In a detailed conversation, Jay Goenka, Executive Director of Dynamix Group sheds light on the company’s strategic approach and outlook in the real estate sector. With a strong presence in Mumbai's competitive market, Dynamix Group continues to focus on sustainable practices, careful market selection, and thoughtful project execution. Over the next three years, the company aims to accelerate project launches and maintain its commitment to quality, timely delivery, and customer satisfaction.
Dynamix Group has a strong presence in the real estate sector in Mumbai. Can you elaborate on how you expect the year will pave for the company in terms of investments?
We expect this year to be one which is marked by several important project completions, which will see some of our investments maturing. Simultaneously, we continue to build our ongoing projects at a quick pace, which requires large expenditure on construction. This will by funded through a combination of equity, debt and customer advances. We are also in the process of bringing another four projects to the market across the Mumbai Metropolitan Region (MMR), all of which require investments in approvals, design and construction.
As a group, we have also made and shall continue to make sizeable investments in building our operational backbone, with technologies such as Salesforce.com (for Sales and CRM) and SAP having been implemented last year and are maturing in this one.
Can you shed some light on the specific projects Dynamix Group is currently working on in Mumbai?
We have six ongoing projects in the MMR and one in Goa. Our MMR portfolio includes a project called Parkwoods in Thane (2-bed homes across two towers), Avanya in Dahisar East (1 and 2-bed homes across four towers), Divum in Goregaon-Malad East (2-bed homes in one tower), Astrum in Malad East (2 and 3-bed homes in one tower) and Luma in Andheri East (2 and 3-bed homes across three towers). We also have a project called Srishti in Mira Road, which is being developed jointly with Kalpataru. This project comprises 1, 2 and 3-bed homes across 11 towers. In addition to these, we are working on launching one project in Thane, one in Kandivali, and two in Malad over the course of this financial year.
Sustainability is a hot topic in the industry right now. How is Dynamix Group integrating sustainable practices into its projects?
All our under-construction projects are pre-certified as green buildings by the Indian Green Building Council (IGBC) where we target a minimum rating of Gold. In addition to this, we do our best to imbibe sustainable practices in the design and construction of our projects. Some examples include treating wastewater from the building and using this for landscaping and flushing, so as to reduce the water consumption of the building and providing solar powered hot water systems (to the greatest extent possible) to certain bathrooms in a flat to reduce its electricity consumption. We also have a bias towards sourcing material for our buildings from the immediate vicinity, to reduce the carbon footprint associated with long-distance transport and using materials such as GGBS cement (which is cement made from a waste product from steel production in a blast furnace) to the extent they are permitted by our building code. We can do more, and we hope to do so.
The real estate market in Mumbai is highly competitive. What strategies does Dynamix Group employ to stay ahead of the competition?
We choose our markets with a lot of care. We do not want to be in markets that we do not understand and have no experience or limited brand recognition in. In addition to this, we spend a lot of time designing our projects so as to ensure that our buildings can be built quickly, to a very high quality and within budget. And of course, we try to be extremely thoughtful and diligent in our planning such that the homes and projects we build will fundamentally enhance the lives of their occupants. If ever we stumble in this endeavour, we make a sincere effort to learn from our mistakes and be better next time. We don’t want to be the builder of the tallest building or the most ambitious project or the project with the longest list of (sometimes truly unnecessary) amenities. We want to be known for building well, building on time, and building thoughtfully. We believe that if we stay true to these principles, our customers will continue to place their faith in us.
What are your plans for Dynamix Group in the next three years?
We hope to continue launching projects at a fast clip, with 2-3 launches every financial year, which should be coupled with an equivalent (or more) number of deliveries. We intend to remain focused on markets we understand (i.e. the Western Suburbs of Mumbai) and continue to build projects which occupy the vast ‘middle’ of the price range prevalent in the MMR.
