Bombay Dying has a landbank of 64 acres across the two sites in Dadar and Worli, premium locations in Mumbai, which, according to management, carry at least 7msf (saleable) potential (based on current rules). Thus far, BD has developed roughly a total of 0.9msf
(equally between two sites).
So far, BD has developed a residential tower of about 0.43 msf (largely sold out, 18 apts left), which should be ready for handover in three months. The project was launched in September 2006 at BSP of about Rs10.5k psf, which peaked at 25k psf and is presently quoting at 18.5k psf. The company is planning another two residential blocks (0.45 msf each) at this location, with the first tower likely to be open for booking by March 2010.
Worli Project update: Company is developing a 0.44-msf commercial block, which is expected to be completed by the end of this year. It has sold four of seven floors at BSP of Rs.15k psf. Given weak commercial demand (enquiries picking up, though transactions remain low) and upcoming supply in this micro market, the company is not planning further launch at this site.