It builds affordable housing projects on the transport networks connecting India’s major cities. Xrbia uses ground breaking technology to deliver efficiencies across construction, operations and maintenance
Their technology enables it to deliver social and environmental impact and its systems are built to report impact on a real time basis.
Over the next 5 years, Xrbia is forecasted to deliver more than 22.6 million sq ft of Residential development, comprising approximately 50,000 houses respectively in 16 projects. Xrbia’s typical units are between 250 and 500 sq ft and are targeted at low income households.
The company is projected to generate revenues and gross profits over the next 5 years of more than £1 billion and over £332 million respectively.
In the first 3 quarters of the financial year from April 2016 to March 2017, Xrbia has sold 3,525 units at a value of £59.1 million.
Xrbia also has substantial land to be developed out. This comprises of 895 acres across 12 sites with a projected total area of more than 35 million sq ft. There is considerable unrealised value already inherent in this land bank. Acquired for a total cost of approximately £20.6 million, the company estimates that the current gross market value of these sites is more than £170 million.
Gross Residential NAV based on DCF at a 17.5% discount rate = £138.4 million
Land Bank at a 50% Discount to Market Value = £86.2 million
Total Gross NAV = £224.6 million
Less Corporate (non project) Debt = -£10.7 million
Less Unpaid Land Cost = -£22.0 million
NAV of Xrbia = £191.9 million