Dynamix Group to Invest Rs 350 Cr in Residential Projects
Dynamix Group plans to invest close to Rs 350 crore in the next fiscal. The Mumbai-based real estate developer also plans to launch two to three new projects in Goregaon, Malad and Kandivali, subject to receiving approvals from the authorities. The company has previously developed and delivered over 3 crore sq ft of residential projects across Mumbai, Thane and Goa. The company has four ongoing projects for which it intends spending close to Rs 100 crore to Rs 125 crore in the last quarter of FY2021. For the next fiscal, it is planning to launch two or three projects, depending on approvals and expects to spend close to Rs 350 crore on these new projects and ongoing projects. This year the company plans to deliver around 75 units in its Aldeia De Goa project in Goa, which is spread across 143 acres. It has launched close to 1100 units between last and this fiscal, which are currently under construction, and would be ready for possession by FY 2023-2024. The Goa project is a mix of plots, villas and apartments. The real estate company has so far delivered 250 apartments in the entire layout along with numerous plots and villas. The company has been witnessing a year-on-year consistent growth since 2011 and was targeting to reach a sales value of Rs. 700 to Rs. 900 crore in FY2021, but the prevailing situation of COVID-19 postponed the company's plans. Despite the pandemic, it managed to launch a project in Dahisar with units in the price range of Rs 60 lakh to Rs 1.2 crore. The company has so far invested Rs 105 crores in this project, he said.
Tags : News/Views Residential Projects invest Dynamix Group Rs 350 Cr