Experion Developers Set to Expand Estate With Multiple Projects in Excess of INR 10K Cr Valuation

New Delhi

In an ambitious move, Experion Developers, the Indian subsidiary of Singapore's Experion Holdings, is poised to launch a series of new projects estimated to exceed a sales value of INR 10,000 crore in the upcoming year. This initiative follows the successful acquisition of five land parcels totaling INR 2,100 crore.

The company's strategy involves developing all five recently acquired land parcels, coupled with plans to expand further by acquiring additional land in the National Capital Region (NCR) and other major cities. According to Routhu, Experion's spokesperson, the company is on track to surpass INR 1,000 crore in revenue for the financial year 2024.

They anticipate this figure to more than double in the following year, fueled by the planned project launches. Remarkably, the company has maintained a debt-free status, funding these acquisitions through internal accruals.

Experion's recent acquisitions showcase a strategic approach to location and value. These include a 4-acre plot on Gurgaon's Golf Course Road, acquired for INR 400 crore, and a 5-acre parcel in Noida's sector 45, purchased for around INR 250 crore.

Additionally, the company secured a 5.5-acre parcel in Gurgaon’s sector 48 for approximately INR 550 crore, a 6-acre land parcel in Gurgaon’s sector 53 for INR 450 crore, and a valuable commercial land parcel on Golf Course Extension Road through the insolvency process for INR 450 crore.

The company's immediate focus is on launching the Noida project, which will unfold in two phases. Routhu highlighted that while the company possesses robust cash flow, they remain open to equity and debt financing options if needed for construction. However, they are cautious not to compromise their balance sheet, ensuring stability through potential market fluctuations.

In addition to these projects, Experion has land parcels in Amritsar, Goa, and Panipat slated for future development. Routhu revealed plans to launch at least four projects soon, including one in Noida and three in Gurugram. This diversified strategy allows the company to cater to various market demands and opportunities in different locations.

Experion Developers is not just limited to residential projects but is actively engaged in constructing townships, group-housing projects, commercial landmarks, organized retail destinations, hotels, and resorts. Their operations span across Andhra Pradesh, Delhi-NCR, Goa, Haryana, Maharashtra, Punjab, Tamil Nadu, and Uttar Pradesh.

Looking forward to FY24, the company expects a significant revenue jump compared to FY23. The primary growth driver will be the introduction of these new projects. While precise revenue projections are challenging due to market uncertainties, the company remains optimistic about a substantial increase in their top line, underpinned by various market drivers and their continuous innovation to meet the evolving needs of their customers.