Xanadu Realty, a realty tech business accelerator firm, says it has recorded its highest-ever 45-day sales revenue of Rs 1,027 crore. Making this announcement on November 11, 2022, the HDFC-backed institutional sales and marketing platform for real estate also said that it had received strategic funding from HDFC and HDFC Life at a valuation of over Rs 1,000 crore in April 2022.
While the company has issued a public notice about the investment in May this year, it had not specified the exact amount.
Despite two difficult years for the industry due to the pandemic, Xanadu grew at a compounded annual growth rate (CAGR) of 63% since 2019-20, the company said in a statement. It also said that Xanadu was looking to double its order book to Rs 68,000 crore by the end of the current financial year. Xanadu currently has an order book (inventory-under management or IUM) of over Rs 34,000 crore across Mumbai, Pune and Bengaluru.
Xanadu represents flagship developments of its 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.
“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, allowing us to grow disproportionately in multiple categories and geographies,” says Vikas Chaturvedi, CEO Xanadu Group.
“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,” he adds.
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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