Funded by HDFC Limited and HDFC Life, Xanadu manages inventory worth INR 34,000 Crores
Mumbai, December 12, 2022: Xanadu Realty Limited has announced its highest-ever 45-day sales revenue of whopping INR 1,027 crores. The company received strategic funding from HDFC Limited and HDFC Life at a valuation of over INR 1,000 crores pre-money in April ’22.
Xanadu represents flagship developments of its illustrious clientele in Mumbai, Pune, and Bengaluru, including the likes of The House of Abhinandan Lodha, Raheja Universal, Mayfair Housing, Tata Value Homes, Kumar Properties, The Wadhwa Group, Ajmera Group, Kamdhenu Realities, Raunak Group, and Bonito Designs. The achievement is even more noteworthy given the usual dip in sales that the industry observes on account of ‘Pitrapaksha’, traditionally considered inauspicious for the industry. Backed by its ability to provide breakthrough solutions and solve complex problems, the company delivered category-defining launches at Raheja Versova Island, Mayfair Pride Homes (Virar), The Imperial Goa by The House of Abhinandan Lodha, 47 East (Hadapsar, Pune) and Megapolis (Hinjewadi, Pune) by Kumar Properties, Merusri (Devanahalli, BLR), and TATA New Haven (Off Tumkur Rd, BLR), to mention a few.
While industry data shows that 1.84 lakh units were consumed in seven leading cities in the first half of 2022, the next five months promise to garner even more exceptional demand, mainly because of the onset of the festive season till Gudi Padwa. In the last 2-3 years, Government initiatives like the GST and SDR subsidies created significant interest for the residential segment. And now, despite the recent increase in interest rates, the home-buying sentiment continues to be strong, along with a boom in NRI participation triggered by INR at its lowest.
Mr. Vikas Chaturvedi (CEO Xanadu Group) said, “We believe that our unique product-to-market model provides our clients with an opportunity not just to solve their complex problems but also to plan for unlocking disproportionate value in the future. We strategically modelled our business into independent & profitable Strategic Business Units (SBUs), allowing us to grow disproportionately in multiple categories and geographies. Today, we are present in three cities and four categories with differentiated product offerings. We are heavily investing in developing our proprietary technology to prepare for future scale-up, introducing a new SBU for the luxury segment, and entering two new cities very soon.”
Xanadu currently has an order book (Inventory Under Management-IUM) of over INR 34,000 Crores across Mumbai, Pune, and Bengaluru. The company intends to double this by the end of the financial year. Despite two difficult years for the industry marred by COVID-19, Xanadu has grown at an aggressive CAGR of 63% since FY-20.
Corporate Comm India (CCI Newswire)