Realty firm Dynamix Group targets 40 pc growth in sales bookings in FY24

Realty firm Dynamix Group's sales bookings rose 38 per cent to Rs 1,019 crore last fiscal and is aiming at more than 40 per cent growth during 2023-24 on a strong housing demand.

Mumbai-based Dynamix Group is a more than 5 decades old company. It has delivered over 30 million square feet of area so far.

At present, the group is developing seven housing projects, of which six are in the Mumbai Metropolitan Region (MMR) and one in Goa, comprising 3,650 apartments.

''We achieved strong sales bookings during the last fiscal at Rs 1,019 crore as against Rs 740 crore in the 2021-22 financial year,'' Dynamix Group Director Jay Goenka told PTI.

He said the housing demand continues to be strong.

''We are targeting to achieve sales bookings of Rs 1,400-1,500 crore during this fiscal year,'' Goenka said.

On the status of the ongoing projects, Goenka said it would be delivered over the next 2-3 years.

The total cost of these seven projects is Rs 3,000 crore, of which nearly Rs 1,000 crore has already been spent. The remaining cost will be met through internal accruals and construction finance.

Goenka said Dynamix Group plans to launch more housing projects during this fiscal to expand its business amid a rise in demand for residential properties.

Housing demand in the Mumbai Metropolitan Region has witnessed a strong revival post-Covid pandemic, with all major players achieving better sales during the last two financial years.

According to India Sotheby's International Realty and CRE Matrix report, sales of residential properties, priced above Rs 10 crore, in Mumbai's primary and resale market rose 49 per cent in value terms to Rs 11,400 crore during the January-June period.

During the year-ago period, the sales of luxury homes in Mumbai stood at Rs 7,660 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)