Axon Developers to invest over Rs 300 crore in developing two stuck projects

Axon Developers, backed by brokerage firm 360 Realtors, has acquired a stuck retail asset in Gurgaon for Rs 116 crore, and the company plans to invest another Rs 80 crore for the completion of the project in the next two and a half years.

The company has additionally undertaken the development of a stalled residential project in Greater Noida on a direct management model with a budget of Rs. 100 for its completion."In the next 12 months, the company is eyeing an 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," said Ankit Kansal, Founder & MD, Axon.

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