by THO
Mumbai-based Della Group, which specializes in hospitality, luxury villas, and adventure parks, plans to launch an Initial Public Offering (IPO) by the end of 2025 or early 2026. The company intends to develop 1,000 luxury housing units across India over the next three years, with a projected revenue potential of ₹3,000 crore, according to Jimmy Mistry, founder and chairman of Della Group.
The funds raised from the IPO will be used for further business expansion, including the development of luxury villas in prime second-home destinations such as Pawna Lake (near Lonavala), Igatpuri (a hill station near Nashik, Maharashtra), Alibaug (near Mumbai), the outskirts of Nagpur, Udaipur, and Goa, Mistry told HT.com
Currently, Della Group operates Della Resorts and DATA Resort near Lonavala, both of which are approximately an hour’s drive from Mumbai and Pune. The two properties collectively offer around 300 keys.
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“We are looking to raise around ₹200 crore in the pre-IPO stage, and later, the money raised via IPO will go towards business expansion and not for servicing our debt, which is less than ₹255 crore. We are comfortable when it comes to debt; however, the money will go into hospitality businesses, villas, and branded residences,” Mistry said.
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Della Group was founded in 1991 by Jimmy Mistry, initially focusing on pest control. This entrepreneurial journey expanded into interior contracting in 1993 and modular office furniture in 1995. In 1997, the company established a furniture manufacturing facility in Daman, a Union Territory near South Gujarat. The Group ventured into real estate in 2005, and in 2009, it expanded into the hospitality industry with the opening of Della Resort near Lonavala.
From luxury villas to branded vertical residences
The company has also partnered with a prominent developer based in Mumbai to develop a township project on the outskirts of Pune, Maharashtra. The project will include vertically branded residences, an adventure park, a race course, and luxury villas.
“My business model is simple; I want to come up with mixed-use development projects with resorts, banquets, restaurants, and adventure activities on the lines of our Della resort in Lonavala. We are also venturing into vertical development through our JV with a prominent developer based in Mumbai on the outskirts of Pune,” Mistry added.
Open to exploring international markets
According to the company, Della Group is open to developing luxury villas and resorts in international markets, with a preference for mixed-use developments. However, this expansion would be pursued through a development management (DM) model or joint ventures (JVs).
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“We will primarily focus our investments in the Indian market, but we are open to international opportunities within the scope of JV and DM models. Countries like the United Arab Emirates (UAE) and the Maldives are on our radar, though we currently do not have projects there. Still, we are open to exploring these markets,” Mistry added.
