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After completing five land acquisitions totaling Rs 2,100 crore, Experion Developers, the Indian division of Singapore’s Experion Holdings, intends to start projects with a selling price of over Rs 10,000 crore next year, CEO Nagaraju Routhu.
In addition to buying more property in the NCR and other areas, the business intends to start projects on the five land parcels it has bought.
“With the type of releases we have planned, we intend to more than quadruple that figure next year. We are projected to reach Rs 1,000 crore in sales in FY 24. We have no debt, and internal accruals are used to fund all of our purchases,” the statement claimed Routhu.
Strategic Land Acquisitions Propel Experion’s Ambitious Rs 10,000 Crore Venture
A 4-acre plot on Gurgaon’s Golf Course Road was purchased for Rs 400 crore by the company; a 5-acre parcel in Noida’s sector 45 was acquired for about Rs 250 crore; a 5.5-acre parcel in Gurgaon’s sector 48 was acquired for about Rs 550 crore; a 6-acre land parcel in Gurgaon’s sector 53 was acquired for Rs 450 crore; and a commercial land parcel on Golf Course Extension Road was acquired through the insolvency process for Rs 450 crore.
“The Noida project, which will be completed in two stages, will be started first. We have good cash flow, but we don’t want to jeopardize our balance sheet so that we can weather difficult times. Nevertheless, both the equity and loan windows remain open if needed for building,” Routhu stated.
NCR and Beyond: Experion’s Expansion Blueprint Unveiled
The business has land tracts in Panipat, Goa, and Amritsar that it intends to develop at a later time. “The business is preparing to start at least four projects, three in Gurugram and one in Noida. According to Routhu, this multifaceted approach enables a varied portfolio across many places, meeting the particular needs and opportunities in each place.
In Andhra Pradesh, the Delhi-National Capital Region (NCR), Goa, Haryana, Maharashtra, Punjab, Tamil Nadu, and Uttar Pradesh, Experion Developers is constructing townships, group housing projects, commercial landmarks, organized retail destinations, hotels, and resorts.
Financial Prowess And Debt-Free Growth: Experion’s Winning Formula
“We expect a significant increase over FY23 in the upcoming fiscal year 2024 (FY24).” The launch of new projects into the market will be the main factor propelling this increase.
We anticipate a multiplication in the top line, despite the fact that exact numbers are difficult to predict because of the inherent uncertainties in the market.
The CEO stated, “This positive prognosis is dependent on a number of market factors as well as our ongoing efforts to innovate and satisfy our customers’ changing needs.