Dynamix Group plans to launch four real-estate projects in Mumbai, Goa; sees revenue potential of Rs 3,500 crore

Mumbai real estate update: Out of the total upcoming pipeline, 90-95 percent launch will be in the residential segment, said the company.

Mumbai-based Dynamix Group plans to invest Rs 2,100 crore and launch 2.4 million sq ft of saleable area in the Mumbai real estate market, with a revenue potential of Rs 3,500 crore. There will be four project launches, of which three will be in the Mumbai Metropolitan Region (MMR) and one in Goa, Jay Goenka, Director of Dynamix Group, told Moneycontrol on October 17.

The company plans to launch the four projects in the next financial year and deliver them before 2029. Around 90-95 percent will be in the residential segment. Currently, the company has 4.4 million sq ft under construction. It plans to start delivery from next month and complete the projects in the next four years.

Investment source

"Our total investment in the four upcoming projects will be Rs 2,100 crore, which will be funded through equity, working capital and customer advances. For the ongoing projects, we have spent Rs 1,200 crore already and will incur a further Rs 1,700 crore over the next 4 years.," said Goenka.

Micro markets

"Of the four projects, two are going to be slum rehabilitation projects in Malad and Kandivali. The third will be in Mira Road of Thane district and one in Goa. They will have 2.4 million sq ft of saleable area and a revenue potential of Rs 3,500 crore. In the seven ongoing projects, two projects are slum rehabilitation projects. The seven are situated in Andheri (1 project), Malad-Goregaon (2 projects), Dahisar (1 project), Mira Road (1 project), Thane (1 project) and Goa (1 project)," Goenka added.

Also read: Mumbai-based real estate developer Dynamix Group to invest Rs 350 crore on residential projects

Land holdings

The company said it has a land bank across the western suburbs of Mumbai and in Thane. The land bank is predominately in Malad, Goregaon, Kandivali and Borivali. "The group plans to continue working on and developing its own land assets and will explore acquisitions only if they are strategically value accretive. We also have a joint venture with Godrej Properties that was announced in 2020," Goenka added.