Axon Developers plans to invest Rs 350 cr in two stressed projects

22 Nov 2021 CW Team

Axon Developers has begun operations by purchasing two stressed asset projects in the Delhi NCR area. The company stated that it would invest Rs 350 crore in the two residential projects to complete around 750 units. Internal accrual and sales will be used to fund the investment.

The two projects are expected to generate gross sales of Rs 650 crore, according to the company.

The company plans to expand aggressively over the next 12 months, with four new projects worth Rs 2100 crore spread across Delhi, Noida, Gurugram, and Lucknow. The company is expected to generate gross revenue of around Rs 1500 crore by the end of the next fiscal year.

Keltech Kumar Imperial Green Noida Extension, Uttar Pradesh, which has 350 units, and Manish Gallexie 91 Sector 91, Gurugram, which has 400 units, are two of the recently acquired projects.

The company will invest Rs 100 crore in Keltech Kumar Imperial Green, which will be completed in one and half years. On the other hand, the company will spend Rs 250 crore in two and half years to complete 400 units of Manish Gallexie 91 in Gurugram's Sector 91.

Axon developers work in the residential, commercial, and retail sectors, with expertise spanning the value chain from project acquisition to project planning and development. The firm will also concentrate on land development.

Axon Developers is a modern Indian real estate development firm. The company works in the residential, commercial, and retail sectors, with expertise spanning the value chain from project acquisition to project planning and development. Land development and plotting projects are also a focus of Axon Developers.

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