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Hiranandani Communities, Krisala Developers, and Della Resorts and Adventure have partnered to develop a racecourse-themed township near Pune, with a budget of INR 550 crore. This 40-acre development will have a revenue potential of INR 1,100 crore. Della's Chairman, Jimmy Mistry, mentioned that this type of themed project increases builder receivables by 40%. The project will include a resort, conference and wedding venues, villas, and an 8-acre racecourse. Della aims to launch 10 such themed townships by FY26, targeting a revenue potential of INR 20,000 crore.
A partnership to build a racecourse-themed township near Pune with an INR 550 crore investment was announced earlier this week by Hiranandani Communities, Krisala Developers, and Della Resorts and Adventure. Spanning 40 acres, the township is projected to generate a revenue potential of INR 1,100 crore. Della's chairman, Jimmy Mistry, highlighted that such themed developments can boost receivables for builders by up to 40%. Advertisement
Della, which has been planning a listing for over a year, is also looking to sign agreements for 10 additional themed townships by the end of FY26. These developments, centred around themes such as adventure and racecourses, are expected to generate a total revenue of INR 20,000 crore.
The project, strategically located near the IT hub of Hinjewadi in Pune, will feature a 300-room resort, corporate conference and wedding venues, villas, and an 8-acre racecourse. The 40-acre plot is part of a larger 105-acre township being developed by Hiranandani and Krisala, which has a revenue potential of INR 7,000 crore. This mega township will offer 10,000 residential units, along with essential facilities like schools, hospitals, and colleges.
Mistry explained that Della retains 15% of the revenue bookings from its developments and earns 6% of the hospitality services revenue over time. In certain projects, Della also holds sweat equity for the design, marketing, and operational aspects.
Della has already launched an adventure-themed resort near Lonavala and is expanding into cities like Chennai, Nagpur, and Goa. Additionally, they are preparing to launch similar themed townships in Navi Mumbai, Igatpuri, and Indore, among other locations.
The Navi Mumbai project will focus on a Formula 1 theme, featuring a 5.2-kilometre race track, hotels, hangars, and other amenities across 275 acres. Mistry revealed that he is in discussions with a UK-based entity for a partnership in this venture. The F1 facility will be dedicated to autonomous vehicles and will primarily serve as a venue for car shoots rather than live races.
The expansion of adventure and racecourse-themed facilities reflects Della's strategic move towards high-revenue, niche projects. Their innovative approach, including a Formula 1-themed development in Navi Mumbai, underscores their ambition to lead the market in unique, experience-driven real estate ventures.
Source - PTI
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