to 1,511 sq. ft. Based on this, the cost of an apartment could fall between Rs 4.2 crore and Rs 7.2 crore.

Analysts expect a strong response due to the project’s aggressive pricing.

DLF had earlier acquired a 17-acre land parcel in Mumbai in 2005 for Rs 702 crore but sold it in 2012 for Rs 2,700 crore as part of a debt reduction strategy and a shift in focus to the NCR market. Since then, it hasn’t launched any projects in the city.

Mumbai’s real estate market has been heating up recently, driven by several slum rehabilitation and redevelopment projects. Developers like Keystone Realtors, Mahindra Lifespaces, and Puravankara have also secured projects in this segment.

At 1:06 PM, the shares of DLF Ltd are trading 0.24% higher at Rs 846.30 on NSE.

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