Over the next three years, Mumbai-based Della Group intends to build 1,000 opulent homes and launch an initial public offering
By Bricksnwall | 2025-02-14
The Della Group intends to build opulent villas in
vacation spots like Pawna Lake, Igatpuri, Alibaug, which is close to Mumbai,
and Goa, among other places.
The Della Group, a Mumbai-based company that
specializes in luxury villas, adventure parks, and hospitality, intends to go
public by the end of 2025 or the beginning of 2026. According to Della Group
founder and chairman Jimmy Mistry, the company plans to build 1,000 luxury
housing units around India over the next three years, with a potential income
of ₹3,000 crore.
Further business expansion will be financed by the
IPO proceeds, including the construction of opulent villas in popular
second-home locations like Pawna Lake (close to Lonavala), Igatpuri (a hill
station near Nashik, Maharashtra), Alibaug (close to Mumbai), and the outskirts
of Nagpur, Udaipur, and Goa. Mistry told HT.com
Nowadays, the Della Group runs the Della Resorts
and DATA Resort next to Lonavala, which are both around an hour's drive from
Pune and Mumbai. Together, the two homes provide about 300 keys.
"We want to raise about ₹200 crore in the
pre-IPO phase. The IPO proceeds would be used to expand our business rather
than pay off our debt, which is less than ₹255 crore. We don't mind taking on
debt, but the funds will be used for branded homes, villas, and hospitality
enterprises," Mistry stated.
Jimmy Mistry established Della Group in 1991 with
an initial emphasis on pest management. In 1993, this business venture branched
out into interior contracting, and in 1995, it moved into modular office
furniture. The business opened a furniture production plant in Daman, a Union
Territory close to South Gujarat, in 1997. The Group entered the real estate
market in 2005, and with the opening of Della Resort close to Lonavala in 2009,
it entered the hospitality sector.
From branded vertical homes to opulent villas
Additionally, the company has teamed up with a
well-known Mumbai-based developer to build a township project outside of Pune,
Maharashtra. The project will have luxury villas, a racetrack, an adventure
park, and houses with vertical branding.
My business plan is straightforward: I want to create mixed-use development projects that resemble our Della resort in Lonavala, complete with resorts, conference spaces, dining options, and adventure activities. Through our joint venture with a well-known developer situated in Mumbai on the outskirts of Pune, we are also pursuing vertical development," Mistry continued.
receptive to investigating global marketplaces
The company claims that the Della Group is open to building resorts and opulent villas in foreign markets, with a penchant for mixed-use projects. However, joint ventures (JVs) or a development management (DM) strategy would be used to pursue this expansion.
Source: Hindustan Times
