Experion Developers to expand its portfolio with $350 mn investment

According to the official sources, Experion Developers has planned an investment of $350 million in 30 months to expand its commercial and residential portfolio in India. The company wants to make its presence in Lucknow, Gurugram and Amritsar as well as Bengaluru, Pune, Hyderabad and Mumbai markets. Chief Executive and Board member of Experion Developers, B K Malagi, told the media that the company wants its presence in all major metro cities and is already in discussion to initiate a project there. The Indian arm of Experion Developers, a realty investment arm of $2.5 billion, AT Holdings, has focused on Lucknow and Gurugram. The company also plans development in its 100 acre land bank in Amritsar. Malagi said around 70-80% would be residential development and 3.5 lakh sq ft of commercial development. There is more interest in plotted development rather than luxury housing. The company is developing townships, group-housing projects, commercial projects, retail destinations, hotels and resorts in Andhra Pradesh, Delhi, Goa, Haryana, Maharashtra, Tamil Nadu, Punjab and Uttar Pradesh. Experion Developers also plans investment of $300 million in student housing as the demand for co-living has recovered after the Covid-19 pandemic disruptions. It is in talks with universities for partnerships in building and operating student housing facilities within the campus. According to Real Insight, housing sales in India improved during the third quarter (Q3) of FY21 after the demand for residentials increased post-second wave of the Covid-19 pandemic. Overall, 55,907 new housings were sold between July to September, with an increase of 59%, compared to 2020 during the same period. Home sales have shown 250% growth, with 15,968 housing units sold during April to June in the second quarter (Q2) of FY21. Image Source Also read: Experion Developers to pump $300 mn for student housing market