Developer looks to expand frontiers beyond Coimbatore
Adissia Developers, a Coimbatore-based real estate firm, plans to scale its operations to reach a ₹1,000 crore turnover within two years. The company is shifting its headquarters to Chennai and expanding its focus from plotted developments to premium apartments.
Why it matters
The company's growth strategy highlights the rising demand for organized real estate and plotted developments in tier-2 cities across Tamil Nadu.
Adissia Developers, a relatively new player in the market which started its journey in Coimbatore is aiming to be a ₹1,000 crore firm in the next two years. “Currently, our turnover is ₹520 crore and we will be a ₹1,000 crore company in two years. We expect our turnover to be around ₹2,500 crore in 4-5 years,” M.V. Manikandan, Founder and CMD of Adissia Developers, said.
Mr. Manikandan, who is a first generation entrepreneur, said that in two years, Adissia has managed to have a significant presence in Coimbatore and Tiruchi. “Now we are going to shift our headquarters to Chennai,” he said during a fireside chat with Soundariya Preetha, Deputy Chief Of Bureau (Coimbatore), The Hindu , on the topic ‘Land as the next asset class: Why plotted developments are leading Tamil Nadu’s Growth’. The firm also intends to go public in the next 7-8 years.
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