Another Mumbai-based developer, Lodha Developers, is set to enter the Gurugram residential market, with plans to launch its first project either by the end of the current financial year or in the first quarter of the next fiscal, said Abhishek Lodha, the company's CEO and MD.
"Our approach in Delhi-NCR is the same pilot-and-scale model that we 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 next quarter, with the project likely to launch in the fourth quarter of the current fiscal year or early in the next financial year.
"We have not included the potential two launches in NCR in this launch guidance because we expect to start construction in the next quarter. And we expect to launch either in Q4 of this fiscal or early in fiscal 2028. We have just been conservative in keeping that out," Lodha had said during the company's earnings call for Q4FY26 in April 2026.
"The team is now slowly and gradually building out (for Delhi NCR), and we expect to start operations in fiscal 27. Our approach here (Delhi NCR) is the same pilot and scale model we have used in Bengaluru and Pune. We entered Bengaluru in FY 23 on a pilot basis. Three years later, Bengaluru in FY 26 contributed about ₹24 billion in presales, about over 12% of our total. We have confidence that NCR will follow a similar trajectory," Lodha said.
{{/usCountry}}"The team is now slowly and gradually building out (for Delhi NCR), and we expect to start operations in fiscal 27. Our approach here (Delhi NCR) is the same pilot and scale model we have used in Bengaluru and Pune. We entered Bengaluru in FY 23 on a pilot basis. Three years later, Bengaluru in FY 26 contributed about ₹24 billion in presales, about over 12% of our total. We have confidence that NCR will follow a similar trajectory," Lodha said.
{{/usCountry}}NCR is India's second-largest housing market
According to Lodha, Delhi-NCR is India's second-largest housing market, and the company expects to leverage its operational expertise and brand strength in the region, just as it has successfully done in other markets.
"NCR is India's second-largest housing market. It has historically lacked the kind of large trusted developers that can set a new benchmark for quality and customer experience, excluding, of course, DLF. We think, therefore, that there is a large and significant opportunity in the NCR, if we can pull off our operational and brand capabilities in the same way that we have done in other markets," Lodha said.
Lodha's first project in Gurugram
In December 2025, Lodha Developers partnered with Gurugram-based MRG Group to mark its debut in the Delhi-NCR market. The collaboration involves developing two marquee projects in prime corridors of Gurugram, with a combined revenue potential exceeding ₹3,600 crore.
Lodha had said in October 2025 that the NCR strategy includes Gurugram and Noida, or both. "At this stage, our initial focus is most likely to be in Gurugram, but it does not mean that we do not look at any other part of the NCR; it's quite likely that we will perhaps start off on the Gurugram side of the NCR," Lodha had said.
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, entailing a total investment of around ₹6,000 crore. Spread across 14.8 acres on Golf Course Extension Road in Sector 58, Gurugram, the development draws inspiration from the company's flagship Three Sixty West project in Mumbai.
The project cost would be around ₹6,000 crore for both phases. "The total revenue potential of this project, including the two phases, is ₹16,000 crore," Vikas Oberoi, chairman and managing director, Oberoi Realty, told reporters on June 29.
The total saleable area would be nearly 4.5 million sq ft. The company has launched the first phase at a basic selling price of ₹35,000 per sq ft.