The sibling power transforming real estate with vision and innovation

Shraddha Goradia and Anuj Goradia, Directors of Dosti Realty

Q. Can you tell us about your roles at Dosti Realty and your visions for the company's future?

As directors at Dosti Realty, our vision is about innovation, sustainability, and customer-centricity. We aim to lead the real estate industry by integrating cutting-edge technologies and sustainable practices. Transparency and ethics are paramount for building trust, and we envision vibrant, community-focused developments. Our expansion plans include entering new market segments and locations to adapt to changing demands. Additionally, we are committed to environmental sustainability, reducing our carbon footprint for a greener, sustainable future. Besides our existing portfolio in Sion, Wadala, Thane, Shil Thane and Pune, we have multiple cluster redevelopment projects 33(7), slum rehabilitation projects 33(10) and society redevelopment projects 33(7) B/33(11) in the pipeline. We have recently forayed into society redevelopment with the attractive 33(11) scheme and will be executing luxury projects in Thane city. At the same time we are exploring a range of opportunities across the island city be it in Greenfield land parcels or Society Redevelopment or projects by other developers that require completion assistance at premium locations.

Q. What sets Dosti Realty apart in the real estate industry, and what strategies do you have to maintain your competitive edge?

Dosti Realty has a rich legacy of trust and reputation since the 1970s. Our commitment to innovation, sustainable practices, and transparency maintains our competitive edge. We create vibrant communities where residents thrive. To stay competitive, we prioritise innovation, customer-centricity, market research, strategic partnerships, and diversification into new segments, securing our position as a pioneering and trusted real estate developer.

Dosti 1 Mumbai (Artist's Impression)

Q. As young entrepreneurs in the real estate industry, how are you both planning to take the company's vision forward?

As young entrepreneurs in real estate, we've brought fresh perspectives and technological innovation to Dosti Realty. Our focus on technology upgrades enhances efficiency and keeps us competitive. We prioritise understanding and addressing our client's unique needs, fostering trust within the real estate community. Our vision is anchored in transparency, innovation and community building, ensuring Dosti Realty maintains its legacy while pushing the boundaries of the real estate industry and becoming a trusted and reliable brand. The company has been rapidly expanding along with that implementing major shifts in technology across all spectrums be it in technology upgradation, sales, construction, marketing and customer centricity. As on date, Dosti Realty is selling about 2 mn – 2.5 mn sq. ft. a year with about 2000 homes being sold every year. The vision is to achieve a 15 % y-o-y growth as well as increase our presence in the Mumbai Metropolitan Region as well as Pune.

Q. Could you share insights into your expansion plans and any upcoming projects you're excited about?

Dosti Realty's expansion focus is on remaining committed to growth in Mumbai. Our vision extends beyond the city, targeting strategic locations. Our upcoming projects across Mumbai and Thane showcase our geographical diversification, and our entry into Pune represents the future of Dosti Realty. We're excited about luxury projects in Mumbai and Thane, cluster redevelopments, slum rehabilitation, and society redevelopment initiatives. Our dynamic expansion strategy keeps us at the forefront of the real estate industry, catering to diverse customer needs. Our future prospects include projects that will be coming up at Marine Lines, Lower Parel, Byculla, Dadar, Wadala, Borivali, Dahisar & Thane.

Q. With the evolving real estate market, how do you see Dosti Realty adapting to new trends and technologies?

Dosti Realty's response to the dynamic real estate market involves a multifaceted approach. We prioritise innovation, integrating cutting-edge technologies and sustainable practices to enhance efficiency and reduce environmental impact. Our customer-centric approach ensures projects align with evolving market trends and preferences, fostering strong client relationships. These strategies keep us at the forefront of emerging trends and technologies in the real estate industry.

Q. What values or principles from Mr. Deepak Goradia have influenced your leadership style at Dosti Realty?

Mr. Deepak Goradia, the Chairman and Managing Director of Dosti Realty, has profoundly influenced our leadership style. His principles of ethics, transparency, innovation, design, and the importance of building lasting relationships with both customers as well as all stakeholders have left an indelible mark on how we operate at Dosti Realty. Real estate has been the game of patience and foresight and it is this ability of Mr Goradia that has brought the brand where it is today. Whether it was transforming the Antop Hill skyline with Dosti Acres – Wadada or creating Shil Thane first planned development with Dosti Planet North or even most recently unlocking the potential of Balkum Thane (W) with the massive development of Dosti West County, each of these game changers was a mix of keen business acumen, visionary ideas, strategic thinking and exemplary leadership. All this has played a pivotal role the brand Dosti Realty has transformed and we hope to take these same guiding principles to the next level.

Q. How is Dosti Realty embracing new technology and innovation in real estate?

There are several technology advancements happening in real estate in all its areas, starting from architectural technology, design, BIM (Building Information Modelling) estimation, 3D printing to Marketing & Sales like VR / AR driven virtual tours, AI driven property marketing, drone footage for Sales, formwork technology is undergoing a change year on year, smart metering systems for power and water, new eco-friendly, and reusable materials in construction as well as safety and security features. These are just to name a few tech advancements. We are also adopting eco-friendly construction materials, smart metering systems, and advanced safety measures, staying at the forefront of innovation in the industry. We have been keen embracing technology at every level to help streamline processes as well for all stakeholders be it employees, channel partner or customers. Be it implementing SFDC or recently launching the Dosti Blue Circle OTP app for our Channel partners or tying up with Relata to create an end to end customer journey experience in a seamless way, Dosti Realty is continuously evolving.

Q. What are the expansion plans for the next five years in terms of total square feet that Dosti Realty aims to achieve?

Dosti Realty is expanding in the Mumbai Metropolitan Region and entering the Pune real estate market. Currently, we're working on projects totalling over 21 mn.sq.ft. across Mumbai, Thane, and Pune. Our future expansion plans include launching additional projects in Pune and building on our strong presence in the regions in which we operate. The vision is to achieve a 15 % y-o-y growth which roughly translates to achieving a 32-34 mn.sq.ft. portfolio in the next 5 years.

Q. Please tell us the objective behind foraying into the Pune Market. What projects are currently underway or planned for Pune?

Dosti Realty's expansion into the Pune real estate market aims to diversify its geographical presence and reach a broader customer base. The ongoing project, Dosti Greenspaces in Hadapsar, Pune, encompasses approximately 5.42 lakh square feet of RERA carpet area in its initial phase. Phase 2 will feature a mix of commercial and residential units spanning around 5.08 lakh square feet of RERA carpet area. These projects offer a range of apartment sizes, from approx. 479 sq.ft. (44.51 sq.mtr.) to 1,395 sq.ft. (291.61 sq.mtr), catering to diverse customer requirements. The bylaws of Pune and Thane are similar so it was relatively easier to carry out operations and in a sense a natural evolution in our expansion strategy.

Q. From Wadala township to Dosti 1 Mumbai, how has the journey been as a township and lifestyle creator in the real estate space?

We started with a vision to build homes and create vibrant, holistic communities. Over the years, we've honed our expertise, incorporating cutting-edge technology, innovative design, and sustainable practices. Today, Dosti Realty is synonymous with exceptional lifestyles and community-centric developments. The key foray of Dosti Realty is to unlock the developmental potential of seemingly lesser known micro-markets and making it a happening destination by transforming its skyline.  

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