Dynamix Group Records Sales Rs 756 Cr In FY 21-22

Mumbai based real estate player Dynamix group announced that it has recorded sales of Rs 756.4 crore across its diverse projects and joint ventures in FY 21-22 financial year on higher volumes driven by new launches, improved customer sentiments and enhanced affordability on account of cheaper home loans.

Its sales stood at Rs 330.6 crore in FY 20-21, the company said in a statement issued here today.

The company will launch 3 new projects in Mumbai in 2022 – at Sahar, Goregaon and Malad and the group will spend over Rs 1050 crore over the course of the development of these projects. The projects will be developed over the next 3-4 years and will be funded by a combination of equity, debt and subsequently sales receipts once the projects are launched.

In addition to this, the group will continue investing in maturing its land holdings to continue building its pipeline for launch and further sales for the subsequent financial years.

Jay Goenka, Director, Dynamix Group said “We are very excited about our sales growth in FY 21-22 and our upcoming project launches. We believe that our keen focus on building spaces that deliver functionality, convenience, and quality lifestyles will stand us in good stead to cater to today’s discerning customer. These planned launches continue to be the realization of our strategy to grow through the development of high quality, yet affordable homes and commercial spaces across Mumbai.”

He added that the funds required for initial approvals and land costs which are required to launch the three projects, will be funded through equity. The quantum and proportion of such equity in the overall capital structure of the project varies from project to project.