Early this year, Mumbai-based Dosti Realty (DRL) announced plans to launch an Initial Public Offering (IPO) in the next 12 to 24 months, as well as a strategic expansion into the Thane and Bhiwandi storage and logistics sectors. Discussions with bankers are presently underway, and the funds raised through the IPO will be used to fund the company’s expansion objectives and debt repayment strategy. The corporation is unsure how much it will raise, but they are still considering the possibilities.
Dosti Realty, recognised for its prominent presence in the Mumbai real estate market, will expand into Pune in the first half of 2023. The organisation is now looking at major social rehabilitation projects in the Mumbai Metropolitan Region (MMR), as well as possible investments in Gujarat.
Dosti Realty’s enormous land bank in MMR has the potential to accommodate up to 25 million square feet of building. Since its inception in 1980, the company has successfully produced 12 million square feet, with another seven million square feet currently under construction.
Dosti Realty expanded Dosti Greater Thane with new towers in May. Dosti Greater Thane, a blend of smart design and affordability, will open in 2020, demonstrating Dosti Realty’s dedication to meeting the discerning demands and aspirations of prospective homebuyers. The project offers a variety of lodging options, including one-bedroom units ranging from 319 to 385 square feet and two-bedroom units ranging from 452 to 552 square feet. It is entering the housing society renovation market with plans to invest more than Rs 1,000 crore.
Source: Construction Week
