About The Group
Spenta Group is a Mumbai based real estate developer group incorporated in 1989. The Group is headed by Mr. Aspan Cooper and Mr. Farshid Cooper (Managing Director).
The group has successfully completed serval marquee residential and commercial projects across premium locations in Mumbai viz. Altamount, Walkeshwar & Breach Candy.
The group is currently developing multiple residential projects across micro markets viz. Powai, Tardeo, Juhu, Matunga, Chembur & Thane.
Key Project Details
9,97,275 sq ft
Sales Area₹ 18,000/ sq ft
Average sale rate on (saleable area)13%
Percentage Project CompletionFY 2025
Target Completion Year
Rehabilitation Building – Completed
Rehabilitation Building – Work in Progress
Sales Buildings – Work in Progress
Project Highlights
The land is privately owned SRA (slum rehabitation) project held in a SPV
Project Current Status
Rehab building are partially completed and possession handed over to tenements
Project Details
| Project Brief | |
|---|---|
| Type of Project | Mid Income residential project |
| Location | Jogeshwari East |
| Project Stage | Rehab - 80% complete, handovers started; Sale – Excavation & foundation started |
| Existing Debt (drawn) | Rs. 5,130 mn |
| Site Details | |
|---|---|
| Land Area (acres) | 5.36 |
| Rehabilitation Built-up Area (sq. ft.) (as per DCPR 2034) | 500,000 |
| Sale Built-up Area (sq. ft.) (as per DCPR 2034) | 1,150,000 |
| Land ownership & zoning | SRA on Privately owned land / Residential Zone |
| Project Configuration | |
|---|---|
| Sale Building | 4 Buildings of 18 floors |
| Rehabilitation Buildings | 5 Buildings of 8 floors – Occupied by 400 tenants 2 Buildings of 16 floors – for 320 tenants 2 Buildings of 19 floors – for 600 tenants |
| Salable units | 1,216 |
| Avg. Sale Rate | ₹ 18,000/sq ft (Saleable Area) |
| Avg. Construction Cost | ₹ 3,050/sq ft (built-up Area) |
| Sales Status | Nil |
Project Cash Flow
| Particulars | Total | Incurred | Balance | Mar 21 | Mar 22 | Mar 23 | Mar 24 | Mar 25 | Mar 26 | Total |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from sale | 17,950 | - | 17,950 | 519 | 3,791 | 4,236 | 4,730 | 3,964 | 710 | 17,950 |
| Promoter Contribution | 610 | 505 | 105 | 105 | - | - | - | - | - | 105 |
| Existing Debt | 5,130 | 5,130 | - | - | - | - | - | - | - | - |
| New Debt | 700 | - | 700 | 700 | - | - | - | - | - | 700 |
| Total Inflows | 24,390 | 5,635 | 18,755 | 1,324 | 3,791 | 4,236 | 4,730 | 3,964 | 711 | 18,755 |
| Land cost (Development Rights) | (2,161) | (1,911) | (250) | (140) | - | (110) | - | - | - | (250) |
| Approval Cost/Rental | (1,773) | (453) | (1,320) | (360) | (520) | (240) | (200) | - | - | (1,320) |
| Construction Cost (Sale and Rehab) | (5,387) | (747) | (4,640) | (420) | (1,090) | (1,340) | (810) | (710) | (270) | (4,640) |
| Selling/ Marketing | (350) | - | (350) | (10) | (76) | (83) | (92) | (79) | (9) | (349) |
| Finance cost | (4,576) | (1,846) | (2,730) | - | - | (1,228) | (1,004) | (497) | - | (2,729) |
| Payment to Landlord | (1,628) | (678) | (950) | (650) | (300) | - | - | - | - | (950) |
| Total cost | 15,875 | 5,635 | 10,240 | 1,580 | 1,986 | 3,001 | 2,106 | 1,286 | 279 | 10,238 |
| Free Project Cashflow | (8,515) | 0 | (8,515) | (257) | (1,805) | (1,236) | (2,624) | (2,678) | (432) | (8,517) |
| Payment of New Debt | (700) | - | (700) | - | - | (180) | (250) | (270) | - | (700) |
| Free Cashflow for existing debt | (7,815) | (0) | (7,815) | (257) | (1,805) | (1,056) | (2,374) | (2,408) | (432) | (7,817) |
| Repayment of existing debt | (5,130) | (5,130) | - | - | (1,283) | (1,796) | (2,052) | - | (5,131) | |
| Total cost | 2,685 | 2,085 | 257 | 1,805 | 227 | 578 | 356 | 432 | 2,686 |
Security Package
First and exclusive charge on land and project development
First and exclusive charge on project receivables and escrow accounts
Personal guarantee of Promoters
100% Share Pledge of the Project SPV