Another Mumbai-based developer, Lodha Developers, is set to enter the Gurugram residential market with plans to launch its first project by the end of the current financial year or the first quarter of the next financial year, company CEO and MD Abhishek Lodha said.
“Our approach in Delhi-NCR is the same pilot-and-scale model that we have successfully adopted in Bengaluru and Pune,” Lodha said during the company’s earnings call for Q4FY26 in April 2026.
According to him, construction is expected to begin in the next quarter, with the project likely to commence in the fourth quarter of the current financial year or early next financial year.
“We have not included the potential two launches in NCR in this launch guidance as we expect to start construction in the next quarter. And we expect to launch either in the fourth quarter of this fiscal year or early fiscal year 2028. We have been conservative in keeping this out,” Lodha had said during the company’s earnings call for Q4FY26 in April 2026.
“The team is now gradually building out (for Delhi NCR), and we expect to start operations in FY27. Here (Delhi NCR) our approach is the same pilot and scale model that we have used in Bengaluru and Pune. We entered Bengaluru on a pilot basis in FY23. Three years later, Bengaluru contributed in FY26. ₹24 billion pre-sales, more than 12% of our total. “We are confident that NCR will also follow a similar path,” Lodha said.
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NCR is India’s second largest housing market
According to Lodha, Delhi-NCR is India’s second largest housing market, and the company hopes to leverage its operational expertise and brand strength in the region, as it has successfully done in other markets.
Lodha said, “NCR is India’s second largest housing market. It has historically lacked large, credible developers who can set a new benchmark for quality and customer experience, barring, of course, DLF. We believe there is a huge and significant opportunity in NCR, if we can leverage our operational and brand capabilities in the same way as we have done in other markets.”
Lodha’s first project in Gurugram
In December 2025, Lodha Developers partnered with Gurugram-based MRG Group to make its debut in the Delhi-NCR market. The collaboration involves developing two major projects in key corridors of Gurugram with combined revenue potential of high ₹3,600 crores.
Lodha had said in October 2025 that the NCR strategy includes Gurugram and Noida or both. Lodha had said, “At this stage, our initial focus is most likely to be in Gurugram, but that does not mean that we will not look at any other part of NCR; it is quite likely that we will probably start with the Gurugram side of NCR.”
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Oberoi Realty’s first launch in Gurugram
Oberoi Realty officially announced its entry into the Delhi-NCR market on June 29 with the launch of Three Sixty North, its first ultra-luxury residential project in the region, involving an overall investment of approximately Rs 2,000 crore. ₹6,000 crores. Spread over 14.8 acres on Golf Course Extension Road in Sector 58, Gurugram, the development takes inspiration from the company’s flagship Three Sixty West project in Mumbai.
The project cost will be approximately ₹6,000 crore for both the phases. “The total revenue potential of this project including the two phases is ₹₹16,000 crore,” Oberoi Realty Chairman and Managing Director Vikas Oberoi told reporters on June 29.
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The total salable area will be approximately 4.5 million square feet. The company has launched the first phase at the original selling price ₹35,000 per square foot.
