The company plans to invest Rs 4,700 crore to develop one project in Noida and two in Gurugram.
Experion Developers, backed by Experion Holdings of Singapore, plans to build premium residences in Noida and Gurugram, investing Rs 4,700 crore in FY24.
The company expects a cumulative top line of Rs 6,500 crore from three projects spread over 4.1 million square feet in the two cities bordering the national capital.
It plans to invest Rs 1,400 crore in the luxury housing project in Noida’s Sector 45. In Gurugram, investments of Rs 1,800 crore are planned for the Sector 48 project and Rs 1,500 crore for the Golf Course Road Sector 42 project.
The realty company acquired 5 acres of land in Noida and two plots totalling 9.5 acres in Gurugram in auctions.
“The land was bought for around Rs 300 crore,” BK Malagi, COO of Experion Developers, said about the Noida plot. “We will develop a 1.3 million square foot premium luxury housing project here with an estimated investment of around Rs 1,400 crore. The project will have 300 premium luxury apartments. We are planning to launch the project in December 2023 or January 2024.”
He told Moneycontrol that the projects in Gurugram will start next year. The company plans to develop a 1.8 million sq. ft uber-luxury housing project in Sector 48 Subhash Chowk and a 1 million sq. ft boutique luxury residential project on Golf Course Road.
“We will offer bigger flats above 2,500-3,000 sq. ft in these projects. We are still working out on the details about the number of units and flat sizes. These projects will be completed in four to five years after their launch,” Malagi said.
Experion has so far developed about 7 million sq. ft in eight projects across Gurugram, Lucknow and Amritsar.
Source : Money Control