Hiranandani, Krisala, and Della Collaborate on Rs 550 Crore Racecourse-Themed Township Near Pune

Hiranandani Communities, Krisala Developers, and Della Resorts and Adventure have announced a collaboration to develop a racecourse-themed township near Pune. This project, valued at Rs 550 crore, will span 40 acres and is expected to generate Rs 1,100 crore in revenue. According to Della's chairman, Jimmy Mistry, the themed development increases the builders' receivables by 40%.

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Revenue Potential and Future Plans

Della aims to establish 10 such themed townships by the end of FY26. These projects will revolve around various themes like adventure and racecourses, with an anticipated revenue potential of Rs 20,000 crore. The company is also planning a public listing within the next year.

The township near Pune's IT hub, Hinjewadi, 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. This broader project has a revenue potential of Rs 7,000 crore and will include 10,000 residential units along with schools, hospitals, and colleges.

Business Model and Expansion

Mistry explained that his company retains 15% of the revenue bookings and will earn 6% from hospitality services over time. In some ventures, he also holds sweat equity for the conception, design, marketing, and operations of the facility. Della has already partnered to bring similar facilities to Chennai, Nagpur, and Goa.

Plans are underway for themed townships in Navi Mumbai, Igatpuri, Indore, among others. The Navi Mumbai project will focus on a Formula One theme with a 5.2-km race track. It will include hotels and hangars over 275 acres. Mistry mentioned discussions with a UK-based partner for this venture.

The Formula One facility in Navi Mumbai will cater to autonomous vehicles and serve as a venue for car shoots rather than races. This approach aligns with Della's strategy to innovate in themed developments while expanding its footprint across India.

With inputs from PTI