Axon Developers acquire 2 stress projects, to invest Rs 350 crore.
Eyeing four more projects across Delhi, Noida, Gurugram and Lucknow in next 12 months
By the end of the next fiscal, the company is expected to clock gross revenue of around Rs 1500 crore
New Delhi, November 19, 2021: Axon Developers, new age Real Estate development company, has kick-started its operations by acquiring two stress asset projects in Delhi NCR. The company said that it would invest Rs 350 crore for the completion of around 750 units in the two residential projects. The investment will be through internal accrual and sales.
The company informed that gross sales realization from the two projects would be Rs 650 crore.
In the next 12 months, the company is eyeing a vigorous expansion with four more projects across Delhi, Noida, Gurugram and Lucknow, with an estimated aggregate value of Rs 2100 crore. By the end of the next fiscal, the company is expected to clock gross revenue of around Rs 1500 crore.
The recently acquired projects are Keltech Kumar Imperial Green (Noida extension, Uttar Pradesh), which has 350 units, and Manish Gallexie 91 (Sector 91, Gurugram) that has 400 units.
In Keltech Kumar Imperial Green, the company would invest Rs 100 crore, and the project would be completed within 1.5 years. On the other hand, the company will invest Rs 250 crore in completing 400 units of Manish Gallexie 91, Sector 91, Gurugram, in 2.5 years.
Axon developers operate in the residential, commercial, retail categories and have specialization throughout the value chain ranging from project acquisition, project planning & development. The company will also focus on Land development.
“At Axon, we endeavour for a truly aspirational lifestyle for our buyers through a constant focus on aesthetics, design and quality. Likewise, we give myriad investment options to our investors for them to yield profit. Also, we have diligently built a powerful tech bandwidth across the business cycles to execute with speed and agility”, quoted Mr. Ankit Kansal, Founder & MD Axon.
Mr. Kansal is a serial entrepreneur with a successful track record of more than 20 years in businesses spanning varied industry segments like Retail, Distribution and Manufacturing of diversified product lines. He identified the gap in Real Estate a decade back when he started with Real Estate Consulting and, after successfully making it the largest Real Estate Consultancy in India, delved into Stress Asset Management by forming Axon Developers. He has created an entire value chain for end-to-end real estate solutions, from real estate consulting, sales & marketing strategy to alternate investment fund and stress asset management.
Brewing the rich experience and carefully leveraging technology & operational expertise, Axon says that it will scale up fast.
