Whalesbook
Mumbai Entry Signals Strategic Shift
The group's Mumbai foray, its first outside Hyderabad, has secured two joint development projects in Vile Parle and Chembur. These projects offer an estimated 2.8 million sq ft development potential and are projected to yield a Gross Development Value (GDV) of approximately ₹11,500 crore. This Mumbai portfolio will largely focus on premium to luxury residential segments, aligning with the city's redevelopment dynamics.
Bengaluru and Chennai Expansion Underway
Beyond Mumbai, My Home Group has secured two large land parcels totaling 76 acres in East Bengaluru. These developments are envisioned as expansive mixed-use projects, including residential, commercial, and retail spaces, with an estimated GDV of around ₹23,000 crore and a development potential of nearly 15 million sq ft. The first Bengaluru launch is anticipated in the next financial year. In Chennai, the group has entered the Siruseri micro-market with a joint development project expected to generate ₹3,000 crore in GDV across 4 million sq ft.
Pan-India Pipeline and Funding Strategy
Collectively, these new markets form a significant part of the developer's ₹37,500 crore GDV pipeline, spanning a cumulative development potential of about 46.6 million sq ft. Executive Vice Chairman Ramu Rao Jupally stated this expansion is a natural progression to build large-scale developments across India's key real estate markets, transitioning from a city-led model to a diversified, pan-India platform. Approximately two-thirds of the ₹4,100 crore committed capital is for direct development, with the remainder through partnerships and joint development agreements. Managing Director Shyam Rao Jupally emphasized strengthening governance and delivery capabilities to support sustainable growth.
Future Growth and Capital Options
CEO Abhishek Kapoor projects that non-Hyderabad markets will contribute 40-50% of the group's presales over the next five years, significantly rebalancing its revenue mix. While Hyderabad remains the base, this strategic expansion aims to solidify My Home Group's evolution into a truly national real estate player. The company is evaluating various capital raise options, including an IPO or a platform-level fund raise, based on market conditions to fuel its next phase of institutional-scale growth.